What all can be bought with Cryptocurrency that you are holding?

Bitcoin and other cryptocurrency are making headlines all around the world today.

In the market, no other digital currency has such influence as Bitcoin. Adaption of Bitcoin and other prominent cryptocurrencies as payment methods took some serious time but once the acceptance was there, all the leading industries welcomed this change. So if a person is holding Bitcoin or Ethereum, that person can buy almost anything on the web. So here are some ways in which you can spend your crypto online:

1- IT services

In 2014, Namecheap.com, that enable the purchase of web hosting and domain names through various cryptocurrencies. Many VPN service providers like VikingVPN, TorGuard, AirVPN, ClockVPN are also accepting payment via BTC through digital wallets. It is also anticipated that the use of BTC will expand in the IT space.

2- Charity

Millions of dollars worldwide are spent regularly on charity and related aspects. CNBC reported that people from all over the world donated around 22 million dollars with Bitcoins in 2017.

Royal National Lifeboat Institution ) and the Water Project are some other reputed and trustworthy charity organizations in which major contribution of donations are paid through cryptocurrency.

3- Gift cards

Buying gift cards with crypto has also become common.

So platforms like Nexxus Rewards serve as a market place and help buyers and sellers connect and transact among themselves using cryptocurrencies. To make it more interesting they have also introduced an incentive system so that they can promote the use of crypto.

4- Home decoration

In January 2014, Ghostbed.com is another platform where people can buy mattresses for their homes using Bitcoin.

5- Cars

This is a very fascinating scenario that nobody ever imagined would come into existence, Bonhams car auctions began accepting Bitcoins in 2018.

If we solely talk about cryptocurrencies like ETH and BTC, it doesn’t matter how high the amount is or how big the transaction is, it will only take few minutes to facilitate the payment if the funds are available. From a fancy Lamborghini to a fast Ferrari (NYSE:RACE), a person can buy all sorts of luxury cars through the use of crypto in today’s world.

6- Travel Industry

If you travel around the globe, you know the problems a person can face while carrying cash. But having Bitcoin ATM’s in countries like Canada, Thailand, Australia have proved to be a perfect solution to this problem. One can easily go to a Bitcoin Vends and convert their Bitcoin to cash. Even bookings flights and hotels can be done through Cheapair.com is also another travel booking portal that enables its users to use crypto.

7- Energy Industry

Today you can also buy renewable energy with cryptocurrency. WePower enables companies to have smart-energy contracts using cryptocurrency, and they can actually have the best prices offered to them against long-term commitments. This trading is enabled through an auction where the producers compete with each other and undercut the pricing, which will be bought through cryptocurrency.

8- Luxury Items

Reeds.com is also one of the recognized platforms that enable its users to purchase jewelry and diamonds via BTC.

9- Food

Retail food outlets and food companies are also trying to keep pace with other industries. Big players like KFC are the latest to join this league, KFC Canada has recently started accepting Bitcoins as a payment method. Other big food outlets are most likely to follow.

10- Internet service and satellite television

Dish network, the American internet service company and satellite television service provider, announced it will accept Bitcoin as payments. It has a customer base of 14 million subscribers. The company stated hopes the move will allow it to acquire new customers.

Dish was the first company in the subscription based TV industry to accept crypto as payment.

In my opinion:

Looking at the fast adoption and popularity of Bitcoin, it can be anticipated that soon many big well-known companies will start accepting the use of Bitcoins in the near future. I have mention just some of the products and industries that use cryptocurrencies.

Written By: Raghav Sawhney