If you’re reading this article, chances are you have some idea of what Bitcoin is, what you might not know is what you can do with your Bitcoins. Or perhaps you’re playing with the idea of investing in Bitcoin and want to know what you will be able to spend it on. Well, it depends how much BTC you’ve got and what the current price is at the time of your purchases. Bitcoin is still not accepted globally as a payment method, however, there are some places you can spend your coins, here is a list of some of the best things you can buy with your cryptocurrency.
Want to know more about cryptocurrencies? Crypto Head has a good page for Australian’s to explore and learn more about Bitcoin and other cryptocurrencies.
A Holiday
Been dreaming of a cruise lately? Or pitching up on the sandy beaches of the Caribbean? If you’ve got enough BTC in your wallet you can book yourself a luxury holiday with Expedia who have teamed up with Coinbase for easy and accurate currency conversion.
You can book flights, hotels and pay for any other services Expedia offer, Coinbase will provide you with a conversion quote which lasts for ten minutes, after which you must request a new one.
Although Bitcoin transactions are irreversible, if you lament your purchase, you can still request a refund, which will be paid to you via cash.
Cars
It might surprise you that cars are on the list of big items you can spend your coins on. With most Bitcoin purchases, there is a select list of vendors that will allow you to use Bitcoin as payment but they are out there. Even harder still, is finding vendors that purvey luxury cars, fortunately for you, we have compiled a comprehensive list of cars you can purchase with your wallet and the vendors who will accept Bitcoin:
College/University Education
Ok, so we’ve done the luxury items, what about investing in yourself by way of education?
In 2017, the University of Cumbria became the first educational institution to accept Bitcoin as a form of payment for tuition.
Since then more colleges and universities have joined the list of institutions that accept this currency as payment. Other places include:
- The King’s College, New York
- University of Nicosia, Cyprus
- European School of Management and Technology, Berlin
The greatest thing about this is giving people the opportunity to learn and grow with assets that they already have, saving them the debt of tuition fees.
Property
Another self-investment would be real estate and you have probably heard about the people buying homes with Bitcoin in the news or on the internet. As we all know, buying a house is a big purchase and it comes with the security of owning your own home and potential to become a long term investment, should you wish to sell your house later on.
Buying a house with Bitcoin is relatively easy, however, the main reason that it could be hard for some to purchase property with this cryptocurrency is that you need the buyer/seller to agree on exchanging the property in Bitcoin. Fear not, this does not mean that it is tougher, in fact, sites like Open Listings are now listing properties that can be bought via Bitcoin and there are estate agents that are experienced in dealing with Bitcoin house purchases. We recommend doing your research before launching into this one but it’s not an impossible feat.
Ethereum
If raising your portfolio feels more up your street, why not spend some of your Bitcoin on more cryptocurrency and broaden your profile? 1 bitcoin will get you roughly 67.9 of Ethereum (may be subject to change). It may not have been around for long, but this experimental blockchain is hedged to assist entrepreneurs in setting up self-sufficient companies. So if you want to invest and grow, Ethereum is the purchase for you.
An Investment
Admittedly, these examples are big purchases and they are based on the assumption that you have a big wallet. You can however, make smaller purchases with Bitcoin online and offline. For example, there are taxi services and restaurants that accept Bitcoin. Most Bitcoin investors will wait until BTC prices hike enough for them buy out and make larger purchases, larger investments in products and services that they either dream of buying or want in order to further themselves.
So, what would you spend your Bitcoin on?