What can I buy with Bitcoin? - Bittr Academy

Today, Bitcoin can be used to purchase a wide range of products and services, from fresh produce to online goods, travel experiences, and more. Thousands of vendors now accept Bitcoin. Here’s a look at where and how to spend your Bitcoin.

Finding Bitcoin-Accepting Vendors near you

There are useful tools to help you discover local merchants who accept Bitcoin. Websites like btcmap.org provide a global view.

Try it out to see if any merchants near you accept Bitcoin, and consider supporting them!

Why spend Bitcoin?

While some people prefer to hold their Bitcoin in anticipation of long-term growth, using it to buy goods and services can help advance Bitcoin’s role as a global currency. Spending Bitcoin encourages vendors to adopt it.

A common strategy to maintain your Bitcoin stack is “Spend-and-Replace”: if you spend a certain amount of Bitcoin, you replace it by purchasing an equivalent amount. This way, you contribute to Bitcoin’s economy without reducing your stack. With Bittr for example all you need to do is to send a single bank transfer to refill your Wallet.

Bitcoin Circular Economies

A Bitcoin Circular Economy is an ecosystem where participants earn, spend, and reinvest Bitcoin without converting it to fiat. Participants range from consumers to vendors, and even developers of vendor discovery tools and payment processors.

For Bitcoin to function as a global payment method, there needs to be a strong network of both merchants willing to accept Bitcoin and customers willing to spend it.

Where can I spend Bitcoin today?

As of recent studies, thousands of businesses around the world accept Bitcoin. Here are some major categories where Bitcoin can be used:

1. Digital Goods and Services

Bitcoin is well-suited for online purchases. VPN services like iVPN, ProtonVPN, and Mullvad VPN accept Bitcoin. Domain services like Namecheap and gaming platforms like Zebedee, which offers in-game purchases and rewards in Bitcoin, are also popular.

Podcasting apps like Fountain and Breez enable users to tip creators with micro-payments over the Lightning Network, contributing to a more decentralized internet economy.

2. Bitcoin Tourism

Destinations like Bitcoin Beach in El Zonte, El Salvador, and Bitcoin Jungle in Costa Rica have built Bitcoin-friendly communities where visitors can pay for local goods and services in Bitcoin. Other Bitcoin-centric communities have emerged globally, including in Switzerland, Brazil, South Africa, and Brazil.

These communities demonstrate how Bitcoin can support local economies and empower vendors through direct transactions with customers.

Image Source: Andrew Begin of Galoy

3. Gift Cards

Buying gift cards with Bitcoin provides flexibility to spend Bitcoin at a wide range of retailers. Platforms like Bitrefill and The Bitcoin Company offer gift cards for major stores, including Amazon, Walmart, and Uber, enabling Bitcoin holders to purchase everyday goods.

4. Direct-to-Seller, Private Bitcoin Transactions

Bitcoin is also used for high-value items like real estate or luxury goods. In 2022, a study from Redfin showed that Bitcoin savings contributed to down payments for first-time homebuyers. However, transactions involving large purchases require careful planning due to Bitcoin’s finality and price volatility.

What you need to know when paying with Bitcoin

Here are some things to keep in mind when transacting with Bitcoin:

Technology Readiness: Not all private sellers or vendors are set up to accept Bitcoin.
Transaction Finality: Bitcoin transactions cannot be reversed, so both parties must agree on terms before sending funds.
Lightning Network: Payments through the Lightning Network are nearly instant and low-cost, while on-chain transactions can take up to 10 minutes to confirm. For on-chain payments, including a sufficient transaction fee is important to avoid delays. If the fee is too low, consider using a “Replace-by-Fee” (RBF) transaction to increase the fee for faster processing.

Conclusion

As Bitcoin adoption grows, more vendors are seeing the benefits of accepting Bitcoin for goods and services. To support the growth of ₿-Commerce, consumer participation is key. Resources like Bitcoin for Local Business can help start conversations with merchants about accepting Bitcoin.

Final Thoughts

Discovery Tools: Platforms like BTCMaps make it easier to locate Bitcoin-accepting businesses.
Bitcoin Tourism: Bitcoin-friendly communities and local producers are expanding globally, providing unique spending options.
Avoiding Traditional Payment Issues: Bitcoin transactions bypass traditional processors, minimizing fees and chargebacks.