The real world case for BTC is improving. Several payment processors and a handful of retailers are allowing you to buy with BTC. Plus, you can now buy real estate with BTC. In this post, I’ll give you my best answer to the question of, “what can I buy with BTC?”
Since our website is called Escape Artist, I’ll start with the best asset you can buy with BTC to diversify out of the United States: Real Estate in Belize.
That’s right, you can now buy real estate in the country of Belize using Bitcoin. 100% of the transaction can be completed in BTC.
The first BTC real estate transaction took place in Texas in 2017, but this was a one-off transaction between a buyer and a seller… more like a swap than a real estate transaction.
Belize is going all in on Bitcoin and developers are offering parcels, condos, and homes for sale. If you want to diversify out of BTC and into a country that values privacy, consider buying real estate in Belize with your Bitcoin.
For more information on buying property in Belize with BTC, send me an email to firstname.lastname@example.org and I’ll connect you with a local developer.
In the United States, you can buy just about anything you want on Amazon using BTC. Here’s how:
Set up an account at a payment processor such as iPayYou and transfer some of your BTC from your trading platform to this wallet. These companies charge a fee to convert your Bitcoin to dollars and then another fee to transfer that cash to onto a gift card.
For example, iPayYou charges 3% to convert BTC to dollars using the CoinDesk price at the time. The fee to transfer that money onto a card or account is $2.25 to $3.75 on average.
Once your BTC is sold for dollars, you can transfer that cash to an Amazon, Best Buy, Starbucks, or Apple gift card.
One of the best things to buy with BTC is travel on Amazon. They’ve been offering Bitcoin as an option at checkout since 2014 and are expert in the conversion.
Gyft offers a Southwest gift card, so you have some options for travel. And you can buy a Dell gift card with eGifter if Amazon doesn’t have what you need.
If you really want to get away, you can buy a flight to outer space using BTC. Seriously, Virgin Galactic will allow you to pay for a space flight using Bitcoin.
And, of course you can buy products on Overstock.com using BTC. Expect Overstock to go big into crypto because they also operate the first any only regulated US ICO exchange. tZero goes live on November 15, 2017.
All of the transactions above are meant for relatively small purchases. Sure, you can spend a few hundred dollars, or even a few thousand, but it’s tough to exchange or diversify out of a larger BTC portfolio.
The only country that allows you to easily convert cash (paper money) into bitcoin, and transfer Bitcoin onto a MasterCard or Visa branded card is Mexico. You can deposit cash on to a Mexican Bitcoin exchange at any of the 140,000 convenience stores in the country… something that would never happen in the US!
You can also buy a Visa or MasterCard at these OXXOs or 7-11s and load it up from your Bitcoin wallet. Transaction costs are minimal and you can move from BTC to Pesos in a matter of minutes.
While Mexico has the most efficient cash to crypto system in the world, it’s only open to locals. An American can open an account and process about $300 a day in this manner. Larger amounts will require you to prove you’re a Mexican citizen.
The only large dollar offer to move from BTC to another asset at the moment is real estate in Belize. Belize is the only country willing to open up the BTC floodgates to sizable transactions.
Belize is also the only privacy and asset protection jurisdiction doing business in BTC. Much like Bitcoin back in the day, before governments screwed it up, Belize is a free and open society. People value privacy and taxes are minimal.
If you don’t want the SEC and IRS involved in your trades, and don’t like the US government’s war on cryptocurrency, I suggest you consider taking your coins offshore and investing in Belize.
I hope you’ve found this article on what you can buy with BTC to be helpful. For more on opening an offshore company or buying real estate in Belize with Bitcoin, you can reach me at email@example.com or call us at (619) 550-2743. All consultations are confidential.