Who is Accepting Bitcoin?

Accepting Bitcoin

People from various places in the world are now looking into either investing in Bitcoin or trying to make a profit from it. This is because they realize the benefits of owning bitcoins are greater than the known risks.  If you’ve read through our guide on how to secure your bitcoins, you’re probably wondering now where you can spend them. At this moment in time, there are many places online where you can buy things with bitcoins, and there are also places you can buy in person. Regardless, it seems the Bitcoin fever has spread! Read through the following to know some of the places in the world that accepts this dynamic currency.

India

• In India, entrepreneurs based in cities such as Mumbai and Bangalore, are accepting bitcoins at a rapid pace. In fact, India has a Bitcoin community of 50,000 in which around 30,000 people actually own bitcoins.
• However, after a warning issued by the Reserve Bank of India that called bitcoins volatile and risky, many Bitcoin operators shut down indefinitely.
• Nonetheless, there are still people in India who are sticking to bitcoins even after the warning because they know that its value is worth more than the risks.
• Recently bitcoin operations have resumed in India after the RBI made another announcement.

Canada

• The Bitcoin Foundation Canada educates people on what Bitcoin really is. Community building events are held as a way to increase awareness of bitcoins.
•  In addition, the very first Bitcoin ATM was installed in a coffee shop in Vancouver. This innovative ATM allows bitcoins to convert to Canadian dollars and vise-versa.
• Many more Bitcoin ATM’s have opened up in Canada following the first.
• Quantum Properties, a real estate firm, has started accepting bitcoins as payment for properties.

Australia

• The Bitcoin Association of Australia’s goal is to “protect, standardize, and promote bitcoin.” Many people, regardless of whether or not they wish to invest in this digital currency are interested in understanding what it entails. Having community events and organizations such as these helps educate the population on the concept of Bitcoin. In addition, it will also allow the public to become more aware of the increased popularity and potential growth this currency has. Moreover, having a good understanding will lead to better decisions.

U.S.A

• Overstock.com, an online U.S retailer, has started accepting bitcoin as of January 9, 2014. However, the CEO of the site initially said that the company will accept bitcoins as payment in around June 2014. Regardless, this is the first major U.S e-tailer that will allow the customer to pay by virtual currency. Honestly, this could be a publicity stunt to call attention to the website, but it could also be a way to attract new customers.
• Either ways, the CEO’s decision does increase support for the Bitcoin since this means that a huge online retailer is accepting digital currency. It also shows that the Bitcoin is slowly becoming main stream in a very short amount of time, and people are becoming more aware of the potential value it will have in the future.
• This retailer may be the first major one to accept Bitcoin payment, but it is highly likely that more will follow suit very soon.

• The Bank of America has stated that Bitcoin can potentially become a “major means of payment for eCommerce” and can also become competition to money transfer providers. It is rather interesting that a bank is expressing a positive opinion of Bitcoin and it shows that Bitcoin is gradually receiving wider support.
• However, the bank further stated that if Bitcoin gets too big, the government might have to do something about it. This is not necessarily a concern, but it is definitely something to think about.
• Sacramento Kings is the first U.S based sports team that is accepting Bitcoin. With this, the dynamic coin makes an entry into the sports world; we can imagine it’s here to stay.
• Sean’s Outpost, a homeless outreach program, accepts donations in Bitcoin.

United Kingdom

• Loudwater Estate Event Center, a wedding venue service in England, now allows payment in Bitcoin. Now you can even pay for your wedding in virtual money!
• eBay U.K is allowing customers to sell bitcoins and other digital currencies.

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