Bitcoin is by far the most popular and biggest cryptocurrency by market share. Since they have become so well-known, many large and small companies are accepting Bitcoins as a form of payment.
If you have Bitcoins to spend and you are wondering where to start, here´s a guide discussing the basics you need to know to get your favorite items from online retailers worldwide.
What Websites Accept Bitcoin?
Microsoft added Bitcoin as a payment option for a variety of digital content across its online platforms in December 2014. According to the company’s payments information page, US-based customers can now use Bitcoin to add money to their accounts, which can then be used to purchase content like apps, games, and videos from its Windows, Windows Phone, and Xbox platforms.
Dell announced in July 2015 that it is accepting Bitcoin through a partnership with Coinbase. As an introductory offer, people buying with bitcoin will get a price reduction of 10% on high-end Alienware PCs. With annual revenue approaching $57bn, Dell is roughly four times the size of DISH Network – the previous largest business to accept Bitcoin.
Overstock became the first major retailer to accept Bitcoin when it made the announcement back in January 2014. The firm offers everything from furniture to jewelry to electronics. Prices are in dollars but there is an option to pay in BTC on the checkout page. Initially a US-only offering, the firm opened up Bitcoin purchases to over 100 countries in September.
Newegg, also a retail giant, is a Los Angeles-based company that recorded $2.8bn in annual revenue in 2013. It specializes in computer hardware and software, but also sells a variety of appliances and goods.
CheapAir.com, the California-based online travel booking website, started taking Bitcoin in November 2013 and announced in July that it has completed more than $1.5m in Bitcoin sales on flights, around 200,000 hotels, and Amtrak railway bookings via its platform.
Purse.io is a peer-to-peer marketplace that matches individuals wanting to buy items on Amazon at a discount with others wanting to buy bitcoin with a credit card or via PayPal. The service claims potential discounts of up to 20% for bitcoin shoppers.
If you want to explore even more options you can check out this list that Ebay.com put together of more than 100 companies that accept Bitcoin as payment.
Are There Disadvantages to Using Bitcoin for Online Shopping?
Some online stores may not accept Bitcoins as a form of payment. If your favorite online or offline retailer does not accept cryptocurrencies as payment, you have the option of getting a Bitcoin-funded credit or debit card or even a gift card for the store.
If you are interested in purchasing gift cards for use at your favorite retailers, you can buy them using cryptocurrencies at sites like eGifter.com or Gyft.com or YestoBitcoins.com, that let you convert your tokens for Amazon gift cards or gift cards from many of the major retailers around the world. Some of these sites charge you a small percentage for the exchange.
The use of cryptocurrencies is on the rise as it has many benefits, such as security, speed, minimal transaction fees, easy storage and management, and relevance in the digital era. It is evident that we won’t have to wait very long to see cryptocurrencies as a globally-accepted means of payment.