Buy Rugs, Pay Restaurant Bills: Cryptocurrency Gaining Acceptance For Payments

Billionaire entrepreneur Elon Musk who said in July that his electric vehicle-making company Tesla will "most likely" start accepting payments in Bitcoin again

Most investors see cryptocurrency as a store of value and a means to make quick profits. But some of these virtual coins are gaining wider acceptance – as a payment option like the traditional rupee or dollar. The biggest endorsement for Bitcoin, the oldest and most popular of all these virtual currencies, came from billionaire entrepreneur Elon Musk who said in July that his electric vehicle-making company Tesla will “most likely” start accepting payments in Bitcoin again. Several others have also announced that they would be accepting cryptoins as a payment option. In India, too, you can buy items online and pay at selected restaurants in crypto coins. Though cryptocurrency has not received the backing of the government, the Supreme Court has reversed a 2018 RBI ban on its trade. Here's where you can use cryptocurrencies to buy goods and services in India: Suryawanshi Restaurants in Bengaluru's Indiranagar and Whitefield accept payment in Bitcoins. So, the next time you forget your wallet at home, don't panic as long as you can access your Bitcoin wallet. Along with traditional payment, the restaurant accepts Bitcoins as well.