Due to high transaction fees, large price fluctuations, low throughput, and 10 minutes confirmation time, Bitcoin may not be suitable for small consumption payments, such as coffee. However, more and more merchants are now accepting Bitcoin as a payment method.
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This is thanks to Segregated Witness and Lightning Network. The former strives to solve the cost problem to a certain extent, while the latter is continuously integrated and developed. The digital signature algorithm (Schnorr) and taproot soft fork upgrade proposal are trying to solve the scalability of Bitcoin transactions.
Now, let's see where in the real world you can buy things with Bitcoin in 2020.
Who will accept Bitcoin in 2020?
According to Paxful and Paybis data, Spendmenot.com released a comprehensive report covering various industries supporting Bitcoin payments.
Fashion Wear (Jewelry, Watches, Luxury Goods ) -Ancora1919 Store; Etsy, Domoshop and Real Watches
Services (Payment, Telecom, Intermediary) -Telecom operators AT & T, Dish, and Bitrefilll, which provides Bitcoin top-up mobile phone charges; Purse, which offers Amazon shopping discounts; Gyft, a gift card provider.
Catering- Fast food restaurants such as Crypto Coffee, Burger King, Subway, and Domino's Pizza; Roots, a wholesaler of organic herbs and spices; and Whiskey.De, a top spirits merchant.
Banking services (banking and bill payment) -Not all banks hate bitcoin. Germany's Fidor Bank, Goldman Sachs, and Royal Bank of Canada accept bitcoin. In addition, startups such as Bylls and the Living Room of Satosh are committed to paying bills.
Online Stores -Many online stores support Bitcoin, such as Overstock, Shopify, Cryptoshopper, Bitplaza, Bitshopping, etc. You can find almost anything on it.
Travel -Yes, today you can even buy plane tickets with Bitcoin, such as CheapAir, Bitcoin.Travel, Cryptocribs, and Travelbybit.
Cars -If you mine enough bitcoin in 2009, you can buy a Lamborghini, or a new BMW, or even a classic muscle car on Classic Creations.
Charitable donations -There are many types of charities that accept Bitcoin, such as WikiLeaks, Code Inspire, United Way, Save the Children. Alternatively, you can donate to your favorite open source projects, such as Tor.
Movies -You can watch the latest movies at cinema chains such as AMC, CineMulti and Major Cineplex.
Online marketing, software / hardware, hosting / VPN -there are many options to meet all your technical needs.
Cryptocurrency usage is proliferating.