Since its inception, bitcoin has brought the potential for many real-world use cases. One of the most well-known is as a method of value transfer from one person to the next without an intermediary. Although being created over a decade ago, bitcoin continues to serve this purpose for more retailers than ever before. Not only have retailers provided bitcoin as a payment option, but peer-to-peer exchanges in combination with a bitcoin escrow service are being used at a greater pace to fulfill secure transactions than ever before.
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Domain and hosting
For those looking to launch a business, platforms like Namecheap can be used to purchase domain registrations and web hosting services. Here users can access hundreds of domains and even take advantage of bargain domain names. Namecheap leverages BitPay to conduct transactions with bitcoin.
Accounting software
Intuit Labs is an American company specializing in financial software, including Tax preparation and accounting software. Most recently, Intuit’s QuickBooks Online, a program for online invoicing processes, now allows merchants to accept Bitcoin with the New ‘PayByCoin’ Service.
Vacations and other activities pertaining to travel
Several online travel booking platforms exist for users to purchase flights and hotels with bitcoin, such as Travelbit.
Travala is another platform that offers 2,200,000+ options for accommodations in over 90,124 destinations. Bookings can be made with various cryptocurrencies, including BTC, XRP, AVA, BCH, and USDT. But, the best part is that this platform also has prices that are believed to be 40% cheaper than any of the mainstream travel booking platforms.
For affordable flights, CheapAir is another popular American online travel agency that accepts bitcoin.
Shopify
Shopify is a platform that specializes in helping small business owners launch their own e-commerce stores. Shopify has allowed those that use its platform to make purchases with bitcoin through integrations with Coinbase, BitPay, GoCoin, or CoinPayments.net. Therefore, consumers can browse through and make purchase selections from a collection of products varying from healthy snacks, denim or organic fragrances, to name a few.
Virtual Private Networks (VPNs)
ExpressVPN is a platform that provides a subscription-based service for the purchase of VPNs on any device, including phones, tablets, and computers from any location. A subscription can be purchased with traditional payment options like PayPal, credit, debit, or bitcoin through integration with BitPay.
Furniture and household items
Overstock.com is a popular American retailer known for the sales of rugs, curtains, bedding, mattresses, lighting, pots and pans, and a variety of other household products. To make transactions possible, Overstock partnered with the platform Coinbase. Users can now select the option “Pay with Bitcoin” in the Payment Information section of the website’s checkout page. From there, users can log in to their Coinbase account or provide their address before hitting “Submit Now.”
Consumer electronics
Newegg, a popular online retailer, allows users to purchase hardware, software, gaming devices, and other consumer electronics with bitcoin. To conduct these transactions, users follow the standard steps in their transaction, including selecting their shipping options. Afterward, users can choose “bitcoin” as their desired payment method. Next, users can review the orders and agree to the terms and conditions listed on the website. Finally, users will be prompted to select their preferred bitcoin payment option.
To execute the bitcoin transaction, users can choose from:
- A digital wallet
- Smartphone wallet with a QR code
- Online wallet using the “View Address” display link and inputting the amount of bitcoin owed
Once the order has been completed, invoices will be indicated as “paid,” and a confirmation will be sent.
Making a purchase with bitcoin
The most important thing that users must remember before paying with bitcoin is to verify the reputation of the website they are using. Sticking with big names can effectively limit their exposure to fraud; however, it may limit the available options. Alternatively, users who find a seller that is offering a unique product or service may decide to engage in the transaction using a third-party escrow service for added security.