Cryptocurrency is not the most stable of investments. For traditional-minded investors, buying stocks or real estate might still be the best way to multiply one’s wealth.
However, Bitcoin and other forms of cryptocurrency are gaining quite a lot of popularity among modern investors these days. They might be very speculative instruments, but the fact remains that most of them are meant to be payment systems.
Bitcoin is still the first and best example of the lot, as several online merchants are not accepting Bitcoin as payment for their goods and services. For retail investors especially, Bitcoin is usually viewed as an asset that has certain risks, but could have massive growth in the near future.
The Original Purpose of Bitcoin
Originally, Bitcoin was designed to be a peer-to-peer cash system that worked electronically. It was supposed to be a sort of decentralized method of payment, meaning that the issue of high or fluctuating exchange rates was taken out of the equation.
What’s more, holders of Bitcoin could manage finances and go through with purchases without being controlled or monitored by government authorities and their fiat currencies.
Of course, Bitcoin still doesn’t have as much penetration or influence as fiat currencies for everyday purchases. It might be some time before cryptocurrency transactions of any kind become mainstream.
On the other hand, there are many places where one can purchase items or services and pay with Bitcoin. If you’re ready to utilize your Bitcoin in the intended manner, here are some of the best ways to do so:
10 Things You Can Buy with Bitcoin Today
1. Your Dream Car (As Long As It’s Not a Tesla)
Bitcoin holders sometimes get a bit of flak from their peers, especially when they’re hopeful about making a fortune in that way. They might get asked when they’re buying a Lamborghini supercar or some other luxury item.
Well, it is technically possible to get a Lambo or any other type of supercar provided you have enough Bitcoin on hand. There are now quite a few car dealerships that have Bitcoin-friendly transaction methods. Just a couple of examples include AutoCoinCars and BitCars.
If you go to the right dealership, you can get almost any luxury car brand. They have Bugattis, Mclaren, Lamborghini, Koenigsegg, and several other options. There will be payment options in Bitcoin as well as a host of other cryptocurrencies.
Many other types of vehicles are also available for purchase with Bitcoin; again, provided you have enough of it. There are classic cars, motorhomes, and off-road UTVs as well. If someone’s tastes or needs are more practical, they can utilize their Bitcoin to that end as well.
However, keep in mind that many dealerships accepting Bitcoin only have second hand vehicles for such transactions. For now, most car manufacturers are not open to letting customers buy brand new automobiles using Bitcoin.
Karma Automotives might be one of the few exceptions, as is BMW. Some years ago, Tesla was one of the major companies that accepted Bitcoin. However, its owner Elon Musk has recently denounced his previous acceptance of Bitcoin at all the Tesla dealerships.
Why does Tesla no longer accept Bitcoin?
Tesla’s breakaway form Bitcoin might seem like a very surprising decision, especially when the two seemed to go hand in hand at one point. However, the Bitcoin option on Tesla’s website was discontinued after just two months of going live.
The reason behind this change was Tesla’s and Musk’s concern about the environment. In order to get Bitcoin, there needs to be a high level of energy consumption for the mining as well as the encryption. Since Tesla is an environmentally friendly manufacturer with an image to maintain, the large carbon footprint of Bitcoin doesn’t mesh well with them.
In short, Musk isn’t really adverse to the idea of accepting Bitcoin as payment. He does feel that there have to be some drastic environmental changes before such payments can become beneficial. At the very least, he feels that the trade-off is not worth it yet.
2. Real Estate for Future Investment
One of the most logical options for utilizing Bitcoin is to buy real estate with it. If you have enough saved up, real estate could be the best investment to take your money further. It’s a tangible, viable asset that is likely to grow in value and is now available in exchange for Bitcoin.
Back in 2017, a whole house in the United Kingdom was the first one to be sold solely in exchange for Bitcoin. The value of the house was $480,000 at the time.
Today, it’s still a bit unusual to buy real estate using Bitcoin. However, the task isn’t as overwhelming as it was a few years ago.
This progress is due to the efforts and emergence of several realtors who specialize in currency transactions. Bithome is a Swiss consulting firm that lists several properties across Asia, America, and Europe. These properties are for sale with an option for Bitcoin payment.
Investors who want to get real estate with their Bitcoin can also go for more region-specific platforms. One of these is the OpenHouzz platform by Caliber & Partners. This features a couple of hundred properties across Spain that can be bought with Bitcoin. There are even some mansions on the listing worth several million dollars. For those on a budget, some double-wide mobile homes for sale might be a more suitable option.
Mercado Libre, an online marketplace based in Argentina, has also joined the real estate business. They have announced the decision to enable real estate purchases with Bitcoin through a section of their website that is dedicated to cryptocurrency transactions.
Buying REITs with Bitcoin
If someone wants to invest in real estate but can’t afford a property even with regular money, REITs are one good alternative. They operate in much the same way as company stocks, but with a property as the base. Now, the same practice is possible for Bitcoin holders who may not have enough to buy a whole property on their own.
If the cryptocurrency REITs are developed properly, they can allow users to get real estate exposure through the purchase of digitized shares.
Buying office space with Bitcoin
Luckily, real estate in the form of office space might also now be available in exchange for Bitcoin. A real estate company by the name of WeWork now takes Bitcoin payment through BitPay for its cooking spaces. Coinbase was one of the first customers to take up such an option.
3. A New Wardrobe
If you have Bitcoin on hand, it might be possible to use it for getting a dream designer outfit or even some casual options for updating your wardrobe. There are a lot of clothing outlets that now let you pay in Bitcoin as well as other forms of cryptocurrency.
MtSocks, for instance, have many garish and funky socks on sale, including one with an illustrated history of the famous Bitcoin logo.
However, there are many other options that are fashionable, professional, or both. Some high-end outlets have also opened their doors to Bitcoin payments, with just one example being Anierir. This is a platform that offers a whole collection of made-to-measure clothes of Italian make. You can get suits, trousers, shorts, and a whole lot more here in exchange for your Bitcoin.
4. A Fulfilling Meal
Since Bitcoin was meant for everyday transactions, utilizing it for food and drink is only logical. Many fast food chains and restaurants are now allowing payments in Bitcoin. This trend just might catch on if Bitcoin is reserved for its original purpose.
In fact, the exchange rate between Bitcoin and pizza has seen some very dramatic changes since 2010. This was the year when a man named Laszlo Hanyecz paid around 10,000 Bitcoin in exchange for a delivery of two pizzas. It’s now noted in history as the first-ever commercial transaction in Bitcoin. It’s also a cautionary tale, since those 10,000 BTC are now worth hundreds of millions of dollars.
Today, we have Pizza Hut still keeping the spirit of pizza and Bitcoin transactions alive. At least, that’s the case in Venezuela. In November 2020, the chain announced its partnership with CryptoBuyer and subsequent acceptance of Bitcoin payments. In addition to this, it also accepts Ethereum as well as a few more cryptocurrencies.
Other than this, we have several other restaurant chains and ordering services now accepting Bitcoin. Lieferando, a takeaway giant chain in Germany, is also known to take Bitcoin. Lightning Network will accept Bitcoin and bring Domino’s pizza over to its customers in exchange.
Apps aren’t far behind. In France, there’s a food delivery app named ‘Just Eat’; it’s now allowing customers to use Bitcoin for their food deliveries. The choices are vast here, as the app offers food from over 15 thousand restaurants.
5. A VPN to Protect Your Identity Online
When you buy something using Bitcoin, your identity is hidden. Since the premise of Bitcoin was about protecting one’s identity online, it’s only logical that you can also buy a VPN with this currency.
Several virtual private networks were among the first services to begin accepting Bitcoin payments. If you’re looking for a VPN for any reason (for instance, watching a TV show that’s not available in your region, protecting your personal data, or security while working remotely), it should be possible to get one with your Bitcoin.
Just a few examples of such VPN services include Cyberghost, ExpressVPN, ProtonVPN, NordVPN, and SurfShark. These are all respectable VPN providers, so you don’t have to worry about getting scammed.
A word of warning here, though: buying a VPN using Bitcoin also means that you won’t remain absolutely anonymous. Government and crypt forensics firms can track your payments if they really want to.
6. Web-Based Services
VPNs are a web-based service, but there are several others out there too. Website building, content writing, content creation, and so many other essential services are now available with the payment of digital currency like Bitcoin. While not every web designation will accept such a payment, there’s an increasing number who would do so quite happily.
Cloud storage is one such service; if you go for the company MEGA, you can make your payment in Bitcoin and some other cryptocurrencies if that’s convenient. 4chan, the notorious message board, offers a Pass membership that you can purchase using cryptocurrencies, including Bitcoin.
7. A Well-Deserved Vacation
If you’ve made the effort to earn enough Bitcoin, you probably deserve that dream vacation. While some people might still be hesitating about getting on flights or cruises, those holiday destinations are just what you need to unwind and relax. Pampering yourself or giving your loved ones a treat could be the greatest reward you get for earning or mining Bitcoin.
There are a lot of platforms available that allow for a holiday booking with Bitcoin as the medium of transaction. Two examples are Travala and CheapAir. Travala is linked with sites such as Expedia and Booking.com. This means that users can utilize the service to book hotels across no less than 2 million destinations all over the world.
There are also flights available for more than 600 airlines, with cryptocurrencies and especially Bitcoin becoming accepted a bit more easily than before.
Keep in mind that using cryptocurrency to book your flights and accommodation might be a bit more expensive than using a credit card. However, we do get a best-price guarantee with Travala. This guarantee means that the platform will either match a lower competitor’s price or offer an even lower price.
You might also be able to find hotels that accept Bitcoin for bookings. A Nashville establishment called The Bobby Hotel is one of them, allowing guests to pay with BitPay. The hotel itself is quite nice, with a city theme in the rooms, a lounge on the rooftop, and other decent amenities.
8. A Safety Net in Gold
While investment assets may go in and out of style, gold is one item that remains a safe haven for the most part. It has a relatively stable value, especially when you compare it to other assets like stocks, real estate, and Bitcoin itself.
Bitcoin is sometimes dubbed ‘digital gold’, so why not convert it to the real thing when you have the chance? Just take a look at the history of gold investment to get an idea of how safe an option it is. With a few gold bars, coins, or even jewelry on hand, you have a liquid capital on hand at all times. Meanwhile, the value of gold is usually rising, which means your money is increasing as well.
Go to Bitgild or the European Mint to spend Bitcoin on real gold. If you want to diversify your investment assets even further, opt for other precious metals as well. Platinum and silver are both good options.
The European Mint will let you make a payment with BitPay, though there is a one percent handling fee involved. On the other hand, Bitgild will let you pay using a Bitcoin wallet. At times, it might even be possible to pay them directly in Bitcoin.
Another factor to keep in mind is that the value of gold does plummet at times. However, it’s usually been known to get back on its feet and rise even higher than before. You can use this as your rainy day investment or as a safe way to put aside something for retirement. Such a purchase is especially good idea when a person doesn’t want their money to be in the hands of banks or the government.
9. The First Bitcoin Watch
With a smartphone in everyone’s hand, most people might think that they don’t really need a separate timepiece to worry about. However, having a luxury watch on your wrist is both a fashion statement and a status symbol. It also helps to finish off a formal ensemble and generally make one feel more professional. Then again, wearing a nice watch just might be someone’s personal preference.
If you’ve finally decided to get a luxury timepiece or a classic watch for everyday wear, it might be possible to get one using your Bitcoin. Since watches can be timeless pieces, this is also a sort of investment you make in yourself.
There are several options available now, but the more exorbitant of the lot seems to be the Franck Muller Steampunk Limited Edition Encrypto Watch. At present, it costs a whopping $17,380. There are only 250 pieces of this watch in existence, which might make it extremely valuable for collectors and timepiece enthusiasts. You get a rose gold dial here, along with a steel case to keep the watch in when you’re not wearing it.
Other features of this watch include a genesis block QR code address, a unique address that you can get etched along the dial using a sealed USB. It also contains a private key to the address provided.
For those who are looking for something a little less expensive but still in the luxury range, BitDials can probably provide what you need. BitDials is an online retailer of luxury watches, with offerings including Cartier, Birteling, and Tag Heuer. Many options are under $3,000, which seems quite reasonable when compared to the Franck Muller Encrypto.
10. Valuable Artwork
Yet another excellent investment idea is buying artwork in the hopes that it will increase in value. What’s really amazing is that even the bigwigs in the artistic circle are now getting on board with making Bitcoin transactions a foreseeable reality.
In May 2021, Sotheby’s (well-known auction house) sold some artwork by the artist Banksy. They provided the buyer an option to pay in Ethereum or Bitcoin, which are both major examples of cryptocurrencies.
Buying valuable artwork is certainly a safe investment step. But what if you don’t have the budget for such purchases? If you have Bitcoin, you can still get a work of art with your Bitcoin.
One platform to visit is Singulart, which is an art store operating online. This store offers worldwide shopping for free, offers returns if the customer isn’t completely satisfied, and also accepts Bitcoin payments. With Singulart, there are several emerging as well as acclaimed artists offering their drawings, painting, sculptures, and other forms of artwork for sale in their online gallery.
You can hop on over to the platform, choose a piece that seems likely to go up in value, and make an offer. This way, you get a work of art that could be very valuable in the future and also support budding talent that might really need the money and encouragement. At the same time, you have a beautiful piece according to your taste that can liven up a corner or room of your home.
A lot of the art on this platform might be quite pricey, but there are some very impressive options for as low as $310. The system of Singulart runs on an Etsy-like structure, with the potential buyer being able to make an offer when they want something.
If someone wants to purchase art with the intention of making an investment, the platform Maecenas might be a better fit. This is an online site where some great works of art are sold in tokens and fractions. The tokens mean that one gets fractional ownership of the artwork, much like REITs mean that you have part ownership of a whole property. The investment remains fairly liquid, as one can trade these tokens almost anytime they want.
The list above might make it seem like you can purchase virtually anything with Bitcoin. In some years, this might actually be true. For now, we can make donations, pay bills, purchase goods from online retailers, and do so much more to spend our cryptocurrency.
Investors might want to hold onto some of their Bitcoin just in case the value goes up rapidly in the future. This speculation may or may not be wise, but the pandemic has certainly taught us that it’s good to prepare for everything.
For now, the best way forward might be to include Bitcoin in your investment portfolio for the sake of diversifying assets. If their budget allows, investors can spend your Bitcoin on another form of solid investment, such as real estate or gold. They will have a hedge against inflation with Bitcoin and can count on their money growing with at least a few of the other assets.