Where Bitcoins and other Cryptocurrencies are accepted

The patriarch of digital currencies, Bitcoin is very attractive to investors and cryptotraders. It can, without a doubt, be called the most successful IT startup of our time. The return on investment in digital gold is 6,583.10%. But, BTC is not only a profitable placement of capital, but also a decentralized payment network.

The value of cryptocurrency is directly dependent on its popularity as a unit of account. Virtual money is easy enough to exchange for regular money, but quite a few retailers and service providers are already introducing BTC coins as an alternative means of payment. Thus, people can evaluate for themselves the convenience and prospects of distributed ledger technology. In this review, we will tell you where bitcoins are accepted in Russia and abroad, as well as the advantages of blockchain ecosystem tokens over traditional money.

Who accepts bitcoin payments?

A cryptocurrency transaction cannot be undone, which means that the seller can be sure that he will receive his money in full. In principle, it is possible not to wait for six confirmations, if at least two miners recognized the transaction as valid, then the payment passed. Mobile applications allow you to pay with cryptocurrencies not only online, but also at the cash desks of retail outlets.

Where do they accept bitcoin? Providers of goods and services working with cryptocurrency can be roughly divided into 3 categories.

Web marketplaces. These are usually commodity aggregators focused on the blockchain industry. But, you can also find highly specialized stores on the Internet that accept bitcoin, such as sites selling PC components, skin care products, souvenirs, etc. Bitcoin stores can also accept other top coins, most commonly Ripple or Ethereum, as well as fiat money.
Services for Internet services. Bitcoin cryptocurrency payment is used quite often in this area.

People purchase:

  • Electronic movie tickets.
  • Software.
  • Computer games.
  • Also, paying for subscriptions to other services, freelance services and betting at casinos.

Offline services. You will ask how to find the golden mean between non-payment and confidence in the quality of goods purchased online. Of course, at this stage of the crypto industry’s development, it’s not easy. Bitcoin’s high volatility prevents it from being used to pay in hypermarkets. The staff would have sold themselves off their feet, changing the price labels. But, in a small coffee shop or beauty salon, this problem is easily solved. Places that accept bitcoin usually have its logo on their signage.

Unfortunately, the legal status of digital money in many countries has yet to be determined. So companies that accept bitcoin do so semi-legally. The customer who paid with virtual money can not give a cashier’s check and report this transaction to the fiscal services. Nevertheless, every year the number of stores that accept bitcoin increases. In some countries, bitcoin can be used to buy groceries and pay for a ride on public transportation.