WorldExecutivesDigest | Where to Spend Your Bitcoin | As of February 2015, over 100,000 merchants and vendors started accepting bitcoin as payment.
The coronavirus pandemic of 2020 changed a lot of things, including how and where families eat out and buy stuff.
Online shoppers are now gravitating toward retailers that accept cryptocurrency payments.
The U.S. Internal Revenue Service ruled that bitcoin will be taxed as property for federal income tax purposes. “The Financial Crimes Enforcement Network (Fin CEN) established that bitcoins are ‘property’ for U.S. federal tax purposes.”
We’re outlining a handful of businesses where to spend your Bitcoin. Read on to find out more!
Where to Spend Your Bitcoin
Here are a few places where you can spend your Bitcoin and get more info on how to use your cryptocurrency to get the best deals:
Overstock was one of the first major online retailers that has accepted Bitcoin in 2014. They sell a wide variety of items, making it a great place to spend Bitcoin.
Newegg is another popular online retailer that accepts Bitcoin. They specialize in electronic items, making it a great place to purchase your next computer or other electronic item.
The most popular online retailer, Amazon, is another great place to pick up your next item. This company accepts Bitcoin as well, which means you can purchase that new Kindle or other electronic device you’ve been eyeing.
The downside is that there are a lot of fees when using Bitcoin on Amazon, so make sure to shop around for the best deal.
Microsoft was one of the first major companies to start accepting Bitcoin. You can use Bitcoin to purchase apps, games, and other items from the Microsoft store.
Sony has also started accepting Bitcoin. They’ve partnered with Coinbase to create the Sony PlayStation Store, and you can use Bitcoin to purchase games, movies, and more.
Expedia is a popular online travel agency that started accepting Bitcoin in 2014. You can use Bitcoin to book your next vacation, making it a great way to spend your cryptocurrency.
Pocket is a popular app that lets you save interesting articles and videos to read later. The app started accepting Bitcoin in 2014 and it’s still one of the best places to spend your cryptocurrency since it was founded by a former Facebook engineer, Mike Krieger.
Etsy is a popular marketplace for handmade and vintage items. You can use Bitcoin to purchase items from Etsy sellers who accept cryptocurrency. Find independent artists or artisans who sell their work on Etsy.
eBay is a global marketplace where consumers and merchants come together to trade nearly anything. You can buy just about anything on eBay with Bitcoin, although it’s important to do your research before purchasing an item.
Other major retailers that accept Bitcoin as payment are Dell and Tesla Motors.
Spend Your Bitcoin Wisely
It is difficult to spend it in brick and mortar stores. However, some companies have begun to create special in-store kiosks for customers who want to use Bitcoins from their mobile wallets at these retailers.
Now, we’ve given you a list of merchants where to spend your Bitcoin. Pay for products and services electronically if both parties are willing.
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