Bitcoin is catching a lot of appeal due to its low transaction throughput and sometimes higher fees and wild volatility. These can make it impractical to use for small purchases such as coffee. However, let’s take a look at where you can actually use Bitcoin in 2020 to buy things in the real world.
While Bitcoin may not be the most convenient cryptocurrency for smaller consumer purchases due to its 10-minute confirmation times, different transaction fees, and slower throughput, it is accepted as a form of payment in more places.
However, things are changing. Segwit has struggled with the fees to some extent, the Lightning network sees more integration and development, and a possible soft fork to add Schnorr signatures and taproot is also in the works. These advances make Bitcoin more usable and less clunky.
Who will accept Bitcoin in 2020?
Spendmenot.com released a comprehensive report based on data from Paxful and Paybis. In the report, they cover a wide variety of industries that have multiple ways to spend your BTC.
- Bling – (Jewelry, watches, luxury items) Shops like Ancora1919, websites like Etsy, Domoshop and Real Watches offer you countless opportunities to showcase your Bitcoin wealth.
- Services – (Payments, Telecommunications, Intermediaries) Places like AT&T, Dish and Bitrefill can keep you connected, Purse can give you discounts on Amazon, Gyft can get you gift cards.
- Eat Drink – Places like Crypto Coffee, Burger King, Dominoes and Subway for the fast food fix, wholesale roots for organic herbs and spices, Whiskey.De for your first-class spirits.
- Banking services – (Banking & Bill Payments) Yes, unbelievable, but not all banks hate BTC. Fidor, Goldman-Sachs, Royal Bank of Canada accept Bitcoiner. Startups like Bylls and Living Room of Satoshi allow you to pay bills in BTC.
- Online stores – There is a wide variety of stores where you can spend BTC online. Overstock, Shopify, Cryptoshopper, Bitplaza, Bitshopping, etc. You can find almost any item.
- travel – Yes, nowadays you can even fly with BTC. With CheapAir, Bitcoin.Travel, Cryptocribs, Travelbybit and many others you can plan your next trip with Bitcoin.
- cars – When you’ve mined enough bitcoin in 2009, you can buy a Lambo from Lamborghini in Newport Beach, or a new BMW, or even buy that classic muscle car from Classic Creations.
- Charitable donations – There are a variety of charities that accept BTC like Code to Inspire, WikiLeaks, United Way, Save the Children. Or you can also donate to your favorite open source project like Tor.
- Films & cinema – Watch the latest movie in chains like AMC, CineMulti and Major Cineplex.
- Online marketing, software / hardware, hosting / VPN – There are a variety of different options to suit all of your technical needs.
- Online gambling – The online gambling industry was one of the few industries that actually required pseudo-anonymity and censorship-resistant payments. Crypto usage has exploded for this industry.
Where do you prefer to spend your bitcoins? Let us know in the comments!
Images via Shutterstock, infographic by Spendmenot