Look at how popular cryptocurrencies are today compared to a decade ago when nobody was even aware of the name “Cryptocurrency”. Now, you can even buy things with Bitcoin. You can make a wide variety of purchases. Although a few companies have headed up accepting cryptocurrency payments, we expect that others will also accept crypto payments in the future.
Most newcomers to the cryptocurrency market will begin by buying and trading in ethereum code like Bitcoin or Ethereum, which are rapidly gaining in popularity and are starting to rival Bitcoin in terms of market cap. Then, they may look for cryptocurrencies with certain characteristics, like Monero’s robust privacy and security features, or they can spread their risks by investing in potential new ICOs, which can generate significant gains if done correctly.
Unless you’re a complete crypto-anarchist, however, you’ve definitely checked your digital wallet and pondered what you can do with your Bitcoin and other crypto assets in the real world. Even if it’s nice to watch your digital purse becoming fatter, you shouldn’t put all your virtual eggs in one basket.
What Can You Do With Cryptocurrency?
Bitcoin may be used for a broad range of goods and services today, both online and offline. While there are more exhaustive lists, we believe this will demonstrate the breadth of possibilities. Let’s take a look at that.
- Do Charity and Tip
Paying it forward is perhaps the simplest and most gratifying method to spend your bitcoins. Bitcoin may be used to make instantaneous donations to charities or to reward the writers of your favourite articles and blogs. You may use bitcoin to purchase Reddit Gold and then donate it as a thank you to the person who regularly posts your favourite cat pics.
- Buy Gift Cards
Some resourceful individuals have developed a workaround while we wait for retailers like Amazon and BestBuy to accept bitcoin directly. You can buy gift cards for Amazon, Best Buy, and hundreds of other prominent merchants with bitcoin using services like eGifter or Gyft, and then use those gift cards to make purchases at those stores.
- Purchase Video Games
Those who like both gaming and crypto now have a way to combine their interests. You may use a wide variety of cryptocurrencies to purchase games from different sources. You may either utilize a particular website that takes crypto for video games as payment, like Steam, PlayStation, or Xbox, or you can purchase a gift card for the retailer of your choice online. Recently, major IT firms like Microsoft have begun selling digital goods like games and software in exchange for bitcoin. Like this Minecraft server, others are leveraging the bitcoin network to fuel their virtual money.
- Get Airline Tickets
Those with travel plans may use Expedia to reserve a room and CheapAir to purchase airline tickets. Dealerships for automobiles are also joining the movement; although it is not currently possible to pay for gas with bitcoin, there are technologies in development that will make this possible. And if you have that much bitcoin, Virgin Galactic will transport you to Space, too. And I think it sums it up well! No, it doesn’t, since this is only the beginning of the acceptance of bitcoin by merchants throughout the world.
- Buy A Car
Need a car? You can try using Bitcoin to purchase a car. Companies like AutoCoinCars and BitCars welcome bitcoin payments. Bear in mind that Tesla does not support Bitcoin transactions. Many people think you can purchase a Tesla with Bitcoin since the company’s owner, Elon Musk, has wavered on the issue. Although Tesla eventually plans to accept more cryptocurrencies for purchases, for now only Dogecoin is accepted.
- Enjoy A Cup Of Coffee
Indeed, even a cup of coffee can be purchased with Bitcoin these days. The world’s largest coffee retailer, Starbucks, will accept Bitcoin payments at its registers in 2021 thanks to a partnership with Bitcoin wallet provider Bakkt. Users may easily pay with Bitcoin at any Starbucks by linking their Bakkt digital wallet to their Starbucks app.
- Electronics
Want to buy a new laptop or a mobile phone? Tech things are available for purchase with Bitcoin. Newegg is one of the largest electronics retailers that accept Bitcoin as of this writing. BitPay, a cryptocurrency payment processing app, is accepted for payment at Newegg, along with Bitcoin and several other altcoins. However, customers should be aware that Newegg does not offer refunds for BitPay transactions.
Crypto Emporium is just one of many online merchants that accept Bitcoin as payment. In this marketplace, you can even trade in your old electronics for cryptocurrency.
How To Buy Things With Cryptocurrency
Sending and receiving bitcoin may now be done with the tap of a smartphone app. The specifics of starting the payment depend on the program you choose, but in general, this is how it goes down.
You may convert fiat cash into cryptocurrency at an exchange that complies with regulatory standards. If you require it, it will also provide you with additional functionality. Your wallet is required for all financial transactions. You have to undergo the following steps to make a purchase using cryptocurrency.
- Launch your wallet app
- Press the “Send Payment” button
- Just type in the money you want to pay.
- Simply enter the recipient’s QR code or wallet address.
- Press the Send button.
To be paid, you would:
- Launch your wallet application.
- Click a button labelled “Receive Payment”.
- Select an option to “Share Address” or “Share”
- When the funds show in your bank account, you should accept them.
Ending Note
You can now pay for global citizenship services using Bitcoin, which is convenient since they are the key to lawfully evading tax and regulatory responsibilities and protecting your riches in the contemporary world. Several traditional businesses and shops now welcome cryptocurrencies as a form of payment. Individuals that do so often use point-of-sale terminals connected to a preferred method of electronic payment. A common practice is to display signage at the front desk, on storefront windows, and on cash registers indicating which cryptocurrencies are accepted.
