Over the years, Bitcoin has undergone massive development both in value and use cases. As the leading cryptocurrency, most users buy it as a form of long-term investment while others also look to make profits due to the rampant market movement.
However, what is not lost for the crypto market is that Bitcoin was originally meant to become an alternative to fiat currencies. That would work in place of the centralised currencies for the transfer of value and a medium of exchange.
So far, several businesses have embraced Bitcoin payment as a payment method both for online and offline transactions. It is no longer a question of whether you can use Bitcoin to buy anything or not. Instead, it’s a question of what can you buy with Bitcoin?
What can you buy with Bitcoin in Australia?
Australia is one of the leading countries in the world in relation to Bitcoin adoption. It was one of the earliest countries to legalise Bitcoin. The population is open to cryptocurrencies and several businesses have since accepted crypto as a form of payment. According to CoinMap, Melbourne is the most popular city in Australia for Bitcoin acceptance, with over 50 businesses accepting Bitcoin for payment. Sydney follows next, with almost 30 outlets accepting Bitcoin payments.
The other reason for the increase in Bitcoin acceptance in Australia is its role as a popular tourist destination. The country is home to globally acclaimed restaurants and entertainment spots and hosts major tournaments like the Australian Open.
You are spoilt for choice if you think of what you can buy with Bitcoin in Australia. You can buy food and beverages, access medical services, entertainment, fashion and fitness, and accommodation services.
Even though most of the businesses are yet to accept Bitcoin in Australia, the sustained growth means quite a lot of them will do.
Where can you spend Bitcoin in Australia?
Knowing that you can use Bitcoin in Australia is not enough, you still need to understand what you can use Bitcoin to buy? There are several stores that accept Bitcoin payments, both online and offline.
Online stores accepting Bitcoin
- Microsoft – this is one of the largest online stores that accept Bitcoin payments for its services. It incorporated Bitcoin payments in 2014, albeit halted a little due to inflation. It has resumed the Bitcoin payment options.
- Amazon – it is another of the leading stores that accept Bitcoin, however through a third party, Purse.io. The platform allows users to exchange their Amazon gift cards for your Bitcoin. It also allows for discounts, hence saving you more costs.
- Overstock – this is one of the biggest eCommerce platforms that has embraced the cryptocurrency world. It stocks a wide variety of products from furniture to clothes. The online store supports not just Bitcoin, but also other cryptocurrencies payments.
Physical stores accepting Bitcoin
So, other than the online global stores, what can I buy with Bitcoin in physical stores? Well, there are several options to choose from depending on the services needed. For example, for a dining experience, fancy restaurants like Green peppercorn and The Kodiak Club are an option. These are among the several other cafes and restaurants that accept Bitcoin.
Bitcoin adoption in Australia is still in the discovery stages. It still faces volatility and transaction speed challenges. However, all indications show it is the future of both online and offline transactions.