Bitcoin is a digital or virtual currency first created by an anonymous person who uses the alias Satoshi Nakamoto. There is no middleman, no government control, no banks, and you can buy almost anything with it – from travel (space travel even) to clothes on Overstock.com.
It might be surprising, but bitcoin is mostly being used by people between 25 to 45 years of age, with the amount they have going up as their age goes up. People use bitcoin to buy all sorts of good and services, including illegal transactions for drugs, sex, and more. Since the transactions are anonymous and users don’t always identify themselves, that means it’s hard to know what people are buying.
Having said that, it must be in demand since hundreds of mainstream businesses are now accepting bitcoin as a form of payment. Let’s look at some of the businesses taking bitcoin.
* Overstock.com – They sell all sorts of things, from clothing to furniture. They have low shipping costs, and everything is cheaper than regular stores even though most items are name brands.
* Expedia.com – This is a travel site. You can reserve a hotel room using this service and someday you may be able to pay for all of your travel this way.
* eGifter.com – Buy gifts for people.
* Newegg.com – Buy computer and technology products.
* Shopify Stores – Some vendors that use Shopify, a shopping cart system, will enable their system to accept bitcoin.
* MyDISH.com – Get your DISH network with bitcoin.
* Roadwaymoving.com – This moving company likes taking bitcoin because they avoid some taxes this way.
* PizzaForCoins.com – Using this service is a little like using any of the delivery services. If they have a relationship with the place you want to get your pizza from, you can pay with bitcoin.
* Microsoft.com – That’s right, Microsoft takes bitcoin.
* CheapAir.com – Buy airplane tickets via CheapAir with bitcoin.
* Some Etsy Vendors – Just like the Shopify system, some Etsy sellers choose to take bitcoin for their products. Almost 100 do right now.
* Mint.com – This is bookkeeping software that will take bitcoins for payment.
* Bloomberg.com – This online magazine takes bitcoin for subscription payments.
* The U.S. Libertarian Party – Want to donate to the United States Libertarian Party? They take bitcoin.
* Paidbycoins.com – This service allows you to pay for a lot of things with bitcoin as a middleman.
* And Many More – Every day, someone else decides to take bitcoin. If you want to use bitcoins, you should find a way to start taking it too. The more ways it can be used, the more valuable it becomes.
This gives you an idea of where you can use bitcoins. Of course, you can always take bitcoins yourself and become a bitcoin vendor – whether you’re selling stuff from your home or you have a business selling physical products or services. It’s a great way to give people another way to pay. Plus, you can avoid sales taxes when you take bitcoin, although that is a seriously gray area that you should talk to your accountant about.