It's often been said that bitcoins are the payment system of the future. But rhetoric like this won't just magically become true overnight unless people start doing their day-by-day transactions using the digital currency. Luckily, more and more retailers and service providers are starting to accept bitcoins as a method of payment.
Most major cities in Australia have such forward-thinking companies, but none can compare to Melbourne, the current bitcoin capital of the country. With over 50 retailers willing and able to accept this method of payment, it's quite easy to start living your life free of bank fees and commissions. With that in mind, here are some of the most common ways to spend your hard-earned digital currency in Melbourne:
1. Go to a restaurant/cafe
Spending quality time without having to carry cash or even credit cards is now possible in select locations across Melbourne. Go about your morning by getting a caffeine buzz at The Little Mule and sampling the breakfast at Beaver's Tail Social Club. And spend your evenings at the Habitat Lounge, where you'll find comfort food and eclectic cocktails in an industrial-chic decor.
Whether you're in the mood to buy jewellery and other trinkets from Vera Chan, or if you simply have to replenish your stocks by doing a little grocery shopping at Earth and Sky Organics, there are plenty of places in Melbourne that will trade you items in exchange for bitcoins. You can even get some niche books and movies from the online-only Polyester shop.
If you feel like pumping some iron, the female-only Fernwood Gym is ready to take your bitcoins in exchange for gym and fitness memberships. They even provide a helpful list of nearby businesses that have boarded the bitcoin bandwagon for when you're in the neighborhood.
If you're on the lookout for a professional cleaning company to provide service to your home or business, you should know that the only domestic cleaners in Melbourne that allow you to pay in bitcoins are the good people at Uber Clean House. What's more, the company prides itself on using only eco-friendly products and providing a dedicated Airbnb service.
5. Make large purchases
Within the next decade or so, bitcoins will be used in any type of transaction, no matter how large. While we're not quite there yet, some people have already begun dipping their toes into the future. Currently Tomcar lets you buy off-road vehicles using nothing but your electronic wallet, while the Forsyth Real Estate company accepts bitcoin payments for advertising and deposits. At this rate, and with a bitcoin-only house already on the market in Perth, it's only a matter of time before people grow comfortable enough with the idea of using digital currency to pay for virtually anything.
This pretty much sums up some of the most common activities that one can engage in using bitcoins in Melbourne. With special Bitcoin-dispensing ATMs being rolled out at a rapid pace and an exchange rate that's approaching high levels of stability, chances are the Australian market will continue to embrace this innovative payment system in the years to come.