How to spend Bitcoin and other Cryptocurrencies on everyday purchases?
Bitcoins had their origins over 20 years ago. Despite this, there are still very few retail outlets requiring crypto to pay. Many methods to use crypto have been discovered, allowing anyone to buy bitcoin online for free. Learn how the cryptocurrency bitcoin can be used for daily purchases.
How to store and spend Bitcoin?
Online exchange platforms like Coinbase and Binance offer many options for buying or selling bitcoin if it’s about to cost you something much more significant than your online portfolio. Fortunately, like traditional (fiat) money, the choices are plentiful. You’ll be able to deposit your cash in bank accounts. You can pay online via PayPal, bank transfer etc. there. The bank can accept debit cards also. You can always withdraw the money into a wallet and put the money there for the proper purpose. The storage of crypto is also done by using the wallet – but it must also have digital assets to be stored.
Top 4 ways to spend Bitcoin (And Other Cryptocurrencies)
When bitcoin first became available, they were called peer-to-peer digital currency. Currently, Bitcoin has been traditionally regarded by investors as an investment asset, which investors buy with an expectation it will grow over the years. But that does not mean bitcoin won’t remain a digital currency that makes everyone worldwide pay through bitcoin. Almost everyone who uses Bitcoin makes daily purchases and some even make crypto payments in online casinos. We will discuss the following ways of using cryptocurrency:
Shop at Crypto-Friendly Retailers
Aside from crypto stores, many online vendors accept crypto through crypto merchant payment services like BitPay. According to data from SimilarTech, more than 13,000 merchant websites and sites accept Bitcoin payments. These include companies such as Lush, Microsoft Namecheap Overstock and Dallas Mavericks. The popular online store hosting platform Shopify allows cryptocurrency payment. By adding the feature, Shopify users can accept bitcoin and various other digital currencies.
Buy Gift Cards With Bitcoin and Pay Using Gift Cards
Alternately, you can buy gift cards using bitcoin through platforms including Gyft. The system allows users to purchase and redeem gifts from retailers using cryptocurrency. This gift card can be bought either in-store or online. While this might not be an option at all, this may still be one of the best ways to spend bitcoin in the early days of digital money.
Shop at Crypto-Only Retailers
The fastest way to use bitcoin is to shop online at crypto retailers targeting specific cryptocurrency users. Examples are auction platforms Bitify and 21X art/merchant sellers and OpenBazazar decentralized marketplaces. They often hold this money in cryptocurrencies. Unfortunately, crypto-only retail is very rare.
Pay using a Crypto Debit Card.
The cheapest way to pay Bitcoin is through a bitcoin debit card. Crypto debit cards like the BlockCard Visa debit cards allow crypto-based cardholders to use digital currencies and funds for various activities. Crypto debit cards allow Bitcoin users to spend crypto anywhere on their own as quickly as fiat.