From Tesla to pants: Here’s what you can pay for with Bitcoin and Co.
Hardly anyone can get past cryptocurrencies at the moment. We reveal what the virtual money is good for and what you can invest it in.
The first bitcoin and cryptocurrency millionaires are now out there. No wonder, the virtual currencies are currently booming. Nevertheless, the question arises as to what sense it makes to have a huge amount of virtual money at your disposal and what it can be spent on in the first place. (Read also: Everything you need to know about the NFT hype, to which Elon Musk has dedicated a song).
Cryptocurrencies work with blockchain technology
Bitcoins and cryptocurrencies are basically unregulated digital currencies that are mainly used to buy certain goods and services through certain companies that accept them as payment. Cryptocurrencies work with the so-called blockchain technology (Blockchain services). This is a decentralized technology distributed across many computers that manages and records transactions while (supposedly) providing greater security. (Also of interest: the debut work of this “crypto artist” is worth $688,000).
Tesla CEO Elon Musk now even has his own cryptocurrency. Personalities like Vitali Buterin (founder of Ethereum) or Cameron and Tyler Winklevoss – the twins who took Mark Zuckerberg to court – became millionaires in the meantime through Bitcoins and other cryptocurrencies. Cryptocurrencies are unregulated digital currencies based on blockchain technology.
The first Bitcoin transaction was made for a pizza
- On May 22, 2010, a man named Laszlo Hanyecz conducted the first real-world Bitcoin transaction. He bought two pizzas at Papa Johns in Jacksonville, Florida, for around 10,000 BTC.
- Less than a week after that purchase, the price of one Bitcoin rose 1,000 percent – from $0.008 to $0.08.
- Eleven years have passed since that first purchase.
- There are now many online stores that accept Bitcoins and other cryptocurrencies as payment.
A Tesla can be paid for with Bitcoins
Even at Tesla, for example, you can now pay with the digital currency, as Elon Musk tweeted on March 21, 2021. However, this option is only available in the US for now. The announcement came weeks after the automotive company already invested $1.5 billion in cryptocurrency. Agencies such as BitCars and AutoCoinCards also accept Bitcoins in exchange for luxury cars such as Lamborghini, Porsche and Bugatti.
This is what you can pay with it
In addition to the automotive sector, you can use cryptocurrencies to pay for VPN services like Ivacy (Ivacy review), gold, art or video games, for example, and donate to charitable causes. Vacations can also be booked in this form via portals like Travala. Generally speaking, almost everything you can pay for via PayPal also works with Bitcoin and Co.
Cryptocurrencies have even arrived in the real estate sector. Thus, in 2017, the first house worth $480,000 in Essex was bought with Bitcoins. However, the payment option has not yet become the standard in this sector. However, companies such as Bithome (Bithome website) – a Swiss company with locations in Europe, Asia and the United States – already accept the virtual currency as a means of payment. Also interesting: You have Bitcoins worth $220 million, but forgot the password? That’s exactly what happened to this German guy!
In the meantime, you can also store with Bitcoins in online stores like Bitgera. However, you won’t find many popular brands there. Moreover, much of what is offered there bears a Bitcoin logo. The e-commerce platform Lanieri, which offers tailored clothing such as suits, shirts and pants from Italy, also already accepts the cryptocurrency.
Pizza Hut also announced in November 2020 that it had partnered with Cryptobuyer to accept Bitcoin, Ethereum and other cryptocurrencies as payment for its pizzas in Venezuela. The restaurant chain is not alone in this, however: payments with the virtual currency are also possible at Lieferando in Germany and the Lightning Network, which delivers Domino’s pizzas.