Despite the fact that Bitcoin is still viewed as a valuable asset to possess rather than spend on various things, many online shops have gone to considerable measures to integrate payment methods for the cryptocurrency.
Bitcoin may now be used to purchase almost everything, from VPN services to home products, pizza, and plane tickets.
This article is a collection of tips to help you spend your cryptocurrency to buy products and services online.
First, let’s know about the companies that accept cryptocurrency as a method of payment.
The Best Online Stores That Accept Bitcoin as a Payment Option
Microsoft
Since 2014, Microsoft has been one of the first software companies to accept Bitcoin as a payment method for several of its most popular products. You may buy anything from Windows 10 licenses to games, movies, and apps in the Windows and Xbox stores by adding Bitcoins to your Microsoft account. Because of the inherent volatility of Bitcoins, Microsoft temporarily ceased taking them as a means of payment, but has since begun to accept them again.
Overstock
Back in 2014, Overstock was one of the first major online merchants to accept Bitcoin as payment for its products. Customers can use Bitcoins to pay for a variety of products, ranging from gadgets like TV sets and laptops or PCs to home-related items like pillows, at the online store.
Planet Express
Planet Express is a mail and package forwarding service based in the United States that is highly handy for people who live outside the country. This is especially important for businesses and e-commerce sites with foreign customers and the need to send packages internationally.
eGifter
eGifter is an online site that allows you to buy gift cards from places that don’t accept Bitcoin directly, such as Amazon, JCPenny, Sephora, Home Depot, Kohl’s, and many others, using your hard-earned Bitcoins. eGifter is a Coinbase partner, just as Expedia and Overstock.
Newegg
Newegg is one of the largest online retailers, and it supports Bitcoin as a normal payment method through its official payment processing partner, BitPay.
Gyft
Gyft is an online gift card service that allows you to shop from a large number of online stores (more than 200, to be exact). Southwest Airlines, Whole Foods, CVS Pharmacy, Hotels.com, and Target are among the retailers that offer cards through the program. You must have a Coinbase account to purchase cards from Gyft.
Learn How to Pay with Bitcoin Or Other Cryptocurrencies In 3 Easy Steps
1. Select a Bitcoin Wallet
Because most businesses do not accept Bitcoin directly, you’ll need a “digital” or “Bitcoin” wallet to keep track of your funds. These Bitcoin wallets, which come in the form of mobile apps, desktop or web software, and hardware (a USB device), let you make transactions using both an alphanumeric code and a QR code.
You must first choose a wallet to hold your Bitcoin before you can use it to make purchases. This will be your Bitcoin bank account, which you may use to store, send, and receive funds. There are a plethora of free cryptocurrency wallets available on the internet, and they all operate on both desktop and mobile platforms. Simply create an account with your personal information, and you’re good to go.
2. Purchase Bitcoin
After you’ve set up your wallet, it’s time to acquire some bitcoins. This can be done through one of the various bitcoin exchange services available. Do your homework and find out what the greatest bitcoin price is right now.
Bitcoins can be purchased with a credit card or a bank account. Simply enter your bitcoin wallet address to the exchange operator, and the transaction will be completed in minutes.
Visit this site to start trading bitcoin at a reputable exchange operator.
3. Begin using Bitcoin to Make Payments
If an online merchant accepts Bitcoin payments, all you have to do is copy their Bitcoin address and enter it into a section on your wallet. Click ‘send’ after entering the correct quantity of bitcoins in the payment box. Just make sure to key in the exact amount that appears in the payment box. The transaction should take only a few seconds to complete.
Tips For Using Cryptocurrencies For Online Shopping
Know where your bitcoins are going
- Examine the seller’s track record. Make sure you know where the seller is and how to get in touch with them if there are any issues.
- Determine whether the payment will be made directly to the vendor or via a payment processor, which may provide you with additional security.
- Because the only option to seek a refund if you purchase bitcoins is through the vendor or payment processor, it’s critical to find companies you can trust.
Understand the policies on refunds and returns
- How will the seller make things right if you receive anything that is damaged? Is your return going to be in virtual money, US dollars, or store credit?
- What is the amount of your refund? Because the value of a bitcoin fluctuates frequently, the vendor should inform you of the exchange rate that will be used for refunds before you buy.
- What method will be used to process your refund? The merchant typically credits the account to reimburse a credit card purchase. However, because people’s virtual wallet accounts might be changed, a seller may not always be able to transfer a bitcoin back to the wallet from whence it originated.
Find out how your personal information is safeguarded
Transactions in Bitcoin and other virtual currencies are recorded on a public ledger, which normally includes the amount as well as the sender and recipient’s wallet addresses. Find out what other information might be collected and shared by reading the seller’s privacy policy. Check the privacy policies of any payment processors used by the seller.
Final Thoughts
New offerings will continue to emerge as a result of technological advancements. Traditional payment firms that incorporate bitcoin technology and offer equivalent services under their decades-old, well-known brand names may achieve a win-win situation.
