Analysis of Countries and Brands Which Accept Bitcoins
Given what it represents—speed, cost, efficiency and a symbol of freedom, Bitcoin is no doubt under the spot light as countries race, seeking the best way of regulating world’s most valuable cryptocurrency and digital asset. All the same, considering the potential as an extra source of revenue, some countries and companies are taking the initiative to accept Bitcoin as a means of payment supplementing fiat.
Travel with Bitcoin to Any of These Countries
While the US authorities formulate laws to regulate Bitcoin, the community and even market leaders continue to pile pressure on the legislature, urging them to be proactive, create laws that would spur innovation—not stifle them, lest they lag as other countries as China, forge ahead. Over the past six years, the United State Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) has been issuing guidance on Bitcoin while the SEC actively classify them guiding investment. That is perhaps why some leading corporations as Microsoft for example do accept Bitcoin and other liquid crypto for settlement.
But it is not the US alone; Canada is Bitcoin-friendly environment. While the government doesn’t want it to be a tool for money laundering, the Canada Revenue Agency (CRA) views Bitcoin as a commodity. As a result, people can travel with Bitcoin in Canada and carry out transactions with it. Australia is another country where you can travel with Bitcoin and be confident that it would be of immense use. However, Australia considers it a currency and allows people to trade, mine, and purchase it.
Japan was the first country in the world to regard Bitcoin as a legal tender. Alongside its Asian neighbor, South Korea, the two countries are amongst the best destinations for cryptocurrency enthusiasts.
Bitcoin is also a big deal in Europe. As they chase down regional regulation of crypto led by France, individual countries are already taking the initiatives of making their states excellent for Bitcoin and other cryptos.
In addition to this list, countries such as Venezuela, Zimbabwe, and a few others have become a hot spot for Bitcoin as the cryptocurrency replaces their fiat currencies due to hyperinflation.
Brands That Accept Bitcoin
While countries would allow Bitcoin to serve as a legal tender, it is the big brands that would help boost its adoption. So far, Bitcoin has been successful over the past few years. Travel with Bitcoin is best represented with CheapAir, a US-based flight booking service that enables people to pay for airline tickets using Bitcoin and other cryptos. With CheapAir, you can travel with Bitcoin on both domestic and international flights.
Asides CheapAir, Expedia is another service that allows users to travel with Bitcoin. People can book hotels with Bitcoin via Expedia. Aside from that, you can use book for hotels and accommodations from over 500k properties in more than 80 currencies from Travala.
Microsoft is perhaps the most prominent brand to accept Bitcoin. It is the first big tech company to receive the crypto as a means of payment as users can pay for stuff like movies, Windows 10 licenses to games, Windows app, and many more.
Even so, Overstock is the leader, accepting the coin during the 2014 storm. The online retailer allows users to pay for products on their store using Bitcoin. They are joined by others as Newegg, PizzaForCoins, Gyft, More Stamps Global, Reed Jewels, and so many others.