You may have heard of Bitcoin, but may not be familiar with what it actually is or how people use it. Bitcoin is the most popular type of cryptocurrency, and cryptocurrency has been gaining popularity over the last few years. Cryptocurrency is a digital currency that serves as an alternative form of payment or medium of exchange that works through a computer network versus being tied to a government or bank that backs it.
With this in mind, you may be wondering if you can actually use Bitcoin to buy something tangible, like going into the grocery store and using Bitcoin to buy your groceries.
If you have kept up with recent grocery news, you have probably noticed the trend toward buying groceries online and may have been wondering if this can be tied into digital currencies like Bitcoin. Here is everything you need to know about if you can buy groceries with Bitcoin:
Rare to Pay for Groceries With Bitcoin
For a short answer to the question: it is very rare to be able to pay for groceries with Bitcoin. There are several reasons you are currently probably not paying for your groceries with Bitcoin and may not in the near future. First, Bitcoin is new on the scene and relatively untested in settings like grocery stores.
Establishments like grocery stores are hesitant to accept new forms of payment like Bitcoin because of issues with security and volatility. So for now, you are safer paying at the grocery store with cash, credit, or debit.
While it is unlikely that grocery stores will set up an infrastructure for accepting Bitcoin as a form of payment, some stores may expand to accept new forms of payment like Bitcoin in order to stand out. Some stores may also want to appeal to tech-savvy customers and may even use alternative payments like Bitcoin to reduce the fees associated with taking credit cards as payment.
Some Exceptions
Again, while it is very unlikely that there will be a widespread adoption of accepting Bitcoin as payment among grocery stores, there are a few exceptions. First, there is a local grocery store in New Hampshire that began accepting Bitcoin in 2017.
Also, there are several online retailers that accept Bitcoin, some specifically for groceries, and some that carry grocery-related items, but that are not necessarily grocery stores. BitGrocery is an online grocery store that accepts Bitcoin as a form of payment and sells food and household items.
Overstock.com is another online retailer that accepts Bitcoin as a form of payment, but it is not specifically a grocery store. With that in mind, it is definitely possible to purchase groceries and other household items with Bitcoin. However, you must seek out retailers that specifically note that they accept Bitcoin.
As you can see, it is very unlikely that you will be able to pay for groceries at your local grocery store with Bitcoin on a regular basis in the near future. If you really want to try out Bitcoin and purchase your groceries with Bitcoin, you will needs to seek out specific retailers that accept Bitcoin.
