20 Best and Realistic Ways to Use Bitcoin in 2020: A Definitive List
It’s 2020, Donald Trump is the president of the United States, and Bitcoin is still making headlines. It’s not quite the media pinnacle it was in 2017 when the local news taught your grandparents how to purchase Bitcoin. Although, it’s here to stay, more useful than ever, and can purchase anything.
- Ecommerce items
- P2P payments
To start, Bitcoin can indirectly purchase anything in the world because it can easily be converted into most major fiat currencies (dollars). This can easily be done by using a Bitcoin ATM (BTM), a cryptocurrency exchange, or just selling it in a P2P manner to anyone looking to purchase some Bitcoin!
Bitcoin is also being used more now than ever. Take a look at the volume compared from 2017 compared to 2020.
There are lots of direct ways to Use Bitcoin as well. Whether it’s through purchasing cars, e-commerce shopping, services, or trading 2020 has a lot to offer when it comes to Bitcoin utility.
Listed below are some unique and direct ways to use Bitcoin in the 2020s emerging crypto-enabled economy:
Cars — Very cool cars
There is a wide array of cars being sold online for Bitcoin. Many of these cars are supercars or high-end luxury vehicles. Now you can drive your Lamborghini to the moon. Because of Bitcoin! If you purchased your Bitcoin back in 2010 that means you could pick up a Bugatti for the bargain price of little under $45.
E-commerce — There are many reputable e-commerce websites that are implementing Bitcoin as a viable payment option as well. To name a few:
- Microsoft — The tech giant Microsoft accepts payments in Bitcoin for games, movies, and apps in the Windows and Xbox stores.
- Overstock — A popular American retail company with revenues over 1.5 BIllion has been accepting payments in Bitcoin since January 9th, 2014. they are a publicly-traded company.
- Newegg — A computer parts retailer based out of California Accepts Bitcoin Payments. They see 2.7 Billion in yearly revenues and are accepting Bitcoin globally.
- Shopify — An exceedingly popular publicly-traded e-commerce platform allows it’s clients to accept cryptocurrency payments. They have annual revenues of over 1 Billion.
- Etsy — A P2P marketplace for selling vintage and other handmade goods. They allow their clients to accept payments in Bitcoin. Etsy is a publicly-traded company with 600 Million in annual revenue.
- Alza — largest online retailer in Czech-Republic
Remittances — Or sending money across international borders
- A remittance payment is commonly known as a person sending money from one country to another. Remittance payments are often subjected to high fees and time delays. Bitcoin can be sent anywhere in the world for an extremely low fee almost instantly. The global remittance market is estimated to be 715 billion. Bitcoin will transform this industry throughout the 2020s by providing less expensive and faster money transfer solutions.
P2P Payments — Sending people cryptocurrency.
- Bitcoin is actually designed to act as a “Peer to Peer Electronic Cash System” (whitepaper). Using Bitcoin for handling payments, settling debts, and other P2P applications is another major use case.
- There have also been major improvements made to a 3rd party chain called the lightning network that will make sending Bitcoin anyone in the world almost free and instant. This will make using Bitcoin as a P2P micropayment ($20) lane more feasible than ever before.
Finding places to spend BTC
- Coinmap is a map that will show you all the venues that sell goods for Bitcoin and other cryptocurrencies. Currently, there are 16,000 venues globally that will accept BTC as a payment method
- Spend a Bit is a company that allows users to search for different products that can all be purchased with Bitcoin. They allow access to over 3 million goods.
- Dish Network — Since 2014 Dishnetwork has accepted payments in Bitcoin, and in 2018 the cable network added Bitcoin Cash as well.
- Namecheap a domain registrar (they sell domain names) is now the first domain registrar to offer Bitcoin as an accepted payment method.
- Bloomberg the news company has finally warmed up to Bitcoin in 2019 as it now accepts payments in Bitcoin.
- Virgin Galactic Sir Richard Branson’s space flight company within the Virgin Group now allows passengers to pay for flights using Bitcoin.
Gambling — A popular trend in the Bitcoin community that has arisen out of the woodworks is Bitcoin Gambling! Place your bets or HODL!
Exchanging / Trading
- Trading — just like the stock market you can purchase different cryptocurrencies in hopes that their value increases. Following this, you can sell it back to the exchange for a profit, or a loss.
Without a doubt, every way to use Bitcoin, Direct and Indirect, is a major win. Looking forward to 2025 one can only imagine where Bitcoin can be spent!