Coinbase, a cryptocurrency exchange platform, recently became the first major crypto business to go public on the US stock market. This exciting move reflects a major progression for the cryptocurrency industry as it continues to gain increasing relevance in the mainstream economy. While cryptocurrency is by no means as commonplace as fiat currencies in everyday life, you’ll find more and more it’s accepted as a viable payment method across various industries.
Numerous clothing outlets are now accepting cryptocurrencies as payment methods. For example, Lanieri is a high-end men’s clothing e-commerce platform active in over 50 countries around the world. On the platform, you can order made-to-measure clothing, which includes your choice of high-quality Italian fabrics and individual details. Payment in Bitcoin is accepted and full refunds are also provided if your order isn’t a perfect fit. Additionally, SUMOR Par Elle, a Dutch clothing and accessory store, also accepts Bitcoin transactions for its wide range of handbags and shoes.
Crypto mortgages are making it possible for people to purchase homes with digital currency. For example, the Home Loan Expert LLC was recently the first major mortgage lender in the US to start accepting Bitcoin as a down payment method on homes. Cryptocurrencies are particularly popular with Millenials and gen Z, who are also the largest market for potential homeownership, making crypto a worthwhile down payment and monthly payment method for lenders. Moreover, crypto-specific realtors, although still few in numbers, are providing buyers with access to real estate completely through digital channels. For example, Mercado Libre is an Argentine-based online marketplace with its own crypto section, which enables real estate transactions in Bitcoin. There’s also Bithome, a Swiss consulting and escrow firm, that conducts business across America, Europe, and Asia. They aim to simplify and streamline all transactional elements surrounding the use of crypto to buy or sell real estate.
It’s even possible to purchase second-hand cars with crypto these days. As it currently stands, however, most car makers typically don’t accept crypto payments for new cars, which is why you’ll need to instead go the second-hand route. Although Tesla started taking crypto payments earlier this year, this only lasted a few months before they reversed their decision. Since Bitcoin uses up a lot of energy and has a large carbon footprint, it, unfortunately, doesn’t fit well with Tesla’s eco-conscious values. Nevertheless, you can still use crypto dealership platforms like BitCars and AutoCoin Cars to shop for luxury vehicles; Bugatti, Porsche, McLaren, Lamborghini, and Koenigsegg are some of the high-end makes you can purchase with crypto on these platforms. Karma Automotive, an electric car manufacturer, also accepts payment in Bitcoin at its main dealership located in Newport Beach.
Cryptocurrency continues to become more accessible and enter the mainstream in various industries around the world. Whether you’re shopping for clothing and accessories, real estate, or second-hand cars, you’ll be able to enjoy using crypto as a payment method.