Not many people invest in Bitcoins to use it to make payments on the Internet. Most people speculate with it, seeing how the price of Bitcoins can zoom by tens of dollars in a single day. Many also involved in Bitcoin mining with popular mining pools, such as GHASH.io, with a hope for generating income from their own/rented mining hardware
All said, the truth is that Bitcoins have sustained till now because you can use them to pay for goods and services at a variety of places. After all, what good is a cryptocurrency if you cannot buy anything with it? If you are thinking of spending your Bitcoins, we can suggest a few places where you can redeem them.
Overstock is the only major e-commerce company that accepts payments in Bitcoins. The company, begun by Patrick Byrne started accepting Bitcoins in January 2013. The company has started a partnership with Coinbase to process Bitcoins for payments. Customers can buy thousands of products on the site using Bitcoins.
WordPress is a popular blogging service and it is used by a number of large media organizations like CNN, Reuters, Mashable, GigaOm, TechCrunch and others. The company jumped on the Bitcoin bandwagon in November 2012. WordPress allows users to create blogs and websites for free. The service was developed by volunteers and contains thousands of themes and plugins.
Reddit is an entertainment and social news website which depends on links generated by users. The website accepts Bitcoin payments for its premium membership program. The membership offers extra features and comes with special benefits from the website’s gold partners. The company has been accepting Bitcoins from February 2013.
The Internet Archive
The Internet Archive is the foremost archiving website on the internet. It is a digital library for internet sites and digitized cultural artifacts. There are sections on video, live music, audio and texts. It has thousands of digital files of its own and has partnered with a number of prestigious academic, non profit, governmental and other like minded institutions. The websites provides free access to historians, the print disabled, scholars, researchers and to the public. The website is non-profit, it began accepting donations in Bitcoins from 2013 and they are even paying some of their employees with Bitcoins.
Zynga is the prominent gaming sites on the internet. More than a billion people have played either one of their three social games- FarmVille, Words with Friends and Zynga Poker. Zynga’s announcement in early January 2014 that it would accept payments in Bitcoins was responsible for propelling the price of a Bitcoin to more than $1000.
Other popular companies that accept Bitcoin payments include Virgin Galactic, Namecheap, OkCupid and others.
How about you: Bitcoin – yes or no?
As you can see, there are retailers -and the numbers are growing – that accept Bitcoins as a form of payment. As a business owner, you might want to start considering Bitcoins, in order to capture Bitcoin-savvy customers. What do you think?