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Bitcoin, where can I spend?

22 April 2021
- Di
Alessia Petrucci
Tempo di lettura: 2 minuti

BITCOIN CAN SPEND - Bitcoins are the most famous cryptocurrency existing at the moment, but not the only one. In fact, there are many bitcoin competitors in circulation, but what can we do with these cryptocurrencies? In what circumstances can we use them? Are they just a means of investment or do they have a commercial utility? Are they accepted, as a form of payment, only online or even in physical realities? Basically, where is it that we can spend bitcoins?

Bitcoins the cryptocurrency that we can spend on the internet

Bitcoins, the most famous and talked-about cryptocurrency in the world was born to be used, and therefore spent, mainly on the internet. In fact, for years numerous realities in which you can spend your bitcoins online have existed. In some cases websites were created specifically to sell items that can be purchased through the cryptocurrency, such as Spendabit and Spendbitcoin. Others instead are already existing websites that only with the achievement of the importance they have today have allowed the public to purchase using  bitcoins. This is the case of Bestbuy and Amazon sites but also Gyft.com, where you can even buy gift cards.

On the internet, however, not only the websites offering resale of various objects allow you to pay via bitcoin, but also the sites of the food industry. We’re talking about Foodler. But it doesn’t even stop there. In fact, in Switzerland, on the Swiss Pharmacy platform, there is the possibility to buy drugs and pay them with bitcoins.

Bitcoins can be spent also in physical shops

The success of bitcoins, however, was such that even some physical shops began to accept them. The first time bitcoins have been used as a means of payment in a physical business is remembered and celebrated even today. In fact, May 22nd is the "Pizza Day", the day on which Laszlo Hanyecz is celebrated. In 2010 he paid 10 thousand bitcoins for two pizzas. His gesture was intended to demonstrate that this cryptocurrency could be used as any other currency.

To date, the physical realities that accept bitcoins as a form of payment are various, so much so that real Coin Cities are being constructed. These are cities where the official currency is a cryptocurrency. In these cases, workers are remunerated through cryptocurrency with which they can make expenses in any type of operator, from the barber to the grocery.

Not everyone, however, likes bitcoins

"Any direct or indirect use of crypto assets in payment and e-money issuance services will be prohibited."

This is what the Central Bank of the Republic of Turkey has declared regarding cryptocurrency payments. In fact, it was announced that from April 30th in Turkey it will no longer be allowed any type of payment with the crypto system. Not only will suppliers no longer be able to offer fiat on-ramp payment services to cryptocurrency exchanges. Despite this ban, however, Turkish investors will continue to buy bitcoins and other cryptocurrencies and deposit Turkish lyre on cryptocurrency exchanges.

So where can bitcoins be spent in the future?

There are many predictions that are made on bitcoins and all the other cryptocurrencies, but the holes in the field are too fluctuating. If on the one hand there are many enthusiastic subjects to undertake the crypto path, as we have seen there are also others who do not like it. All we have to do is wait and see.

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