We began our purchasing journey with the barter system. Then came money in coins and notes, which made our lives much easier. But as technology progresses, we now have digital currencies we can use to purchase goods or even acquire services. One of the most famous examples of which is Bitcoin.
Because of its promising growth, there is now a Bitcoin self-managed super fund in Australia. With this, one can invest their superannuation fund in Bitcoin. But the question is, what good does it serve them in the future? Let’s find out.
11 Things You Probably Didn’t Know You Can Buy with Bitcoin
Investing will always entail taking risks. However, one needs to make sure that benefit will be greater than what they spent, or else the investment would not be worth it in the first place. So, if you’re thinking about whether or not to have a Bitcoin self-managed super fund in Australia, here are some of the things you can do with Bitcoin.
1. Cars
Although Bitcoin is still unregulated and complex, you can still make grand purchases using this type of digital currency. Elon Musk once considered Bitcoin as a payment for Tesla. But it was halted due to the complicated process, and some customers have overpaid for their cars. It may return soon in a streamlined procedure, but as of now, you can use Bitcoin to buy cars from other dealers in some areas.
Houston’s Post Oak and Alabama and Georgia’s Carriage Auto Group accept Bitcoin as a mode of payment. As mentioned in an article from CNBC, Post Oak has sold 17 cars since 2018 to buyers who paid with Bitcoin.
2. Dallas Mavericks Tickets
If you’re a fan of basketball, you’ve probably heard of Dallas Mavericks. As reported by Forbes, they have been accepting Bitcoin as a method of payment for both their tickets and merchandise in 2019. When you purchase through their website, they use BitPay to process the payment.
But before they started to accept Bitcoins, the Sacramento Kings was the first team to do so in 2014.
3. Fast Food
In some places, you can also buy food with the use of Bitcoin. Over the past decade, Subway has accepted Bitcoin as a mode of payment. The first two branches to offer this payment method were in Moscow and Buenos Aires. However, it is unclear whether these two restaurants still accept Bitcoin.
Aside from Subway, Burger King in the Netherlands started to accept Bitcoin in 2016. The branch went all-in for this new method that they even offered one free Whopper every time a customer purchases using this type of cryptocurrency.
4. A 30-day Supply of Emergency Rations
Augason Farms offers a pail filled with an emergency supply that includes nutrient-rich breakfasts, lunches, and dinners. The contents of the pail are good for 30 days, but if you need to stretch the ration for 45 days, the bucket includes a 45-day meal planner. It is great for emergency purposes or perhaps an apocalypse.
5. Taxi Rides
The taxi drivers in your place may not offer Bitcoin as a mode of payment yet, but in Argentina and Hungary, you can find cabs that are Bitcoin-friendly. Moreover, Cooperativa RadioTaxi 3570 in Italy also accepts Bitcoin for fares. For this method, the customers only have to use the Chainside application on their mobiles for a successful payment.
6. Vacuum Cleaners
Do you need to clean your house because dust mites have dominated it already? Well, you can also use Bitcoin in buying appliances, such as vacuum cleaners. Head on to overstock.com, and you’ll find appliances that are up for grabs, which you can pay through Bitcoin.
7. Coffee
Starbucks, your favourite coffeehouse, now accepts Bitcoin as payment. However, it is only available in selected branches. You also have to use an application to convert your Bitcoins into Starbucks cards and use them to pay for your order.
If cryptocurrency continues to rise in the following years, it is possible that Starbucks will directly accept this currency without having to convert the crypto into a Starbucks card.
8. Furnishing
As of 2021, you can buy furniture in online shops using Bitcoin. There is a huge collection of furnishings on Overstock, Newegg, and Fancy.com. Overstock includes Bitcoin in their payment options, making it easier for the customers to checkout using this type of cryptocurrency.
9. Travels
Do you want to go on a vacation, yet you don’t have money in your bank? Several airlines in different parts of the world now accept Bitcoin as payment. In 2014, airBaltic in Latvia started to accept Bitcoin payments—they were the first airline to do so. CheapAir and Expedia also embrace cryptocurrency.
10. Funerals
Funerals can cost you more money than you expected. If you don’t know where to get money to spend for a loved one’s funeral, you may use your Bitcoins since several funeral service providers now accept Bitcoin payment. This way, you can help lessen the load of your family members in a trying time.
11. A College Degree
Bitcoins don’t just buy you things. One can also go to college with the use of Bitcoin as some learning institutions began accepting Bitcoin as payment for a degree program. In the United States, King’s College has become the first school to use Bitcoin. And now, others are starting to welcome this latest technological process of payment.
Is This the Future?
As more and more establishments embrace Bitcoin as a form of payment, Bitcoin holds a bright future for its investors. So, if you’re planning to invest your Superfund in Bitcoin, we can make the process easier for you.
Setting up a Bitcoin self-managed superfund in Australia can be complicated compared to other investments. Plus, it may take up much of your time, especially if you have no clear idea about what you’re doing. But at Bitcoin Superannuation, you’ll get personalised help from our team. All you have to do is fill out the contact form at https://bitcoinsuperannuation.com.au/contact/, and we’ll get back to you as soon as possible.