Worawee Meepian / Getty Images/iStockphoto
Bitcoin and other cryptocurrencies continue to make headlines, especially as the crypto market swings in tandem with stocks. But, even though many investors are turned off by crypto’s volatility, it’s important to remember that it has a practical use, too.
Advice: Unplug These Appliances That Hike Up Your Electricity Bill
See: Here’s How Much Cash You Need Stashed if a National Emergency Happens
“Bitcoin is frequently seen as a speculative tool by retail investors, with the potential for future growth,” said Jonathan Merry, director at Bankless Times. “However, Bitcoin was created as … a decentralized payment method that allows users to manage their accounts and make purchases without having to rely on government fiat currencies.”
CRYPTO OFFER: Buy Bitcoin and crypto instantly! Sign up for Gemini Crypto Exchange and start investing with as little as $100 today.
Thanks to its increased popularity, particularly over the past few years, crypto is now accepted by a large number of merchants as a payment method. It doesn’t boast the same degree of adoption as fiat money, but Merry said there is a surprising number of sites that accept Bitcoin and even some other cryptocurrencies. Here’s a look at some of the items you can buy using crypto.
Jeremy Wagner, a financial analyst at Trading Pedia, said it’s possible to book a plane ticket or rental car using crypto if you book through Expedia. The site accepts Bitcoin through its partner Coinbase for a small transaction fee. “This means that you can book your next vacation using Bitcoin,” he said.
Wagner added that several car dealerships also accept crypto. For example, you can purchase an Audi with Bitcoin by using the platform CryptoExchange. BMW also accepts crypto at some of its dealerships. And Tesla allows customers to buy cars with Dogecoin.
Several retailers also now accept Bitcoin as payment, according to Wagner. If you want to furnish your home using crypto, you can do so by shopping on Overstock.com. You also can go on a shopping spree at Nordstrom, which also allows customers to use Bitcoin as a form of payment. In the market for a new computer? Newegg has been accepting digital currencies since 2014 and currently takes multiple cryptocurrencies — including Bitcoin, Litecoin, Dogecoin and many others.
You can now buy a house using mortgages that are backed by crypto, according to David Peterson, co-founder of Bankdash. “These types of mortgages work by consumers putting up their crypto assets as collateral and receiving a mortgage loan to buy a house in return,” he explained. “…….