It’s the new currency for our new, digital times, but how many online – and offline – services actually accept Bitcoin? Read on to find out!
Bitcoin, the cryptocurrency that was invented by an unknown programmer using the name Satoshi Nakamoto, is a digital payment system which was created and is controlled electronically. Bitcoins are not printed like traditional currency, but are used in a peer-to-peer system with transactions taking place directly between users, without a middleman.
Using Bitcoins
More and more merchants are accepting Bitcoin as it becomes more popular among people. There are a number of advantages of using Bitcoins over other currencies, which explains their increasing popularity. They can be used to purchase goods anonymously, and small businesses do not have to cope with credit card fees. As an online currency they are ideal because, not being tied to any one country, international payments are cheap and conversions are unnecessary. People who own Bitcoins store them in a digital wallet on their computer or in the cloud. This in turn acts like a bank account, allowing users to send or receive money. There are a growing number of businesses that accept Bitcoins as currency.
Entertainment and Electronics
Companies such as Microsoft allow users to buy content using Bitcoins on XBox and the Windows Store. TigerDirect, a major online electronics retailer, allows users to make purchases with Bitcoin. Dell, the American privately owned multinational computer technology company, is another big name that accepts Bitcoins. Newegg.com, an online electronic retailer, is another store that is now using BitPay to accept Bitcoins as a payment method.
Online Casinos
An increasing number of online casino sites accept Bitcoins as a payment option. They allow customers to deposit and withdraw into their casino accounts using the digital currency, offering all the benefits that Bitcoin users enjoy, such as anonymity, security and low fees. While there are fewer choices available for Bitcoin users when it comes to finding a casino to make deposits using this method, it is a welcome option. Zynga, the mobile gaming company, is another big name in the gaming industry that accepts Bitcoins.
Travel Companies
Travel companies are another category of businesses that accept Bitcoins, and users will have a number of companies to choose from if they are looking to make payments using this currency. CheapAir.com, a travel booking site for car rentals, hotels and airline tickets, accepts Bitcoins, as does Expedia.com, an online travel booking agency. Bitcoin.Travel is another site listing accommodation, bars, beauty salons, apartments and attractions around the world that accept Bitcoin.
Food
This is not an area that you might expect would accept Bitcoins; however, there are a growing number of businesses that are accepting this payment method. PizzaforCoins, Whole Foods, Bitcoincoffee.com and Helen’s Pizza in New Jersey are all examples of food stores that accept Bitcoins.
Going Forward
This is a small taste of the many businesses that accept Bitcoin, with the number and categories of businesses growing rapidly. Small businesses certainly aren’t missing out on this growing trend, and with the constant advances in technology, it is becoming simpler and quicker to use Bitcoin as a form of currency than ever before.
