Where Can You Use Bitcoin?

For the last 15 years, Bitcoin has mostly been this theoretical thing. Sure, it has value, but it couldn’t really be used for anything. Though we are far from being able to use Bitcoin at the grocery store, steps have been made to make it something more tangible.

People who track Bitcoin price can now put their investments to actual use. The question is, “where can I use my Bitcoin?” While it isn’t universally accepted as a form of payment, these are a few places where your Bitcoin is definitely accepted.

E-Commerce

If you think that you can only use your Bitcoin at niche vendors, think again. Even a few big names in the industry can set a good pace for the acceptance of crypto. With names like Microsoft, Newegg, and AT&T accepting cryptocurrency as a form of payment, it means potentially big things down the road.

That said, even a few of those names have exceptions for using Bitcoin. For starters, Microsoft only accepts it through its online store but not part of the XBOX gaming platform. So, while the access is definitely there, it can be a little limited in some ways.

Overstock is a major name in the retail world and started taking Bitcoin way back in 2014. They have just about everything you could think of, kind of like Amazon, but not as big. If you have ever bought something for fairly cheap, odds are you used Rakuten or Shopify. Both of them have been accepting Bitcoin for years on their platforms.

Insurance

For a pretty conservative industry on the whole, you would think that insurance would be the last one to accept cryptocurrencies, but here we are. Granted, you still can’t buy life insurance using Bitcoin, but insurance providers are starting to come around.

You can pay your premiums using Bitcoin for things like car insurance, depending on the provider. AXA, a Swiss insurer, has started allowing Bitcoin as a form of payment on all of its insurance types, save life insurance (because of regulatory issues). Another big insurance company, Metromile, has a pay-per-mile insurance policy that also accepts Bitcoin as a form of payment.

Media Subscription Services

Much like the insurance industry, this is slowly coming to be. Outlets for cryptocurrency tend to be much more consistent about accepting Bitcoin as a subscription payment, but major names within the media world are starting to come around as well.

Let’s start with the Chicago Sun-Times. It has been accepting Bitcoin since 2014, making it one of the first of any kind to accept crypto for payments. Time Inc. has been allowing crypto payments for a few years now as well. They also happened to form a partnership with Crypto.com in 2019, so that didn’t hurt things on that front.

Jewelry

Some high-end and luxury goods makers have started taking Bitcoin as an accepted form of payment. BitDials, an online luxury jewelry and watch retailer, has started accepted Bitcoin (and other forms of cryptocurrency) for high-end brands like Patek Philippe, Rolex, and more.

To show how involved the jewelry and watch industry is, luxury watchmaker Franck Muller made a watch, completely encrusted in diamonds and gold, that had a QR code from the Bitcoin genesis block. Some jewelry stores of various sizes have started to partner up with payment processors in order to make it easier to use crypto to make purchases.

While it isn’t universally accepted, things are moving in the right direction. It might take a long time, but Bitcoin is started to be more widely accepted. Who knows how many places will take crypto five years from now?