Too many people are looking at Bitcoin like it is some sort of investment asset, when in reality it is a means of transaction. It is a currency you can swap for other goods and services, and we have entered the golden era where confidence is high enough in Bitcoin to the point where even governments are accepting it as a form of payment for taxes. Here are a few things you can buy with Bitcoin.
Buy Other Crypto Currency
Buy yourself some Bitcoin, go to an exchange, and they will allow you to buy other crypto coins, or buy Etherium, with which you may buy other crypto coins. If we are being honest, most other cryptocurrencies (alt coins) are being purchased as investments rather than for their original use.
Some altcoins offer genuine anonymity, and others allow companies to pay other people overseas without enduring nasty charges, but the fact is that Bitcoin offers mostly all of these perks without the need to invest in other coins. Even though Bitcoin use is not anonymous, it takes a lot of technical skill to trace transactions.
Buy Apple Products
You can buy all the latest Apple products with Bitcoin, not directly from Apple (yet) but from ZUB.co.uk and best of all you can buy them cheaper. ZUB.co.uk offer a 10% discount on everything including the latest iPhone 11 Pro. Bitcoin has many benefits for merchants which ultimately allow them to save money at the end of the day. ZUB.co.uk use the savings to attract its customers by selling items for less than the retail price.
Pay For Luxury Hotel Stays
More and more luxury hotels are accepting Bitcoin because using Bitcoin is cheaper than exchanging foreign currency. What’s more, the use of credit cards is often advised within hotels, and where credit cards are handy for making temporary deposits while staying at a hotel, credit cards are absolutely the worst thing you can pay with. Fees and extra charges are rampant if you buy overseas with your credit card.
It is far cheaper to use cryptocurrency to pay if you are coming from overseas, and in many cases it is easier if you are paying online in advance. The only sad part is that some hotels are using Bitcoin conversion companies at their checkouts, which often means you are stuck with the Bitcoin conversion costs rather than the hotel having to pay them.
Buy High-End Electronics
Several Asian firms have started accepting Bitcoin, as well as Rakuten, which is the Japanese version of Amazon. What’s more, the Rakuten company has noted a marked increase in its sales of high-end electronics since allowing the use of Bitcoin. The reasons for this are numerous, but there is a strong suspicion that many neighbouring countries contained people who were unable to purchase high-end electronics from Japan with their currency, so they are using Bitcoin instead.
Other theories are that importers and exporters are making good use of Bitcoin to exploit the high-low prices that exist between one country and another. Quite why Bitcoin hasn’t affected other import/export sectors as deeply is probably due to the immaturity of the markets and the slow rate at which Bitcoin is being adopted.
Buy VPN Services
Want to make it more difficult for government agencies, hackers, spammers, and scammers to find out which VPN service you use, then buy your VPN services with Bitcoin. The biggest VPN services already accept Bitcoin, and it adds yet another layer of security and annoying to your online activity. There are only a few areas where Bitcoin is the clear front-runner when it comes to usability, and the purchase of VPN services is one of them.
Similar arguments may be made for other annoying services such as the “Duck Duck Go” browser, or the “Hide My Ass” function on websites. Purchasing services and devices that relate to the dark web may also benefit from the use of Bitcoin transactions.
Put Money Into Foreign Investments
Buying anything overseas, from company bonds to antique plates, is going to be a lot cheaper with Bitcoin. As mentioned earlier, the cost of converting from one currency to another is very expensive and is loaded with hidden fees and expenses. Bitcoin is fast and it has transparent fees, which means there is no undue delay such as the delays you get when an overseas ACH (Automated Clearing House) is involved.
There are some countries and some states where you may pay your tax bills with Bitcoin, and there are numerous punitive services around the world that accept Bitcoin. Common examples are car clampers, car towers, and parking fines administrators.
Pay Remote Workers
There are two reasons why Bitcoin is becoming a more popular method by which you may pay remote workers. The first and most obvious reason is that the payer may send money overseas quickly and without undue charges if Bitcoin is used.
The second reason is because some remote workers have trouble receiving, converting and storing money. This is sometimes due to unreliable banks, poor quality services, and scammers, but is also due to the cost of some bank and online accounts. For example, people in developing countries will have to work half a day just to afford their bank charges for the month. Whereas Bitcoin may be transferred, received and stored without additional fees.
Conclusion – Should You Buy With Bitcoin?
The biggest benefit of Bitcoin at the moment is related to overseas transactions. Few people know just how user-unfriendly the foreign exchange system is. There are transaction fees, account fees, withdrawal fees, and exchange fees. Plus, most exchanges will skim from the market rate, which means you get less bang for your buck. With Bitcoin, you avoid almost all of these charges, and even the fees you do pay are very transparent. If you are making a purchase that requires a change of currency, then strongly consider using cryptocurrency instead.