Bitcoin in Real Life
The chances are you have already heard of Bitcoin. A sort of “Buzzword” around town in recent years. What was once something that was consigned to the fringes of the tech community, is now gone mainstream. Bitcoin has become a force to be reckoned with.
Before now retailers, pubs, and other venues have been relatively skeptical about adopting BTC as a method of payment. For businesses to accept BTC they need to invest in new technology. The cost of accepting Bitcoin is typically much lower than that of traditional fiat or credit/debit card transactions. However, it has been a topic for debate amongst some. Nevertheless, barriers to entry have lessened recently. As this continues, we will see Bitcoin become more and more evident across a broader range of industries.
New exchanges / FinTech startups that have designed their own credit/debit cards have helped in the adoption ofBitcoin. These allow users full control over their own transactions. Cutting out the middleman, individuals can own Bitcoin in a matter of seconds at low cost.
You will hear about Bitcoin in the media, it is everywhere on social media, heck even your friends and family are spreading the “BTC” word. If you are new to the crypto realm and have been toying with the idea of joining the ranks you might be surprised at just how much you can buy with Bitcoin in the real world. Yes, it can be daunting, but do not fear this guide will give you a comprehensive overview of where & how you can buy Bitcoin and what you can spend it on. Let’s get started.
How Can I Buy Bitcoin?
Buying Bitcoin is easier than you may expect. Zeply offers a simple and secure way to buy Bitcoin. They allow you seamlessly buy Bitcoin using your credit & debit card with zero fees. Read our how to buy Bitcoin with Credit/Debit Card guide and get started.
How Can I Use BTC?
So now you know where you can buy Bitcoin let’s see how you can use it in your everyday life.
1. Bitcoin Debit Cards
The easiest and most sought-after way to spend crypto in real life is to use a Bitcoin debit card. To use one of these debit cards you will need to open a wallet. With a Bitcoin Wallet, you can easily connect your credit or debit card to an account and use Bitcoin as freely as you please. Bitcoin is backed by secure processing networking. Which means that when you spend BTC using your card it has the same zero-fraud liability as you would with any regular credit or debit card purchases.
Better yet, you don’t have to go on a scavenger hunt to find places that accept BTC as a payment. These cards work by simply converting your Bitcoin into the currency accepted by the teller at the point of purchase.
2. Bitcoin ATMs
Bitcoin ATMs are one of the fastest and easiest ways to carry out your crypto transactions. These ATMs accept fiat in exchange for Bitcoin with some allowing you to sell your BTC for the local currency. We have seen a significant increase in the number of ATMs and this rise is parallel to the asset’s surge in value.
As of February 2021, there had been a growth of 129.48% – rising from 6, 759 to 15,511. The same findings show (based on a global population of 7.8 billion) that one BTC ATM would serve 505,856 people, which is a penetration growth of over 15X in just under 4 years.
Bitcoin’s value is very volatile – some might even say it goes up and down like a yo yo! Nevertheless, those that have believed in the asset’s potential and invested over the last decade are now millionaires. It is believed that the infinite supply of BTC is what gives the asset value and as this supply runs out the value will only increase.
For many BTC is a holding (HODLing) game. Hodlers hold the asset for longer periods with the aim of earning from its growth potential. In fact, people will hold until the supply of coins runs out in the hope, they will be sitting on a small fortune that they can either sell or trade and make a hefty ROI.
However, as promising as it sounds individuals should enter with caution as the asset is unpredictable, and it is unknown what the future will hold. So, start small investing small amounts at a time.
Another great way to use the BTC you buy is to trade it on online exchange platforms or through online brokers. The key here is to make volatility your friend, if you are shrewd there are substantial profits to be made by trading cryptocurrency.
Where Can I Spend Bitcoin?
Spending Bitcoin is easier than you think. The more the crypto matures the more we will see it become an everyday accessory for millions. For this reason, those retailers and businesses who decide not to accept Bitcoin as a payment option could find themselves being left behind. So, from paying rent to buying coffee let us look at some of the wonderful “on-trend” examples of where BTC is recognized.
1. See the World one BTC at a Time
Once Covid has passed and the freedom of travel is given back, many will jump at the idea, even if it is within their own country. So, you will be happy to know that you can use Bitcoin to purchase flights and accommodation through websites such as Expedia, Cheapair, and Surf Air.
Ever dreamed of going to space? Yes, you heard right, for all you adventurists out there you can even use BTC to pay for space travel with Virgin Galactic.
2, Entertainment 21st Century Style
Microsoft accepts BTC as payment in its app stores allowing you to download app-based services and your favourite games or music and pay with Bitcoin.
Furthermore, Blockchain and Bitcoin alike have been known to disrupt the music industry. As musicians and Fiver online stores start to accept BTC in return for merchandise or to purchase their music. Among the trendsetters are well-known idols such as Panic at the Disco, G-Easy, Alice Cooper, Bjork, Weezer, and Mariah Carey.
It’s not only the music industry that is down with the cool kids, however. Gaming developers have started to integrate Bitcoin’s Lightning Network into their games. Giving players access to Bitcoin payouts or allowing them to complete in-game purchases via BTC. For the Goliaths of the gaming world, these in-game rewards could offer a “stake” in your favourite games and a great way to monetize your favourite hobby.
BTC & the Professional World
BTC is a financial work of genius in its own right. So, it should come as no surprise that many within the financial and legal sector are now expanding their practices to accommodate this form of payment. PWC led the way and in 2017 accepted its first payment in BTC. However, this was not the firm’s first foray into the crypto world. In 2014 they released a report that explored how digital coins like Bitcoin could impact a broad range of industries, and they were right! Once the trend sat in other “Big Four” firms joined the line, Ernest and Young following suit not long after.
Buy Gift Cards for a loved one from some of your favourite brands such as Just Eat, Deliveroo, Argos, Spotify, Foot Locker, Fortnite or Netflix, and many more using BTC. This can be done on Bitrefill.
Likewise, you can shop online and even buy products from Amazon with cryptocurrencies on platforms such as Purse.io.
If you’re a coffee connoisseur you can now start your day an even better way. Starbucks and other well-known coffee shops have adopted BTC as a method of payment.
Planning a trip to Hungary? Remember to bring your BTC along for the ride as you can pay your taxi fares using cryptocurrency.
The Finer Things in Life
Did you know that you can buy and sell Real Estate with Bitcoin or other cryptos? If not, you do now! Well-known sites include Bithome and comparemymove.
Or maybe you fancy being a real life Tom Hanks and retiring to a remote island where the waters are so clear you can see the ocean bottom. Does this sound like your kind of dream? There are Paradise islands for sale that can only be bought through BTC.
The future is digital, and those merchants that are accepting digital assets are bullish on BTC. Bitcoin is borderless, fast, and as it matures it is becoming a more universal currency. The same way the internet revolutionized how everyone communicated, cryptocurrencies are transforming how we trust and transact. Plus, it is growing at a rapid pace and its value increasing by the day. So, now that you know where you can spend BTC all that is left is to fill up your wallet, remember Zeply allows you to buy instantly with 0% fees what’s not to love!