Start the conversation
Comment on This Story
Or to contact Money Morning Customer Service, click here.
Since last week when a $103,000 Tesla Model S was purchased at a Lamborghini dealership in Newport Beach, Calif., you may be wondering just who accepts Bitcoin for payment.
The fact is this virtual currency is becoming so accepted that seemingly everything can be bought with Bitcoin. And it's not just lavish items like the Tesla Model S (which equaled 91.4 Bitcoin at the time of sale).
Sites like Bitpay.com have made it easy for merchants and retailers to convert Bitcoin to more than 30 currencies. If a customer wants to pay in Bitcoin, the retailer can then convert the virtual currency to dollars at that day's exchange rate. For retailers, that eliminates fluctuation risk.
That has made the process of accepting Bitcoin much simpler, and more rewarding, for all kinds of retailers - and made Bitcoin even more mainstream.
For consumers, buying with Bitcoin has become more commonplace as smartphone apps have made virtual wallets easier to handle. One app, "Bitcoin Wallet," is currently adding approximately 5,000 new users a day - up from 500 a day in early 2013.
Consumers can already complete these everyday purchases with the currency...
Who Accepts Bitcoin?
Coffee shops: Coffee drinkers across the country have been getting their caffeine fix with the help of their Bitcoin wallets. Coupa Café in Palo Alto, Calif., is just one of the many cafés in the United States accepting Bitcoin.
"A lot of people have Bitcoins, but they don't have a place to send it," owner Jean Paul Coupal told NBC. "Now they can come and buy a cup of coffee with it."
Grocery stores: Consumers in San Francisco can pay for their weekly groceries in Bitcoin at several locations across the city.
Not only is Buyer's Best Friend Wholesale & Market accepting Bitcoin at its three locations, but it's also taking 5% off the bill for anyone paying with the crypto currency.
The owners initially decided to accept Bitcoin to cut back on credit-card processing fees and also entice enthusiastic Bitcoin owners to come spend at their store.
Tax Services: "In this world, nothing can be said to be certain, except death and taxes..." and Bitcoin?
At least with BitCoin you have a choice to participate. In the case of the unbacked USD, you have no choice. This is plus opportunity for me to buy my fav Lamborghini Gallardo Coupe from http://www.lamborghinipalmbeach.com. Cant wait!! :)))
Now you can even buy Tesla coils with Bitcoin…
We accept bitcoin at Dancing Lion Chocolate, our artisan chocolate shop in Manchester, NH, USA. You can also pay with bitcoin online at our Etsy shop. You can find us at http://www.DancingLionChocolate.com.