You know bitcoin is a cryptocurrency. It functions through an extremely secure infrastructure known as blockchain. While blockchain exists on the dark web and doesn’t have a physical form but it really isn’t all that mysterious. That being said, if you find yourself wondering “What can you buy with bitcoin?” you are not alone. That being said, bitcoin actually functions fairly similar to any other currency. While it’s easy to understand credit cards and e-commerce, the newness the of cryptocurrency creates a gray area. How does one use bitcoin? How can you shop with it? We decided to answer these questions and highlight a few great purchases made with bitcoin.
When bitcoin originally became popular many companies wanted to get on board with the trend. After recent volatility though, the bitcoin products market stagnated a bit. As Noelle Acheson says, “After an initial flurry of interest among merchants in accepting bitcoin in their retail or online stores, interest has largely died down as increasing bitcoin transaction fees and volatile price movements made it less attractive as a means of exchange.” In the midst of waiting for Bitcoin to stabilize a bit though, there are still plenty of things you can buy.
Many high-end automobile dealers grew interested in being early-adopters in terms of the crypto trends. Luxury cars are tailored towards wealthy individuals and bitcoin has proven to make a lot of people wealthy. As a result, by adopting cryptocurrencies as payment, they see it as a way to accommodate their high-end customers. As described on Brave New Coin, “In December 2013, a Tesla Model S, was purchased for a reported 91.4 bitcoins. The irony is not lost though, a currency of the future, purchasing a car of the future, what a wonderful world we live in.”
Anything on Overstock.com
Overstock.com acts as a staunch supporter of cryptocurrencies. Anything on the e-commerce retailer’s site can be purchased with it. Their CEO, Patrick M. Byrne even addressed the global community of economists and entrepreneurs on how bitcoin can impact the future of business. Don’t believe us? See the video below:
With bitcoin, you can pay for cabs in places like Hungary and Venezuela. Lots of travel-booking sites also now accept the currency. So when you plan your next trip, check your bitcoin before you pull out your wallet.