Bitcoin is the most popular cryptocurrency in the cryptosphere. It is because of BTC that altcoins are experiencing growth in their adoption with each day. Whenever people hear of BTC, they often relate it with a trading asset only. But it possesses and fulfils other some other purposes as well; like you can use it as an investment instrument and not to forget that it is a crypto COIN, so it can be used for buying products or services.
There are many advantages to making Payments with Bitcoin, one of them is that there is no regulatory body controlling it. In this blog, you will learn about more advantages of paying for goods and services with Bitcoin, the leading digital currency. But first, let us look at what you can buy with BTC.
Things You Can Buy Using Bitcoin
There is no market where BTC is universally accepted as a payment option. It solely depends on a particular company and organization to accept BTC as a method of payment. You can find multiple companies from different sectors that are giving users the benefit of paying for the products and services with Bitcoin and some other cryptos. Let us have a look at some options where you can utilize your BTCs:
As everything is available online nowadays, people consider purchasing a video game online. Many leading video game selling brands such as Zynga, Big Fish Game, Play Station Network, Xbox etc are accepting payments using BTC.
Windows and Xbox Content
Along with buying games, you can use Bitcoin to buy movies and apps too in the Windows and Xbox stores. Windows has been accepting BTC in its online Xbox stores since 2014.
You can use Bitcoin for booking flight tickets and making payments for your travel as well. Some travel platforms that accept BTC payment for booking flights and hotels are Webjet, Expedia, CheapAir, Bitcoin Travel, etc.
BTC can be used for purchasing gift cards. Purchase of gift cards is one of the simplest ways to buy products from both small and large businesses with the cryptocurrency, online and offline.
Above were some of the major areas in which payments are made using Bitcoin. But there are some other sectors too which allow you to pay using BTC for products and services offered. Many shops, pubs, casinos and websites accept Bitcoin. Various companies in different sectors of services are expanding their client base by Bitcoin payments. These service providers include direct broadcast satellite service provider, online dating websites, online newspaper subscription and many other such companies.
Advantages of Paying with Bitcoin
We saw that there are multiple companies from various sectors that have started accepting payments with BTC. Now let us learn what are the benefits of Paying with BTC in the following points:
Bitcoin purchases are anonymous and discrete. With a Bitcoin purchase or transaction, you cannot trace the user. When the user publishes his Bitcoin transactions on his own will, then only his purchases are linked with his personal identity. If he/she does not publish the transactions, there are no chances to trace it back to him/her. Also, the anonymous Bitcoin address that is produced for user purchases keeps changing with each transaction.
No Third-party Interruptions
Having no regulatory body such as governments, banks and any other financial authorities, is one of the major benefits of Bitcoin. There is no authority that can interrupt user transactions. With Bitcoin payments, you experience a complete peer-to-peer system. Here, you see great freedom as compared to your national currencies.
Currently, other modes of payments and transactions such as standard wire transfers and foreign purchases involve higher transaction fees and exchange costs. But Bitcoin has no government, financial or other intermediaries involved, so the transaction costs are very low.
Same as other online payment systems, BTC users can pay for goods and services from anywhere they have access to the Internet. This means that buyers won’t have to go to a bank or stores to buy products and services. Here, it is not even required to provide personal information to complete any transaction.
So, we can say that paying with Bitcoins is a superior way of making payments. Bitcoin transactions are secure and fast which saves your time along with providing safety and security in your payments. Also, any transfer in Bitcoins processes quickly by eliminating the difficulty of general permission requirements and waiting periods. All these advantages encourage brands and users as well to make payments using Bitcoins.