Baran Giresunluoglu, professional investor and stock trader, shares his clues to Bitcoin shopping, which he thinks could be even closer than we think.
Bitcoin adoption is around the corner according to Circuit Capital, a hedge fund based in San Francisco and Singapore. Bitcoin may be an investment, but it’s also a global currency and shopping with bitcoin may be closer to you than you think. Circuit partner Eugene Ng commented:
“We are starting to see talent moving into this space and institutional infrastructure developing.
I am excited for 2019 because the foundations for a marketplace will be laid. The build out of this infrastructure will grow alongside clarity in regulations and regulated investment product offerings that will bring massive inflows of capital.”
People are so caught up on the price movements of bitcoin and they forget that it’s actually a form of currency. Bitcoin was originally designed to help you pay for things without the banks getting involved. Whether you’re a bitcoin miner or investor, there are a variety of places that accept it as a form of payment. As of now many of them are online, but you may be surprised to find a local shop accepting bitcoin shop near you depending on where you live.
Places that Accept Bitcoin
Overstock started accepting bitcoin on their website where they sell general household items. Overstock (NASDAQ: OSTK) is a public company in the online retail space, their stock trades on the NASDAQ Exchange and the company has a current market valuation of 580 million.
Etsy is a public marketplace where you can buy or sell unique and vintage goods. They sell anything from accessories, art, collectibles, clothing, and shoes. All of the items in the store can’t be purchased with bitcoin as Etsy lets their merchants accept bitcoin as an option and it’s up to the merchant whether they choose to accept the cryptocurrency. Currently, Etsy has over 90 sellers accepting bitcoin and that number is growing.
Bitplaza is a mobile shopping app that accepts bitcoin for general consumer goods such as electronics, cosmetics, toys to even groceries. The app has a wide range of products to choose from by popular and leading brands. Bitplaza Inc is based in the United States and the app is available on iTunes and Google Play.
Reeds is a popular jeweler that started accepting bitcoin payments. The company has been around since 1942 and they have over 50 physical retail locations in 13 different states. They also have a website where users can spend bitcoin on anything from watches, diamond rings, necklaces, earrings, and more.
CryptoPet is an online pet store dedicated to accepting crypto for pet food and supplies. They have a great selection of products and they currently accept Bitcoin, Litecoin, Dashcoin, and Dodgecoin
Physical locations can be another option depending on where you live. Even if you live in a big city you may find very limited options as bitcoin adoption is at an earlier stage when it comes to physical locations compared to online.
Bitcoin ATMs are also starting to pop up in malls and shopping centers around the world. These ATMs make bitcoin more accessible by allowing people to exchange cash and bitcoin in shopping designated areas. You can check to see if there is a bitcoin ATM near you by searching your location on CoinATMradar.
Conclusion
Bitcoin is becoming far easier to spend compared to a few years ago. Many people are wondering the future price of bitcoin but the answer to that a question relies on the adoption of bitcoin by the public. As new people convert their fiat currency into bitcoin and as new companies accept bitcoin, it makes the cryptocurrency more useful, valuable, and liquid.
Baran Giresunluoglu has a solid background in finance, stock trading and investing. Baran has been fascinated with cryptocurrency since discovering it and is a big supporter of blockchain projects and new technology in the space.