Myth busting competition- You cannot buy anything with Bitcoin

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Written by
2 years ago
Topics: Bitcoin

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The first obvious point to prove this is a myth is El Salvador. The government of El Salvador made Bitcoin the legal tender of the country. Adopting Bitcoin as Legal tender means that all they do with fiat Money before will now be done with Bitcoin.

Salvadorans buy and sell with Bitcoin. All their day-to-day transactions are now being done with Bitcoin. Companies use Bitcoin as means of exchange. The government made a law that says the citizens will be able to pay taxes in Bitcoin, and shops will be able to display prices in the digital currency.

Bitcoin has made things easy for us. An uncle of mine who deals with buying and selling of foreign goods no longer uses cash app or bank transfers to pay for imported goods. All he does is just to know the price of the goods he is buying in Bitcoin. And this was easy for him because he buys the same quantity of goods every time.

You can buy anything with Bitcoin

Some companies have already adopted the use of Bitcoin. Their customers make deals with them with Bitcoin.

Transacting with Bitcoin enables fast and cheap payments across countries, and it doesn’t require banks.

Electronic Appliances

A lot of Electronics companies have begun the adoption of Bitcoin as a means of payment. They don't deal with cash all the time. All they have to do is to send their company's wallet address to the customer. Or better still with the use of a crypto debit card.

The crypto debit card would have been loaded with Bitcoin, just like the debit card we use in banks. With the use of the crypto debit card, the seller will receive payment as fiat Money.

I saw the advertisement of a company that deals will selling refrigerator, pressing iron, television set. They made it Known in the advertisement that they accept payment in Bitcoin.

Vehicles

Car dealers are now accepting Bitcoin as a means of payment. One of our relatives is a car dealer. I went to his office one day, that was where I learned that he accepts Bitcoin as payment too.

Even he pays Bitcoin for the importation of his cars. This means they accept Bitcoin as payment abroad too. He needs not to stress himself by doing a bank transfer. He pays for the cars and the shipping fee in Bitcoin.

And lot more

There are a lot of things you can buy with Bitcoin. You can buy Gold and pieces of jewelry, Computers, and so on with the use of Bitcoin. In fact, there is nothing you can't buy with Bitcoin. So far it is in large quantity. This doesn't mean little products can't be bought with Bitcoin. It can definitely. Just that only companies that dell in large quantities have accepted the use of Bitcoin.

Making transactions in Bitcoin i.e buying in Bitcoin is a very fast and reliable means. It should be adopted in all parts of the world.

I'm looking forward to when my country will finally adopt Bitcoin as her legal tender too. It is going to save a lot of stress and it will make the country digital.

With the above Witten points and deets, I believe I've been able to convince you that you can buy anything with Bitcoin.

Here is my entry in the myth-busting competition@SofiaCBCH

Thanks for reading 🙏❤️

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Avatar for Abhay
Written by
2 years ago
Topics: Bitcoin

Comments

You are absolutely right: with Bitcoin you can buy anything; and as you say only rather established companies make extensive use of it. In my consultancy for the introduction of crypto in the payment circuits I saw that people (even important entrepreneurs) know little about the management of crypto and above all I noticed a certain fear towards the tax authorities. Fortunately, the research I did gave me the opportunity to find some platforms that allow, in line with the fiscal requirements of my country, the possibility to introduce crypto as a method of payment. It's still a very unexplored environment, but not for this reason impossible to manage!

$ 0.00
2 years ago

$ 0.02
2 years ago

Thank you Club1BCH, thank you Ate Jane

$ 0.00
2 years ago

Yeah, naija is coming to that stage, it's just a matter of time and more enlightenment via testimonies of Bitcoin usage. It'll definitely make sense to use Bitcoin/crypto currency for transactions

$ 0.00
2 years ago

What an amazing article, thanks for the update. It's becoming more and more obvious day by day that Bitcoin is going places

$ 0.02
2 years ago

I can simply say the future depends on Bitcoin and cryptocurrencies very soon I the future payments will be done by bitcoin not cash .

$ 0.00
2 years ago

Bitcoin is the currency of the future and I hope more countries realize that and start using it.

$ 0.00
2 years ago

Bitcoin has been widely used all over the world,with it's swift payment we can buy anything with it.

$ 0.01
2 years ago

Nice response to the prompt, Bitcoincash is very useful and there's nothing we can't buy with it. Welcome bro.

$ 0.01
2 years ago