A Bitcoin is a digitally generated and stored currency that isn’t controlled by anyone or any government in particular. It is also not available in printed form. Currency of this kind is generated using computer software with sophisticated algorithms and mathematical formula that are almost impossible to crack, such as Coinbox. The computers used to generate this currency aren’t located in one area, but randomly located in various and anonymous parts of the world. Bitcoins can only be transferred electronically through secure servers, and at very low transaction rates.
Bitcoin is slowly gaining popularity due to various reasons and benefits tied to it. Some of these advantages are discussed below.
1. Unlike bank transactions that take hours or even days, Bitcoin transactions are almost instant.
2. Bitcoin transaction fees are miserably small and sometimes free.
3. It is considerably the most secure mode of payment for purchases. You never have to share produce info as it is required for credit cards.
All you need to start using bitcoins for shopping is set-up a bitcoin wallet. You can then buy a few bitcoins directly from other Bitcoin users or even from a bitcoin exchange. The bitcoin wallet will and should be where you store all your bitcoins for spending.
Once the account is already funded with a few bitcoins, you should be able to start spending almost immediately. With bitcoin’s increasing popularity, more and more merchants have started using and accepting bitcoins as a mode of payment. Even large companies and corporations such as Home Depot, Dell Computers, and Sears have adopted the use of this currency as well.
To find merchants that accept bitcoins, it would be advisable to search through aggregator sites that list marketplaces and merchants in one place.
How to shop with the bitcoin currency
a) Pay for services and physical goods.
b) Through online E-commerce sites
Numerous e-commerce websites have been set up to accept bitcoin payments. A few of well-known companies are listed below:
1. Microsoft: Microsoft has been set up to accept bitcoins, meaning you can add them to your account whenever you want to buy products and services from them. These include Windows Phones, operating systems, videos and video games.
2. Dell Corporation: Dell also accepts bitcoin transactions, and also gives a 10% introductory offer on its high-end Alienware computers.
3. Many furniture, jewelry, and electronics stores: These also do accept bitcoins for payment. This also applies to most major retailers in the market. Computer software’s, hardware parts, and other digital products can be purchased using bitcoins as well. Newegg is a good example of such well-known retailers.
4. Airliners: Air Lituanica and Air Baltic also accept bitcoins for airline ticket purchases. Cheapair.com is another renowned online air travel site that does accept bitcoin payments, with Expedia also promising to start accepting bitcoin payments very soon.
These are just but a few of the companies that have spearheaded into embracing the Bitcoin currency for transactions. Thousands of other companies do accept bitcoin transactions so you shouldn’t be worried on how to spend the money.
Bitcoin Gift Cards
For companies that do not accept bitcoins, you can buy gift cards then use them for online transactions on the merchant sites as well. Some of the companies that does allow customers to purchase gift cards include Wal-Mart, Amazon, Nike, and Target.
From the pieces of evidence and examples on how/where consumers can buy products using bitcoins, it is clear that you can practically buy virtually anything online using the bitcoin currency. It is the fastest, convenient and most secure method available for online shopping. It doesn’t expose your personal info or financial information thus holds the future in online shopping.