Bitcoin’s rally this past year has been remarkable.
The cryptocurrency surged from $6,600 a year ago to almost $60,000 today. That’s nearly a 10X increase!
If you own bitcoin in a crypto wallet, you should feel excited about your incredible gains. However, it may seem like there isn’t much you can do with your bitcoin other than hold it or sell it.
But, as it turns out, there are many ways you can spend your bitcoin. Today, let’s take a look at six of the most fun ways to do so…
Check Out These Businesses That Take Bitcoin
Retailers: The largest e-commerce website that accepts bitcoin is Overstock, which has over 1 million products for sale. The online store also takes Ethereum, Litecoin, Dash and other cryptos. Another option is to spend bitcoin at eGifter or Gyft, which sell gift cards for popular retailers such as Amazon, Target and Walmart.
Food: Some coffee shops and restaurants in the U.S. let you pay with bitcoin, most notably Starbucks. There are also a few pizza places in New Jersey and New York where you can use bitcoin to place an order. To find local businesses, you can visit Yelp and search for restaurants that have the “Accepts Cryptocurrency” feature.
Sports tickets: In 2014, the Sacramento Kings became the first sports team in the world to accept bitcoin. Since then, billionaire Mark Cuban’s Dallas Mavericks, as well as the Miami Dolphins, began taking bitcoin. More recently, the Oakland Athletics are selling season tickets for suites for one bitcoin (currently valued at about $58,800), although that offer ends on April 1.
Travel: The pandemic continues to affect Americans’ travel plans, but once things get back to normal you can check out several websites that take bitcoin. Expedia helps you book hotel rooms, CheapAir finds discounted flights and Ships and Trips Travel has been accepting bitcoin for cruise bookings since 2014.
Space flight: OK, I admit this isn’t the most practical option. But billionaire Sir Richard Branson said his Virgin Galactic will accept bitcoin as payment for its 90-minute space flights. This new kind of tourism will set you back $250,000, or about 4.25 bitcoins at today’s price. Virgin Galactic is planning on opening its space program to customers in early 2022.
Charity: Another way to spend your bitcoin is by donating some of it to BitGive. This nonprofit organization focuses on public health and the environment, and it uses blockchain technology to provide transparency and accountability to donors. BitGive accepts over 30 cryptocurrencies, including bitcoin, Ethereum, Litecoin and Dash.
Our Blockchain-Oriented Future
More businesses are adding bitcoin to their payment options every month. But we’re still in the early stages of this digital transformation.
Just like the internet changed everything in the 1990s and 2000s, cryptocurrencies are poised to disrupt our economy and financial system.
That’s why Ian King is here to help guide you through our blockchain-oriented future.
His Next Wave Crypto Fortunes research service gives you everything you need to master the crypto market and keep up to date on new crypto developments.
Assistant Managing Editor, Banyan Hill Publishing