When Bitcoin was first announced to the public in 2009, they assumed Bitcoin was to be a medium for daily transactions, being used to purchase from cans of water to even luxurious cars. But still, until this day Bitcoin hasn’t reached it’s full potential, the variety of products and services that can be purchased legitimately are still widening day by day. So, what can you buy with bitcoin?
Here is five things that you can purchase with Bitcoin:
More and more car dealerships are accepting Bitcoin as a payment method for a large range of cars from the cheapest cars like Subarus to the most luxurious like Lamborghinis.
Tesla has become one of the biggest names to join the boat of companies which allow cryptocurrency as a payment method. A few months later CEO of Tesla, Elon Musk tweeted that Tesla no longer allows Bitcoin as a payment method due to environmental concerns. But in 2021 Tesla stated: “We may in the future restart the practice of transaction in digital assets for our products and services.”
Jewelry and watches
A variety of luxurious retailers and jewelry makers are approaching Bitcoin as a payment method more and more. BitDials is an online luxury retailer which offers high-end watches such as Rolex, Patek Philippe and many more have officially accepted purchases using Bitcoin.
A famous high-end watch brand even produced a watch made of gold and diamonds containing a QR code from the Bitcoin genesis block.
Multiple technology companies have officially added Bitcoin as a payment method on their online shopping options. Some of them are Newegg, AT&T and one of the largest names in the technology industry- Microsoft.
The practical use of Bitcoin in online shopping is growing strong from small to big websites like Shopify or even the Japanese e-commerce giant Rakuten.
Chicago Sun-Times is the first major magazine to accept Bitcoin as a payment for subscription in 2014. After that Time Inc. followed and started accepting Bitcoin for digital subscription. In 2019, the magazine conducted a partnership with Crypto.com
The insurance industry is taking its first steps into the crypto currency era since insurance providers are accepting Bitcoin as a payment method for premium payments but life insurance still has some limits.
For example, a company that produces “pay-per-line” auto insurance policies called Metromile accepts Bitcoin as a payment method for premium payments. Not only Metromile but in 2021 Swiss insurer AXA have officially give announcement saying their customers could use Bitcoin to pay for all of its insurance except only for life insurance because of regulatory problems.
And it won’t stop there
The reputation for Bitcoin is being wide-spreaded by day and the blockchain industry development is also growing intensively and fast. That’s why we have a reasonable base to be positive in Bitcoin and believe that more and more products and services could be bought with Bitcoin in the future and further an official legalized currency.
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