It was May 22nd, 2010, when Laszlo Hanyecz, a Florida programmer, bought two Papa John’s pizzas and paid 10,000 Bitcoins. This was the first-ever recorded real-world transaction using crypto. At that time, 10,000 Bitcoin was worth approximately $41, and since then, the cryptocurrency has surged by over 30,000%.
There are also other exciting items you would never have imagined you could purchase with cryptocurrency. It’s not just legal; it’s fun to purchase those items with cryptocurrency. Some of them are listed below.
Key Takeaways
- Cryptos are also used as a medium of exchange to buy some interesting items.
- It is not legal tender in most countries, but some luxury items like watches and cars can be purchased with cryptocurrencies.
- Cryptocurrencies have created a whole new market, so buying items with cryptocurrencies is not only legal but enjoyable.
- A Lamborghini: Some car showrooms and sellers accept crypto for cars. For example, you can buy a Lamborghini Aventador SVJ Roadster with Bitcoin. The term ‘Wen Lambo’ has become popular among the crypto community, indicating the interest in buying Lamborghini with cryptocurrency.
- Gift cards: Many platforms let you buy gift cards for hundreds of brands with crypto. Most of the popular crypto assets are accepted. Bitcoin payment service providers such as BitPay allow buying gift cards with crypto.
- Branded Watches and Jewelry: Luxury items are another popular item of purchase for crypto owners. There are dealers that let you buy luxury with Bitcoin and other assets, including BitDials. The relationship between crypto and luxury watches is so strong that after the crypto crash of 2022, the demand for luxury watches surged in the secondary market. Particularly, Rolex and Patek Philippe experienced insane demand. It means people who had both crypto and watches as investments sold the latter in order to compensate for the loss in value of the former. You can also use crypto to buy jewelry and precious metals. REEDS is one such dealer, but there are several others as well.
- Space travel tickets: You may purchase space travel tickets from Virgin Galactic using Bitcoin. Some websites such as Alternative Airlines provide access to buy air tickets with over 70 cryptocurrencies.
- Insurance: Insurance options using crypto are also growing. Swiss insurer AXA announced in 2021 that it would accept Bitcoin for all lines of insurance except life insurance. Auto insurance quotes provider Insurance Panda reported last year that some small boutique agencies now accept bitcoin as payment for car insurance.
This article was originally published by Investopedia.com. Read the original article here.