Trading cryptocurrency is widely talked about in techie, investment-savvy circles for its earning potential. Many are drawn to investing in Bitcoin and other cryptocurrencies because of the possibility to reap profit at a virtually faster rate compared to investing the traditional way. But once you’ve already amassed a good profit, where can you spend cryptocurrency?
Storing Your Crypto
There used to be very few options where crypto coins could be used, but as this type of currency increased in popularity, this payment method also got accepted more and more. Some online stores and sites that sell software, hotel bookings, gift certificates, even domain names for websites welcome Bitcoin payments. There are also a number of organizations that receive donations in the form of crypto coins.
But what is most important before deciding where to spend cryptocurrency is to figure out where to store this. Your online wallet of choice, which will hold your crypto coins, is crucial when you pay with cryptocurrency. If your wallet is accepted in a certain store, only then can you use your crypto coins. It’s much like a debit card. If your merchant or the physical store does not have the capacity to process debit or credit card payments, then you could not use your card or bring home your purchase unless you revert to the good, old cash transaction.
Use Cryptocurrency On Payment Processing Systems
Now, what are the ways in which you can pay cryptocurrency? Let’s start with the following payment processing systems that accept Bitcoin:
- Shopify -- Popular among small businesses, Shopify processes Bitcoin payments.
- Square -- This is another well-used payment app that gives users the means to pay for product and service offerings with crypto coins.
- Stripe – This payment processor affiliates with companies and businesses and helps the latter setup cryptocurrency payment options on their websites.
Other Payment Options
The other ways to pay using cryptocurrency aside from using the payment processors mentioned above are the following:
- Use your cryptocurrency wallet to pay – Once at an online store’s checkout, sign in to your crypto wallet account, which will then be linked to the store’s website, and then confirm your order. Check back into your wallet to see that the correct amount has been debited for your transaction. You should be receiving a notification from your online store and wallet that a payment has been made.
- Use a QR code – Other stores or websites give you a QR code which you can scan at check out. This leads to the Bitcoin address and has the transaction amount programmed into the code.
- Pay via a Bitcoin address. This address is something you can copy or type into your cryptocurrency wallet as the receiver of your payment. Check it twice to be sure that you have the correct address and the correct amount keyed in before you complete your transaction.
Using Debits And Prepaid Cards
With that laid down, how do you get started so you can spend your cryptocurrency? You could consider having a debit or prepaid card where your crypto coins can be loaded into and converted to cold cash. This way, you can maximize the use of your cryptocurrency. Here are a few debits and prepaid cards you can go for.
- CoinsBank – If you use this card, your Bitcoin will automatically be converted into a certain currency, depending on the country where you are in. Fees apply for the different card variants that CoinsBank offers.
- Xapo – Through this card, you can pay online or retrieve cash from your Xapo account. You can easily view and keep track of your transaction history in its app.
- Coinizy – Paypal can be used with this Visa card. You may also fund it with Bitcoins.
- Shift Card – This is a Visa card that can be linked to your cryptocurrency wallet.
- Uquid – If you have a Uquid account, then you can have this card and use it frequently. Payments through Uquid can be in GBP, EUR, or USD.
- Cryptopay.me – Conveniently applicable to GBP, USD, and EUR, Cryptopay.me is cost-efficient and very flexible. It comes with an actual card and a virtual counterpart.
- SatoshiTango – What this card does is it makes you purchase Bitcoins for transferring into a debit card you can use.
- SpectroCoin – This is a prepaid and debit card where Bitcoins can easily be cashed in using any ATM. Whether in GBP, EUR, or USD, SpectroCoin works.
- Wirex -This card is notable for its online banking app that’s dedicated to holding bitcoin and then converting it into actual dollars.
- Bitstamp – This is a prepaid debit card where you can keep your bitcoin and use it as cash.
- Bitpay – This is a Visa Card from where you can withdraw cash. Bitcoins saved in your cryptocurrency wallet may be loaded into this card.
- TenX – This card also has the basic features as above, especially if you need to convert your Bitcoin into cash.
- Polybius – This is a card that accepts a range of crypto coins, not just Bitcoin.
Where To Use Your Crypto Coins
Finally, where can you spend cryptocurrency? Below are some exciting possibilities where you can use your crypto coins, whether Bitcoin or the other cryptocurrency types.
- Microsoft – Your Microsoft account can be loaded with Bitcoin, which you may use in Windows and Xbox online stores.
- EGifter – If you are fond of gift cards or gift certificates, eGifter is a website that accepts Bitcoin payments. What an exciting way to gift during the holidays!
- Expedia – Did you know that you can pay for hotel bookings with Bitcoin? You can check it with Expedia.
- Virgin Galactic – An advocate of space travel, Virgin Galactic accepts Bitcoin payments when you purchase their products. They’re all in the same league – virtual and quite out of this world, but possible.
- Donations to Save the Children and Wikimedia – Save the Children works to eliminate malnutrition and other problems faced by children worldwide, and it has opened up to the world of cryptocurrency for mobilizing donations. Wikimedia, on the other hand, also welcomes cryptocurrency donations.
- Overstock – Shopping in Overstock is possible with Bitcoin. This online store was one of the first to make Bitcoin payments a brilliant possibility.
- NewEgg – If you are tech-savvy, NewEgg allows you to purchase gadgets with Bitcoin.
- Fancy.com – If you love curated social media feeds, you will love shopping at Fancy. If you love Bitcoin, you will love Fancy all the more since it also allows you to pay with cryptocurrency.
So, where can you spend cryptocurrency? The possibilities are endless. You just have to look far and wide, take note of those that accept this novel form of commerce, and start shopping. What’s also commendable is that Bitcoin is making donations to charity much, much easier nowadays. One transfer from your Bitcoin wallet can go a long way to help a worthy cause. Find out more on where can you spend cryptocurrency here!