After the initial rush of interest amongst buyers in accepting Bitcoin in their online and retail stores, interest seems to have died down for the most part. This is mostly due to the volatile price movements and increasing bitcoin transaction fees making it a lot less attractive as a means of exchange.
Yet, that doesn’t mean that there are not any outlets where you can spend your bitcoin. In fact, there are plenty of places to use bitcoin. It is just a case of the bitcoin volumes at the outlets not really meeting expectations as yet, and by the time you read this, things may certainly have changed.
The Benefits of Using Bitcoin
However, you can still buy a wide and varied range of services and goods with the handy cryptocurrency. Amongst the benefits of learning how to buy bitcoin in Melbourne at Bitcoin Dealers and using bitcoin for transactions are the sheer ease of cross-border transactions as well as the anonymity (unless, of course, you opt for physical delivery of an item).
By accepting the cryptocurrency, merchants have an exceptional opportunity to access a far broader market, and they don’t have to be too concerned about chargebacks (that is, where buyers cancel payments once they have received a product).
So, Where Can You Spend Your Cryptocurrency?
If you want to use your bitcoin to purchase gifts, one of the most obvious solutions is gift cards, with many merchants now accepting the cryptocurrency as a form of payment. The recipient will then have the opportunity to spend the gift card at a wide range of retailers.
You can even pay for hotels and flights with bitcoin. For instance, booking through sites like Expedia and CheapAir means you can pay with your cryptocurrency. If your ambitions are a great deal higher than that, you could even pay for a trip to space through Virgin Galactic.
A little more down to earth, Microsoft now accepts bitcoin through its app store, which means you can use your crypto to buy app-based services and download games and movies. There are even some musicians, such as Bjork, who are happy for you to download their music in exchange for bitcoin.
Would you prefer to buy a special gift for someone or perhaps furnish your home? One particularly big online retailer called Overstock accepts. In fact, they were one of the first to begin accepting cryptocurrency back in 2014.
Perhaps you’d rather invest in gold? There are several sites who are happy for you to do so with your bitcoin.
It’s all pretty hungry work, which is okay, since there are even pizza places that will deliver food to your door in exchange for bitcoin.
How about education? In New York, for example, there are several private and public universities and even preschools that accept tuition fees in the form of cryptocurrency. And, professional firms such as legal and accounting firms accept payment for their services in bitcoin.
Of course, you could always share some of your wealth by giving back to the bitcoin-accepting charities or crowd funding sites out there.