It may surprise many that a person can buy goods or services using cryptocurrencies. Crypto users are using them to buy sandwiches, order gifts, book air tickets, purchase gold, and other products.
A programmer made the first purchase with a digital currency in May of 2010. He bought two large Papa John’s pizzas for 10, 000 bitcoins. The first purchase generated a lot of news but nothing more. It is only recently that companies have started supporting cryptocurrency payments.
Let’s take a look at some places where users can spend their digital currencies. Users of bitcoins can spend them at a lot of places compared to altcoins’ users, who have limited options.
Overstock: Internet retailer Overstock partnered with Coinbase, a digital currency exchange, to enable Bitcoin payments in 2014, becoming the first major retailer to do so. Now, it accepts altcoins as well. On the retailer’s site, crypto users can buy furniture, home décor items, apparels and other things using Bitcoins, Ethereum, Litecoin, Dash, and Monero.
Microsoft: The tech giant first started accepting digital currencies as payments in 2014. However, in January of 2018, it temporarily stopped supporting Bitcoin as a payment method because it felt it was an “unstable currency.” However, Microsoft soon restored Bitcoin as a payment option. Bitcoin users can spend their digital coins to purchase apps, games, and movies in the Windows and Xbox online stores.
Shopify: The popular e-commerce platform accepts multiple cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Shopify also encourages merchants to accept Bitcoin payments through their e-commerce sites. It offers them a Bitcoin payment gateway for their website.
Forra: Forra, an e-commerce site like eBay, allows its customers to sell and buy goods using digital currencies. It enables Bitcoin, Ethereum and Litecoin transactions. The site claims to be the “real use case for crypto.” It aims to connect cryptocurrency and e-commerce to create “lowest fee way” to sell something online.
OpenBazaar: OpenBazaar is a first of its kind site. It is a decentralized marketplace that has no place for middlemen just like cryptocurrency systems. Sellers and buyers can connect with each other directly. There is no fee to list items, and sellers also do not have to pay when their items get sold. Bitcoin, Bitcoin Cash, Litecoin, and Zcash are the cryptocurrencies supported in OpenBazaar.
Wikipedia: Users can spend cryptocurrencies on projects and causes that they support. They can support Wikipedia, the popular online encyclopedia, with digital currency. In January of 2019, the site enabled bitcoin cash donations via Bitpay. It began accepting Bitcoin via Coinbase in 2014, and in January of this year, it moved to BitPay. It continues to support Bitcoin, along with Bitcash.
Crypterium: The fin-tech company offers Crypterium App, which allows users to store, buy, exchange, and transfer popular cryptocurrencies, including Bitcoin, Ether, Litecoin, and USD coin. At present, the app enables users to store their funds in Bitcoin, Ether, Litecoin, and USD Coin, as well as Crypterium.
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