People, who are thinking about mining or going to buy cryptocurrency, are probably interested in the question “Where is bitcoin accepted?” A virtual asset is used not only for investments and profit in the long term, but as a viable payment tool along with the fiat money. For example, for crypto coins you can buy household appliances or an elegant dress, order a pizza or a novelty of the book market.
Shopping for bitcoins: why sellers are not in a hurry to accept crypto?
Not so long ago the very idea of bitcoin seemed ridiculous, but a year after the first link of the BTC blockchain appeared, Laszlo Hanyecz bought two pizzas for a huge amount at the present time of 10,000 BTC. Nowadays, more and more online stores and companies are ready to accept crypto currency as payment for their goods or services. Now it is possible to go to a cafe, having only a cryptocurrency wallet.
And now let’s speak about the main thing. For neither sellers, nor buyers it is not profitable enough to work with the cryptocurrency at the moment. The reason for this is the high volatility of the virtual coin, which means permanent changes in the exchange rate, as well as a lack of accounting skills. There is never single point of view on the rate, which is beneficial for all participants. Acceptance bitcoin as a way to attract customers with a subsequent loss in the fiat money can be afforded by not every businessman.
Hardware wallets, smartphones and other gadgets that support transactions are not always easy to use. For example, the battery charge may be exhausted, or the Wi-Fi signal will be weak. Moreover, the Internet is far from anywhere in the world. In many shops in Europe you can see special devices that convert bitcoins into traditional money. Despite the convenience, many experts are afraid that the dominance of such technology will violate the principle of decentralization of the cryptocurrency, because in fact such exchange points act as intermediaries.
Where is bitcoin accepted?
In this chapter we will talk about BTC geography. Can we pay with bitcoins everywhere? Not all states conduct a clear policy in this direction. Some of them watch with interest, others do not care about the novelty at all, and in some places bitcoin, blockchain and even ICO projects are completely banned, for example in China, Vietnam and Bangladesh. To the note: in the last of the listed countries there is a punishment of up to 12 years of imprisonment, so be careful when going there with innovative ideas and start-ups as a maximum, and with a paper bitcoin wallet as a minimum. But Germany, the United States, Switzerland and Japan are BTC-friendly countries.
It is not necessary to blame the state that they restrain the development of the crypto in its limits. First, criminals instantly chose a new system for doing their business, and it is money laundering, trading in banned goods and even people! It is quite natural that exchanges and transactions, especially buying bitcoins using credit cards, must be closely monitored. There is an interesting fact: FBI is one of the largest holders of cryptocurrency. This organization has caught many cybercriminals that dealt with crypto.
How to pay bitcoins in the store
Each owner of the cryptocurrency has a special wallet in one form or another. The most advanced users can boast of devices for cold storage. Most use online wallets, which are suited best for small amounts. Desktop services are much more serious than online resources and mobile applications. In general, the payment algorithm is the same everywhere: you transfer funds to the bitcoin-address of the store, which its employees inform you in advance. After checking the receipt of funds, you will be given a product, a service or, if you are dealing with an online store, the purchase will be sent by mail. That’s all!
Bitcoin accepted websites
Stores that take bitcoins can be easily found with the help of special services and mobile applications that demonstrate a worldwide map of outlets accepting payment for cryptocurrency. The information is constantly updated, and with the help of the map you can find out not only the site, but also the location of the store, a company, a hairdresser, a restaurant, etc. Here is a list of some of them:
- Bitroad sells machinery and electronics in the UK
- Privatoria is an online service that provides VPN access
- Cryptocat offers goods for pets
- Artwall is a Russian shop of paintings and interior items
- Bitpremier sells real estate for bitcoins
So, despite the difficulties and obstacles, more and more retailers that accept bitcoins appear. Most of them do not want benefits, because working with the cryptocurrency is troublesome and not always profitable. Here the enthusiasm and desire to attract the attention of buyers and customers are of greater importance. The main area of bitcoins usage is the investment, not retail.