We all are aware of the significant value cryptocurrencies offer. They are great investment tools and add significant value to the investment, but a few questions arise, how to utilize the benefits of cryptocurrency in our daily life? Have you ever thought of using cryptocurrency just as fiat currency to make sales and purchases? Are you willing to use cryptocurrencies in everyday life like other fiat currencies? But have no information on how and where you can use it. This article will guide you about places where you can use cryptocurrency easily. It will help you discover ways to use cryptocurrencies in your everyday purchases.
Let us start with a brief introduction to cryptocurrencies, learn the importance of it, and ways to buy Bitcoin Cash and use cryptocurrencies in everyday life.
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Introduction to Cryptocurrency
Cryptocurrency has emerged as the world’s famous trading asset. There are thousands of different cryptocurrencies in the cryptocurrency market in today’s world, and new ones are being introduced with each passing day. The first cryptocurrency, Bitcoin, was introduced in 2008. The value of Bitcoin has tremendously increased over time, and today, the value of 1 Bitcoin is more than 40000 USD. The massive increase in Bitcoin’s value welcomed more cryptocurrencies in the financial market.
Following these steps, Ethereum was the second cryptocurrency in the market, followed by a number of cryptocurrencies and other digital assets like NFTs that now exist and hold great value in the market today. As per the data collected in 2020, there are more than 300 million cryptocurrency traders around the world and 18000 businesses that are investing their amounts in purchasing these digital assets. As cryptocurrencies are based on blockchain technology, they offer a secured and decentralized environment for investment and a great chance to earn profits over the investment amount in the marketplace.
Initially, cryptocurrencies were only used as digital trading instruments. They were stored in digital wallets that only permitted purchasing, selling, or exchanging cryptocurrency. Cryptocurrency trading is a competitive and accessible market conducted through internet-based platforms as it is a digital currency. The trend of investing in cryptocurrencies has surged in recent times as trading and utilizing cryptocurrencies is now simplified compared with the process some time ago. In addition to trading, now you can use your cryptocurrencies in various ways to make purchases using Bitcoin Cash with crypto credit cards published against your digital wallets.
Using Cryptocurrencies Everyday
The concept of using cryptocurrencies in day-to-day transactions is increasing. Not every physical shop or online store offers the facility to make purchases using Bitcoin, Ethereum or any other cryptocurrency. Currently, a few cryptocurrency retailers offer to use cryptocurrency for purchases. Some games like Sandbox also allow in-game purchasing using cryptocurrencies. Although the trend is increasing, it is expected that 2022 and upcoming years will open more frequent use of digital currencies.
Let us see some user-friendly ways to use this secure and transparent system of cryptocurrencies in everyday purchases.
- Using a Cryptocurrency Credit Card
Crypto credit cards are one of the easiest ways of using cryptocurrencies every day. These cards are similar to your credit and debit cards, and you can use them anywhere where bank cards are accepted. The crypto credit cards facilitate spending cryptocurrencies anywhere around the world as easily as fiat money. Binance cards, Monolith, Nexo Card, Uphold, and Crypterium are some of the famous credit cards from the cryptocurrency market.
- Shopping At Crypto-Friendly Retailers
In today’s marketplace, many retailers have added cryptocurrency as a payment method on their online or physical stores. Big names in e-commerce platforms, Shopify has recently entered the list of crypto-friendly retailers. As per the statistical analysis, more than 133000 stores are crypto-friendly and offer facilities to use cryptocurrency or fiat currency as per the buyer’s choice. Such stores accept payments in cryptocurrency using BitPay or BTCPay Server, the crypto merchant payment services.
Leading companies like Alphabet Inc, the Dallas Mavericks, Microsoft, Overstock, and Lush have announced plans to invest in their stocks using cryptocurrencies, boosting a crypto-friendly environment for traders globally.
- Shopping At Crypto-Only Retailer
The number of crypto-only retailers in the market is relatively low at the moment. Still, the number of stores and companies that accept cryptocurrencies for transactions is increasing with each passing day. The list of crypto-only retailers includes Bitify, merch seller 21X, the art, and the specifically designed decentralized marketplace named OpenBazar. These places offer the cryptocurrency community a chance to efficiently use their digital assets to purchase products of their choice easily without converting or converting cryptocurrencies into fiat money and transferring it to bank accounts before use.
- Using Gift Cards Bought With Cryptocurrency
Purchasing gift cards using cryptocurrencies is one of the most popular ways of using cryptocurrencies in daily life. The facility emerged when the trend of using cryptocurrencies except for trading was fairly low. Cryptocurrency-friendly platforms like BitRefill or Gyft offer facilities to purchase gift cards using cryptocurrency and redeem them at online and physical stores such as BestBuy, Starbucks, or Amazon. Gift cardholders can buy any item of their choice from these stores.
It has become quite easy to use cryptocurrencies such as Bitcoin, Ethereum and Litecoin to buy your favorite services or goods. You can even buy Dallas Mavericks game tickets with crypto. How cool!
Let us now list some of the popular retailers and brands where you can easily spend your cryptocurrencies and make purchases.
- Lottery Tickets
- Home Renovations
- Real Estate
- Burger King
- com for Home Goods
This list goes on and on. El Salvador has become a hotspot of cryptocurrency payments, and it is now regarded as “Bitcoin Beach.” You can now even use Bitcoin to pay taxes in El Salvador. More than 1500 Bitcoin ATMs have been installed all over the country to facilitate cryptocurrency users.
As cryptocurrency grows, the mainstream acceptance rate will grow exponentially and the world will keep accepting its benefits.