Bitcoin is a cryptocurrency, the first and one of the most popular. The initial idea was to create a currency that any authority couldn’t change. It is freely available for all people in the world, including online shopping. You can use bitcoins for pretty much anything that you usually do with money. However, there are not many sellers who would accept this form of payment yet.
There are only a handful of big companies like Microsoft and Dell which recognize Bitcoins as a payment method:
There has been an enormous surge in bitcoin price in the last few days, and it has hit the $7000 mark on 31 August 2017(as per MT Gox), giving wings to bitcoin users around the globe for further benefits shortly through its e-commerce partnership.
But, I still have to consider a few things before buying bitcoins online & using them for e-commerce transactions.
Here are some points which can help you in getting started with Bitcoins:
– You have to have a digital wallet. This is required because the seller will give you an address where to send the bitcoins after your payment goes through. There are many kinds of wallets available, but using them is not very easy so if you are new, try using one of these simpler alternatives. (Can be used only by Desktop)
– If you want some idea about what can and can’t be bought with bitcoin, visit this link. It has a complete list of companies that accept the payment method. We prefer you to use this link before spending your bitcoins since it is not refundable once you have paid the seller.
– Make sure that you are paying from your wallet and not from any exchange or pool wallet. These wallets can be hacked, and if the hacker gets ahold of your wallet, he will take away all of your bitcoins.
– If you want to buy anything online through bitcoin but are afraid about its security, then try using one of these three websites which provide escrow services for both buyers & sellers: – Paxful, Bitquick & Localbitcoins
– As per our study in the last few months, we recommend you to use kraken.com for buying/selling bitcoins while bitstamp.net for just buying bitcoins. Both are well-reputed sites.
– If you plan to buy big-ticket items, like a car or jewelry, make sure that the seller is ready to give instant delivery because you can’t transfer your bitcoin directly into your bank account. Usually, these sellers would accept other popular forms of payment like Paypal or credit card, but this will put them at high risk should they be selling their products through illegitimate channels.
-It’s always a better option to use our affiliate links for buying Bitcoins which can help us fulfill our needs via eCommerce partnered companies like Listlux mentioned above if required.
So now you know what bitcoin is, how it works, and where you can spend it. So enjoy your shopping while using bitcoins online.
Is it legal to use bitcoin?
Yes, it is perfectly legal to use bitcoin, and there are no laws against this in any country. However, some companies that started accepting bitcoins at the start of this currency have stopped doing so because of its volatility.
This means that if you buy something with 100,000 bits today and tomorrow, they might be worth 200,000 bits, then the company takes a loss for not selling their product or service at reasonable rates.
There is always risk associated with using bitcoins, but everything new comes with these risks. The good thing about them is that they can’t be hacked, and you will get compensated if someone steals your wallet. Bitcoins also provide complete anonymity while making a transaction. This has made them very popular among criminals who use them for smuggling or selling illegal products or services.
However, there are many good people out there who’ve been using bitcoins for the past nine years, and they have never faced any issues while making their transactions.
So why not give it a try yourself? It is perfectly safe to use them if you don’t share your wallet address on the internet or with anyone you don’t trust completely. Trust, Security & Privacy are fundamental principles on which bitcoin has been built upon.
What stores accept bitcoin?
Thousands of stores accept bitcoin, but they are not very easy to find unless you know where to look for them. Here is a complete list of companies that currently accept bitcoins as their mode of payment.
How do I start using Bitcoin?
It’s straightforward. All you need is an address from which you can send or receive bitcoins, some bitcoins in your wallet & internet access. If you are new, our advice would be to start by buying some bits first and see how it feels like holding bits in your hand via Bitcoin Teller Machines (BTMs) located worldwide. BTMs work just like any other normal ATM, only that they only support Bitcoin transactions instead of cash withdrawal. You can get more information on how to use BTMs here.
If you live in a country where there are currently no BTM’s, try finding stores that accept bitcoins as their mode of payment. Once you get hold of your first bits, learning how to spend them is very easy.
– KRACKERSTALK BITCOINTALK FORUM
– Listlux solution for eCommerce based on bitpay.com technology
– Bitcoin ATM companies in India
– Paxful escrow service
– Localbitcoins escrow service with inbuilt BTC exchange in the USA
– Coinsecure bitcoin company India with inbuilt BTC exchange and wallet with builtin merchant gateway in India. It provides merchant POS software too.
– BTCjam peer to peer bitcoin network marketplace
– Bitpesa bitcoin remittance company in Africa
– Quora – What Companies Accept Bitcoin As Payment? https://www.quora.com/topic/Bitcoin#answers
– Blockonomics – Track your spending! https://blockonomics.co
– London Block Exchange – The UK’s fastest-growing platform for simple, secure, and convenient cryptocurrency purchases from individuals http://londonblockexchange.com
– Paxful online store builder powered by bitpay plugin with inbuilt escrow service at paxful.com
– Cryptopay allows you to buy bitcoins with a credit card, debit
