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How to Buy Your Tesla With Bitcoin

Tony C

Tony C

April 21, 2021, 10:35 AM UTC

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How to Buy Your Tesla With Bitcoin


Over the last decade, cryptocurrency has embedded itself in the global marketplace, and its undoubtedly here to stay. However, in the most recent years – and indeed months – big-name tokens, such as Bitcoin, have been exponentially gaining traction as more palpable monetary systems. Many businesses, such as Microsoft, Home Depot, and even fast-food establishments such as Kentucky Fried Chicken, have begun accepting crypto as payment, for a variety of goods and services. Although there is still a lot of ground to be covered, this article is here to focus on some of the most interesting products and services you can buy with cryptocurrency right now, and the pioneering companies that are normalizing the future of crypto transactions.


Home Depot

Let’s start with the foundation: habitation and residential construction together, form the most essential cornerstone of a modernized society. Because of this, one may conclude that a modernized medium of exchange, should be capable of facilitating the means necessary for such construction projects to take place, within a timely manner. As the largest home improvement and hardware chain in the United States, its no secret that this corporation is central to construction and renovation projects for both professionals and novice homeowners alike. Home Depot accepting Bitcoin as payment, gives individuals the unique option to construct a home, or indeed any sort of building, directly from cryptocurrency, without the added step of converting the crypto into fiat currency.


Home Depot achieves this by utilizing the Flexa Network Protocol; a payment system which accepts Bitcoin from the customer, and immediately pays the merchant in fiat currency, while the blockchain is verifying the transaction. Flexa, as well as other similar network protocols make spending and accepting cryptocurrency considerably easier for all parties involved, due to its method of settling transactions in the background. this also makes it convenient for customers to make smaller, everyday purchases, such as grocery shopping.


Whole Foods

Small purchases of the daily necessities are truly the meat and potatoes of all types of transactions. Whole foods has decided to take a slice of the Bitcoin pie, much in the same way as Home Depot. Not only can customers buy their regular groceries directly with Bitcoin, but they can also utilize the deli and coffee shop. This makes Whole Foods one of the first businesses in the United States, that allows its customers the option to directly turn their crypto into a quick bite to eat, or that afternoon pick-me-up.


Accepting Crypto Directly


Now, it’s about time to discuss Tesla, Inc. as well as a few other major players who accept Bitcoin directly. Tesla, made big news when the automotive corporation purchased 1.5 Billion dollars’ worth of Bitcoin, in February 2021, and has since profited an additional billion dollars off of its investment, within the last several months. This puts the EV automotive manufacturer in a unique position to profit more greatly from its purchase of cryptocurrency, than from the company’s sales of vehicles, roofs and solar panels.


Shortly after Tesla’s purchase of Bitcoin, the company announced that they would be accepting Bitcoin as a standard payment method, and now, most of the Tesla product line is available for purchase, directly, with the cryptocurrency. Unlike the aforementioned third-party network protocols, such as Flexa, Tesla products can be purchased by directly transferring Bitcoin from the customers wallet, to the company’s wallet, in a true peer-to-peer fashion. This makes Tesla the first automotive company to accept cryptocurrency, in history.


The Microsoft Corporation has been a long-time supporter of cryptocurrency, since the inception of Bitcoin, back in 2009. Microsoft’s founder – Bill Gates – has written about cryptocurrency many times over the years, stating that he believes it to be better than money. This is evident with the Xbox product line, as the Xbox Online Marketplace has been accepting Bitcoin for products and services, since 2014.


Lastly, Overstock.com is blazing the cryptocurrency trails by directly accepting Bitcoin for years. This allows customers to purchase all types of products; from furniture to clothing with cryptocurrency, from the comfort of their own home. Overstock.com has also officially announced that they are getting ready to launch their own cryptocurrency. As always, trade safely, and we wish you great success in your trading endeavors!


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