Did you know that around 106 million people worldwide are now using crypto? If you’re considering joining their ranks, you likely have wondered what you can do after making the investment. What can you buy with cryptocurrency, anyway?
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The answer to this question is both simple and complex. You can buy just about anything with Bitcoin, but you can also only do so if you know how. Read on to learn what you can do to make spending Bitcoin easier regardless of where you plan to cash out.
What Can You Buy With Cryptocurrency Online?
People have been spending crypto online for years. This makes sense when you consider the question, “what is Bitcoin?’
Bitcoin is a purely digital currency that exists on a decentralized network called the blockchain. It has no physical form and therefore was difficult to spend in stores for most of its life. Instead, it was used to make online transactions securely, safely, and anonymously.
You can buy virtually anything sold online with Bitcoin. Common purchases include goods and services from independent vendors that the buyer wants to keep personal information from. You can buy everything from jewelry to cars to business development software from these vendors.
Many people also use cryptocurrency for online gambling since internet-based casinos will sometimes try to steal information. Using cryptocurrency keeps your personal and financial information out of the wrong hands.
It also stops unauthorized users from hacking into poorly-secured websites and stealing your information. There won’t be anything to take. Since many online casinos operate abroad with different licensing, this helps gamblers feel safe and secure.
Can You Spend Crypto In Stores?
In recent years, many in-person retailers have begun to offer Bitcoin payment methods. This is because major credit card retailers like Visa and Mastercard have begun to create Bitcoin debit cards. PayPal also allows you to store your funds as crypto and you can spend it via PayPal.
But where is bitcoin accepted in person?
These debit cards are useable at any brick and mortar venue that accepts their carrier. You swipe the card as you would any debit card and the corresponding funds are removed in Bitcoin. The retailer is paid in the fiat currency of that same amount.
This is a simple process that protects both the buyer and the seller. You don’t need to worry about financial information being compromised. The retailer doesn’t need to accept the risks that taking crypto presents.
It’s a win-win situation. You can purchase anything in stores that accept your debit carrier. This includes groceries, home supplies, household items, books, games, toys, and more.
The Benefits of Paying in Bitcoin
Some awesome reasons to use Bitcoin in both online and in-person transactions include:
- Security of personal and financial information
- Protection of buyer/seller identity
- Convenience and simplicity
- The lack of conversion rates (in transactions abroad)
- The ever-increasing value of Bitcoin (making your money worth more over time)
Cryptocurrency is an awesome choice for all consumers. Since it’s becoming more popular in recent years, it’s only a matter of time before it’s a solid first choice for many people.
So, what can you buy with cryptocurrency? Honestly, the sky’s the limit!
Now that you know how you can spend Bitcoin, it’s time to learn more about using your digital eWallet. Check out the ‘finance’ tab on our home page to learn more about investing in and spending cryptocurrency in 2022.