Bitcoin can be used to purchase a diverse range of products and services across multiple sectors. Major retailers like Overstock and Newegg accept direct Bitcoin payments, while gift cards enable access to Amazon and Walmart. The travel industry offers flight bookings through Expedia and CheapAir. Food options include select Subway and Burger King locations. Substantial investments like real estate and vehicles are increasingly available with cryptocurrency. Entertainment purchases and charitable donations round out Bitcoin’s expanding utility in everyday commerce.
What Can You Buy With Bitcoins?
Where once Bitcoin existed as a niche digital currency understood by few, it has evolved into a widely accepted payment method across numerous industries worldwide. The retail sector has welcomed cryptocurrency with major platforms like Overstock and Newegg directly accepting Bitcoin for purchases. Consumers can also access products from retailers that don’t directly accept cryptocurrency through services like Bitrefill, which offers gift cards for Amazon, Walmart, and other major merchants. Crypto debit cards from providers like Coinbase make it possible to spend Bitcoin at any merchant that accepts VISA payments.
Bitcoin has transformed from obscure digital money to a mainstream payment option embraced by retailers worldwide.
Shopify’s integration of cryptocurrency payment options has further expanded Bitcoin’s utility in everyday shopping experiences for electronics, clothing, and household items.
The travel industry demonstrates significant cryptocurrency adoption. Travelers can book flights through platforms like Expedia and CheapAir using Bitcoin. Hotels.com accommodations become accessible through gift card purchases with cryptocurrency. Some transportation providers have implemented direct acceptance, with AirBaltic among the airlines allowing Bitcoin payments.
Specialized agencies like TravelbyBit cater specifically to crypto-enthusiastic travelers, while CryptoCribs provides vacation rental options for those preferring to use digital currency throughout their journey.
Food and dining establishments have begun incorporating Bitcoin payment options at various levels. Select Subway franchises and Burger King locations in certain countries accept cryptocurrency directly. Pizza Hut’s Venezuelan operation exemplifies regional adoption trends.
Food delivery services including Takeaway.com offer Bitcoin payment alternatives, while specialty food retailers have created niche markets for cryptocurrency users seeking gourmet products.
Bitcoin’s utility extends to substantial investments like real estate and vehicles. Property purchases through agencies that list in Bitcoin and platforms like Propy facilitate cryptocurrency transactions for homes and land. Real estate transactions using Bitcoin have been growing since the first property sale in 2017 through Kuper Sothebys in Austin, Texas.
While Tesla‘s previous acceptance of Bitcoin gained significant attention, numerous car dealerships continue offering cryptocurrency payment options for vehicle purchases. Transportation services including select taxi operators and rental agencies in major cities accept Bitcoin.
Entertainment sectors provide additional spending avenues with Microsoft accepting Bitcoin for Xbox services. Cryptocurrency users can purchase concert tickets, participate in online gambling, and make in-game purchases using Bitcoin. Streaming platforms like Twitch have embraced cryptocurrency, allowing viewers to support their favorite content creators with Bitcoin.
Charitable giving represents another significant use case, with organizations including UNICEF, The Red Cross, Wikipedia, and various environmental initiatives accepting cryptocurrency donations.
As Bitcoin’s acceptance continues expanding across these diverse sectors, consumers find increasingly seamless opportunities to utilize cryptocurrency in everyday transactions, substantial purchases, and philanthropic endeavors.
Frequently Asked Questions
How Do I Safely Store My Bitcoins?
Bitcoin storage requires layered security measures.
Hardware wallets like Ledger or Trezor provide ideal protection for long-term holdings, storing private keys offline beyond hackers’ reach.
Software wallets offer convenience for frequent transactions but with increased vulnerability.
Paper wallets serve as completely offline alternatives despite physical damage risks.
Experts recommend implementing a combination approach: “Keep small amounts in hot wallets for transactions while securing larger holdings in cold storage,” with regular backups of recovery phrases.
What Are the Tax Implications of Spending Bitcoins?
Spending Bitcoin triggers capital gains tax events since the IRS treats cryptocurrency as property, not currency.
Users must calculate the difference between the coin’s purchase price (cost basis) and its value when spent.
Transactions held under one year incur short-term capital gains taxed as ordinary income, while holdings exceeding one year qualify for lower long-term rates.
All crypto transactions require reporting on Form 8949 and Schedule D, with non-compliance potentially resulting in penalties.
Can I Convert Bitcoins Back to Traditional Currency?
Bitcoins can be readily converted to traditional currency through multiple channels.
Cryptocurrency exchanges like Coinbase and Binance offer direct conversions with fees between 0.1% and 3.5%.
P2P platforms provide person-to-person transactions with negotiable rates.
Bitcoin ATMs dispense cash instantly but charge 7-12% fees.
Crypto debit cards allow for everyday spending and ATM withdrawals.
Each method presents different trade-offs between convenience, cost, privacy, and processing time.
How Volatile Is Bitcoin’s Value When Making Purchases?
Bitcoin’s value exhibits significant volatility when used for purchases. Daily price fluctuations of 5-10% are common, with historical 30-day volatility averaging 4-5% annually from 2015-2021.
This volatility creates challenges for merchants, who risk immediate value changes after transactions. Many vendors implement mitigation strategies, including instant BTC-to-fiat conversion services, short payment windows (typically 15 minutes), and stablecoin intermediaries to protect against potential losses during the transaction process.
Are There Consumer Protections When Paying With Bitcoin?
Bitcoin offers limited consumer protections compared to traditional payment methods.
Transactions are irreversible once confirmed on the blockchain, with no centralized authority to mediate disputes. Consumers have no recourse for chargebacks or refunds.
Some emerging safeguards include escrow services, multisignature wallets, and limited buyer protection policies from certain platforms.
For safety, users should research merchant reputation thoroughly, keep detailed transaction records, and consider starting with small purchases when testing unfamiliar vendors.
References
- https://changelly.com/blog/what-can-you-buy-with-bitcoin/
- https://blockchaininvestmentcouncil.com/blog/real-estate-transactions
- https://www.bitpay.com/blog/what-can-you-buy-with-bitcoin
- https://store.bitbo.io/blogs/merchants/who-accepts-bitcoin
- https://eqibank.com/blog/unlocking-growth-how-cryptocurrency-can-expand-your-real-estate-business/
- https://www.oscprofessionals.com/blog/what-can-you-buy-with-bitcoin-from-virtual-currency-to-real-world-goods/
- https://www.binance.com/en/square/post/14377548742553
- https://www.gftitle.com/post/using-bitcoin-ethereum-and-cryptocurrency-to-purchase-or-sell-real-estate-in-florida
- https://primexbt.com/for-traders/what-can-you-buy-with-bitcoin/
- https://river.com/learn/what-is-bitcoin-cold-storage/
