The first-ever real transaction of bitcoin was pizzas. An individual purchased two pizzas for 10,000 bitcoins. At the beginning of bitcoin, there was only pizza, but today, you can spend bitcoin on a wide range of places. Today, you can purchase almost everything with bitcoin, both offline and online.
There is a long list of options or areas where you can spend bitcoin that we will read in this article. Before that, let’s cover the basics of bitcoin and learn what it is. Oil Trading bot is an amazing platform that can help you trade bitcoin and also let you know about the places where you can pay with bitcoin.
What is Bitcoin?
Bitcoin is a virtual currency that was created in 2009 by Satoshi Nakamoto. Bitcoin is decentralized in nature, along with being permissionless, transparent, and public. It is more like traditional currencies that can be used for the exchange of goods and services. Users can pay with bitcoin in both online and offline places. If you are a crypto owner or want to invest in bitcoin, you must know the places where bitcoin is accepted. So let’s check out areas or places where bitcoins can be used.
Online Household items
There are multiple websites that sell a wide range of household items. You can check out the most popular websites like Best Buy and Amazon and buy anything of your choice and pay in Bitcoin as these websites accept bitcoin. Users can also use bitcoin to buy gift cards and services that only allow buying gift cards and can redeem them on websites like Amazon and BestBuy. Popular tech companies like Microsoft and more have started allowing applications and games for bitcoin. Games have now added bitcoin as a payment method.
Tipping and Charity
The best way to spend your bitcoins is by spending them on different uses. You can now tip or do charity with bitcoin as many organizations and charity houses have started accepting bitcoin donations. An organization that accepts charities can now set up charitable donations using API.
Offline Travel
Now, users can pay for a hotel, book flight tickets, book cruises, and everything with bitcoin. Many websites have already started allowing users to do all the things for travel with bitcoin. Even you can pay for fuel with bitcoin. With each passing day, more and more websites and businesses are started accepting bitcoin and providing high convenience to people to do everything without even stepping out of their homes.
Food
Bitcoin restaurants have been developed that allow users to download the Android or IOS app and make payments in bitcoins. Not only bitcoin restaurants but other regular restaurants and hotels accept bitcoin as payment for food.
Now that we have learned the areas where bitcoin is widely accepted, we will learn how to spend bitcoin.
How to spend Bitcoin?
Spending bitcoin is similar to spending cash, but this can only be done digitally. In order to pay with bitcoin, you don’t have to provide your personal information to anyone. You need to buy bitcoin from crypto exchanges that are specially developed marketplaces. After buying bitcoin, you need to get a digital wallet to store your digital currencies.
You can make the digital payment by logging into your wallet; you can either use a QR code scanner to scan the QR code of the receiver or can use your bitcoin address. Some wallets allow you to pay using your bitcoin wallet address, whereas some wallets allow you to pay using a QR code.
Many payment processors provide users with QR codes while checking out, representing the payment amount and bitcoin address. With QR codes, it is quite easy and fast to pay from your digital wallet. All you need to do is scan the QR code, and by scanning, it will automatically fill the receiver’s bitcoin address and add the amount that is requested to pay.
You are only required to hit the send button, and the payment is made. Another option that is offered is to make payments with a bitcoin address. Users are required to enter the bitcoin wallet address of the recipient manually. In order to make payment to any bitcoin address, you need two things: the recipient’s wallet address and the number of bitcoins required to transfer.