Bitcoin today evolves to a great extent. It makes the switch from being a currency to an investment. And thus, Bitcoin today becomes a viable alternative to many centralized payment systems existing in the market. As a result, we can expect that a store nearby may accept bitcoin payments in 2019 and beyond. The rise in bitcoin payments gives us a small glimpse of the future i.e. it may overtake the dollar anytime soon. Despite all the rumors going around, Bitcoin today can still be used to pay for things electronically, if both parties willing to. However, the use of bitcoin today is mostly seen as a long-term investment. It is seen as an asset much like Gold and Stock.
Guide to Merchant Accepting Bitcoin Today
Adoption of bitcoin today as means of payments among merchants (online/offline) has driven it to the next level. Though Bitcoin’s on-chain structure has a high-value settlement layer than payment networks, several merchants accept bitcoin today. Furthermore, the proliferation of Lightning Networks provides a scalable infrastructure that Bitcoin today needs to function as P2P digital cash. The continuous development of lightning apps and their integration with merchants help bitcoin today to expand its adoption.
With so much speculation surrounding Bitcoin today, it’s worth evaluating what can you buy with bitcoin in 2019. So, what are we waiting for? Let’s get going…
Where You Can Spend Bitcoin Today?
With the introduction of various bitcoin wallets in the market, sending or receiving bitcoin with minimal fees and no intermediaries has become super easy. Search for the best bitcoin wallet based on your region and start sending or accepting this digital currency. But this is not the end. Many merchants today have started accepting bitcoin as a legitimate alternative payment method to fiat currencies for goods and services buying/selling. From the merchant standpoint, the inherent advantages of bitcoin include
- Reduced transaction fees from major payment network cards
- Broader market access
- And, a final settlement without chargebacks
Thanks to Bitcoin’s wider acceptance, merchants now put the tag “Bitcoin Accepted Here” in front of their store.
Bitcoin Payment in Travel Industry
In 2019, several travel companies come forward to accept bitcoin as an alternative payment. Many reports accept the fact that Bitcoin is now available for flight booking, hotel booking, and more. For example, Expedia, BTCTrip, CheapAir! All of them accept bitcoin payments. BTCTrip is designed to find flights and make direct payments using bitcoin. On the other hand, CheapAir uses BTCPay Server to accept bitcoin. Virgin Galactic’s customers can also use bitcoin for payments. See the company’s claim below:
Virgin Galactic is one of the universe’s most exciting, futuristic companies. Bitcoin, the virtual currency, has really captured the imagination recently as one of the world’s most innovative businesses looking to the future. So we think it is about time Virgin Galactic customers can choose to pay with bitcoins.
Buying Products and Applications Online
Bitcoin purchases have made their largest footprint so far among online retailers. Major online retailers like Bic Camera (Japan) and Overstock accept bitcoin payments directly. Besides, Coinbase Commerce enables the integration of bitcoin payments for a whole lot of e-commerce platform websites. Seeing a major acceptance, Gift card companies couldn’t help them jumping in this bandwagon. Today, gift card companies and sellers like Gyft, eGifter, and Etsy also enable buying with bitcoin at their portal.
Purchasing Gold & Silver with Bitcoin
If you tell anyone about buying gold and silver with bitcoin in early days of acceptance, then you may get the title of “FOOL”. However, things get change today. Nowadays companies like APMEX, JM Bullion, GramGold welcome customers willing to buy gold/silver with bitcoin.
Real Estate Buying with Bitcoin
Luxury real estates emerge as another sector where buying and selling of properties happen using bitcoin nowadays. Bitcoin Real Estate is a popular site that claims it accepts almost all of its payments through bitcoin. Again, several reports come out of Dubai and the U.S. that suggest buying real estate properties with bitcoin penetrates the market a long ago. However, the pace is taking place now.
Charitable Organizations accepting Bitcoin
According to WIKI’s fact sheet, a list of charitable organizations accept bitcoin donations. Citing the list below:
Name Topic Human Rights Foundation Promoting and protecting human rights and fundamental freedoms. United Nations Children’s Fund (UNICEF) Children’s Rights. The Water Project Clean, safe, reliable water and sanitation solutions. Save the Children Children’s Rights. War Child Support and rehabilitate child victims of war.
To sum it up, the volatility of bitcoin price currently makes it hard for merchants to accept bitcoin payments. However, there are still a myriad of merchants, online games, and services to list that accepts bitcoin payments. And, the number is growing.
Don’t forget to include your thoughts on this! If we forget anything to include; tell us in the comment section!
Check how you can buy bitcoin in Malaysia