Many people tend to look at Bitcoin as an investment or speculative vehicle. At its core, it is designed to transform real-world and online payments. Using services such as Spendabit highlights this currency’s potential.
What is Spendabit?
Keeping tabs on all the different merchants accepting Bitcoin payments is virtually impossible. Not just because there are quite a few, but some tend to simply ditch Bitcoin as a payment option without informing the public.
Intermediary services, such as Spendabit, can certainly help in this regard. They let users search across over 3 million products that can be purchased with Bitcoin right now. All of the information is sourced from top retailers handling Bitcoin payments, including NewEgg, Overstock.com, and hundreds of smaller merchants.
Developing this “Bitcoin product Search Engine” can help advance the cryptocurrency ecosystem..it is due time that Bitcoin is considered as a payment option first and foremost. Price speculation is great for traders, but that is not what Satoshi Nakamoto had in mind originally.
Where are Merchants Based?
Gathering information from all over the world is the core mission for Spendabit. Its list of merchants spans a ton of locations, including the UK, Germany, the US, Canada, and Australia, to name a few. It is also intriguing to see Thailand, Iran, and Hong Kong represented, as well as many other regions..
Overall, the number of merchants handling Bitcoin payments remains very small. Improving market penetration in this segment is not easy.
Moreover, several merchants have tried to incorporate this method early on, yet removed the option altogether. Getting those companies back on board remains another hurdle to overcome.
What are People Buying?
With access to virtually anything that comes to mind, there are millions of options to explore. Some of the popular searches on Spendabit include computer hardware, shoes, home and garden products, and even single malt scotch.
Contrary to what most people may think, there are a lot of things one can spend Bitcoin on. What is even more important, most stores offer discounts when BTC is used as a payment option.
Consumers often tend to forget that Bitcoin-based shopping will oftentimes be cheaper compared to using traditional payment methods.