The Bitcoin industry was worth $20.63 billion in 2022 but is expected to have a market value of $132.91 billion by 2030. It’s clear it is enjoying rapid growth, and you might be one of the investors buying up this popular cryptocurrency.
But you may wonder, ‘Where can I spend Bitcoin?’ and how does the process work? If you’re not familiar with this cryptocurrency, the ways in which you can use it can seem confusing.
We’re here to take the mystery out of buying with Bitcoin, making it easy for you to purchase goods and services with crypto.
Let’s find out more.
Online Retailers
As Bitcoin is an online currency, it’s no surprise that online retailers have been some of the first to accept it as a form of payment. Microsoft has been accepting Bitcoin since 2014, and other massive companies such as the online home products retailer, Overstock, are also happy to take payment via this cryptocurrency.
This makes spending crypto simple while you shop from the comfort of your own home.
Where Can I Spend Bitcoin Offline?
Although using crypto for online purchases is straightforward, you can also buy goods and services offline. For example, you can transfer your cryptocurrency to a Bitcoin debit card and use it in-store.
This can be an attractive option if you have Bitcoin and would prefer to spend it after browsing products in a brick-and-mortar store.
Gift Cards
There may be times when buying with crypto isn’t practical. For example, you may want to purchase a present with crypto but you aren’t sure what the recipient would like. In this scenario, giving a gift card could be a better option.
The good news is that you can buy a gift card with Bitcoin and give it to a friend or family member. They can then buy the present that they really want from a retailer.
Buying More Bitcoin
You can make substantial profits by buying and selling Bitcoin at the right times. This means spending your Bitcoin to buy more Bitcoin can be a lucrative investment.
It’s simple to quickly and conveniently carry out these transactions at a Bitcoin ATM located in your area. If you haven’t been to a local Bitcoin ATM, or you’re traveling and want to find your nearest one, you can view this Bitcoin ATM map.
There Are Many Ways to Spend Bitcoin
There’s no need to ask, ‘Where can I spend Bitcoin?’ when you know about these 4 great options. Many online businesses now accept cryptocurrency, and you can also make in-store purchases with certain retailers. There is also the option to buy gift cards, and you could make more money by buying and selling crypto at a local Bitcoin ATM.
Your only decision is deciding where to spend your cryptocurrency first.
If this post has helped you learn more about buying with Bitcoin, check out more of our helpful blog posts.