What can you buy with bitcoin?
23.02.2018 Useful articles
Cryptocurrencies would not be so precious, if they were only used for funds transfer. That is why the whole crypto-community will always thank to those people, who have first started to exchange bitcoins to the other ones, digital and real values, and those, who have first accepted them in return. Laszlo Hanyecz was the first person, who managed to buy two pizzas for 10000 bitcoins in 2010.
At the time of Hanyecz, the digital economy did seldom interconnect with the real one. However, today it is difficult to imagine the whole scope of the products and services available for cryptocurrencies. Though many know how to buy BTC, a few know what can be purchased. See what can be purchased with BTC below.
Will you buy a car or cellphone with BTC?
The car sale in bitcoins is one of the most frequent offers.
The car offer for sale in bitcoins first appeared in different countries a couple of years ago. 2017 was the year of such offers indeed. However, the dealerships and companies could not sell cars for bitcoins due to the weak legal basis in the ex-USSR countries. That is why such offers could provide mainly individuals. It seems that the sellers, accepting bitcoins as a kind of the alternative payment method, were quite interested to follow a perspective and up-to-date cryptocurrency trend. Besides It is rather easier to sell a car for bitcoins than to exchange bitcoins to regular money and buy cryptocurrency for them.
Such medium car as Ford Focus, and luxurious models as BMW X5, or Lexus LS570 were offered for sale in bitcoins.
Some dealerships put prices in bitcoins in the number of European countries and the US. Different sorts of cars may be offered in bitcoins, from the medium-price to luxuries such as Mercedes Benz S Class. In particular, this car is offered by Liberala, a Japanese dealership, for about 20 mln yens, or 22 BTC (by bitcoin rate at the moment of the article creation).
Tesla S, the innovative electric car, seems to be even more exotic offer for sale in bitcoins. Tesla S and some race cars of “Formule – 1” are being sold for bitcoins yet since the end of 2013. Today, depending on the package, Tesla S can cost from 7 to 10 bitcoins ($60 000 – $80 000). Recently, the anonymous Chinese collector has paid a half of a thousand off the coins (4 mln pounds sterling) for four race cars.
The dealerships, accepting crypto-payments, usually put prices in dollars (or other fiat currencies), and re-count them in bitcoins at the exchange rate at the moment of the sale. Apart from the bitcoins, the dealers quite often accept the other popular cryptocurrencies as a payment, like Bitcoin Cash, Ethereum, or Dash.
It is also important to mention that paying with Bitcoin Cash (BCH) for products of the medium cost is really effective due to the low fees. The cost of the typical bitcoin-transfer can reach up to 5-10 dollars, which is hardly acceptable when buying the products of the same value.
Interesting that the cellphones are also leading by the number of sale offers. More and more types of cellphones can be purchased with cryptocurrencies today. A lot of retailers provide the opportunities to purchase cellphone with bitcoins. Overstock was the first web-superstore, where people could make such a purchase with bitcoins.
Certainly, along with the smartphones people could purchase any other gadgets with bitcoins in web-stores in 2017. Additionally, the market of the accessories purchased in the same manner is even more wider; it is not limited with large firms. Thus, a lot of individual workshops offer the exclusive original wares made of skin or synthetic materials aimed to carry the mobile devices or fix them on the body.
What else can you buy with bitcoins?
It is not a problem to buy products with bitcoins in the modern world. Apart from the various gadgets and cars, a lot of other items and devices can be purchased with btc. Along with the consumer electronics purchased offline and online, people can buy jewellery, exclusive clothes, paintings, and luxuries with bitcoins.
Surely, if you want you can buy real estate and even islands with bitcoins.
A restaurant owner from Panama has even put up for sale his well-established business at a cost of 305 BTC, which is more than expensive.
A purchase of the ready-made food in the restaurants and some supermarkets appeared to become a new trend. Nevertheless a purchase of pizza with bitcoins, which has turned into mem long ago, is no longer possible, only if the order is really big, or paid with “cheaper” crypto-coins. True often, when talking about relatively cheap wares the service fees complicate the development of bitcoin trading.
Perhaps, after the more scalable Lightning Network deployment a “purchase of a cup of coffee with bitcoins” will be closer to the reality.
Service payment in BTC
Today there are loads of opportunities to purchase not only products but also services with bitcoins. Some of these are:
– A lot of airline companies offer tickets for bitcoins;
– A range of tour operators offer cruises for bitcoins;
– A cosmic tourism can also be paid with bitcoins;
– More and more countries offer renting of the apartments or hotel numbers for crypto-coins;
– The University of Nicosia in Cyprus has also pioneered crypto-payments, offering opportunities to pay for the studies with bitcoins. The Cypriots has gathered a lot of the followers for the last for years;
– Payments with bitcoins for the housing and utilities services, communication services, or transport cards are gradually getting into use;
– The American authorities claim to start accepting bitcoins in the quality of tax liabilities in the future.
Though crypto-charities have always used to be typical for the IT startups and crypto-world, the charity, research, and public foundations have recently started accepting crypto-donations. Thus, the “Giving Life” Foundation, in particular its suboffice in the USA, where such donations have the appropriate legal base, has recently started accepting crypto-donations.
The crypto-market’ progress will inevitably extend its opportunities. Evidently, there is likelihood that 2018 will bring us even more intriguing offers. The demand for cryptocurrencies is getting ever stronger. Thus, the offers for sale wares and services in bitcoins are not also long in coming.
Based on exmo materials