You can invest in crypto, but because it is digital money, you can also spend it. With each passing day, it’s getting easier to spend your crypto as an increasing number of businesses enable customers to use it to buy and sell goods and services.
So, for the time being, let us put on our consumer goggles and discuss how to spend your crypto.
How to Use and spend crypto?
Paying with crypto is similar to sending an email in several ways, except that instead of sending a message to an email address, you're sending money to a crypto address.
One of the advantages of using crypto is that you do not have to provide as much personal information. If you are purchasing physical things, you only need to provide your name and address. If it's a digital item, your email address is generally sufficient, and if it's a donation, you may not need to enter any information at all. You can also spend your crypto via crypto debit or credit cards, which leads us to our next point.
Debit Cards/Prepaid Cards and Apps for Crypto
A cryptocurrency debit card is by far the simplest and most convenient way to make transactions with crypto. These cards, which can be obtained through major cryptocurrency exchanges and other providers, also allow the customer to withdraw cash from ATMs.
Here's a short rundown of cryptocurrency-compatible debit cards:
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CoinMENA’s Visa Card:
The fastest growing crypto exchange, CoinMENA, allows you to use their VISA card at millions of merchants around the world. This card is totally FREE. CoinMENA will not charge any admin fee or processing fee. You can join the waitlist here to be among the first to receive the CoinMENA VISA Card.
Supported by Google Pay and Samsung Pay, this card from Binance gets you up to 8% BNB cashback every time you make an eligible purchase. With free ATM withdrawal, no foreign exchange fees and annual fees, you can hold crypto in your Binance Funding Wallet and exchange only when you're making payments. You can use your Binance Card in over 60+ million merchants worldwide, no need to pre convert your crypto.
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Bitstamp:
Another virtual wallet solution that also provides a physical prepaid debit card that can be funded with bitcoin.
- Bitpay
With this Visa-branded card, you may load bitcoins directly from your virtual wallet. After that, you can withdraw cash or use the card at retailer stores. BitPay makes it simple to spend cryptocurrencies without going via an exchange. Shop directly with businesses that take Bitcoin and other cryptocurrencies. Purchase gift cards for popular merchants such as Amazon and Walmart with cryptocurrency. Sign up for the BitPay cryptocurrency debit card to spend cryptocurrency like cash with your favorite brands and businesses.
- PayPal
PayPal said that consumers in the United States can now make payments using cryptocurrencies. Checkout with Crypto is the name of this new feature. Checkout with Crypto converts your cryptocurrency to fiat currency (national currency, such as the US dollar) during the checkout process. The coin conversion spread will then be displayed to you. This service comes with no additional transaction fees.
What to Buy With Crypto?
At first, there was pizza. Nowadays, you can spend your bitcoin on much more than pizza, in a wide range of online and offline locations. While there are longer lists available, we hope this highlights the variety of possibilities available. From groceries to luxury items, we’ve created a complete list of what you can buy with crypto today. Start spending and living on crypto.
- Microsoft: You can truly use Bitcoin to fund your Microsoft account. These funds can only be used in the Windows and Xbox online marketplaces. They are not valid for purchases from the Microsoft online store.
- Shopify is a popular e-commerce platform for online retailers and retail Point of sales system.
- Watches World is a website where people can buy, sell, and trade luxury watches and other things. Customers can pay for their luxury watches or jewelry using over 100 different cryptocurrencies (in addition to fiat). Watches World offers 8 Showroom locations across four continents in addition to its online store. There are stores in Paris, London, Prague, and Dublin in Europe, a store in Miami in North America, Sao Paulo in Brazil, Dubai in the United Arab Emirates, and a showroom in Hong Kong in Asia.
- Cafes & Restaurants in UAE: Dubai's Bake N More café, a one-of-a-kind factory and retail cafe, has started accepting bitcoin payments for its fresh baked goodies with no transaction cost. Mixin Network manages the café's open-source payment network, which allows clients to pay with bitcoin, ethereum, tether, and three other major cryptocurrencies.
- Airlines: Emirates Airlines, the United Arab Emirates' premier airline, has announced that it accept Bitcoin as a payment option. As part of its aim to engage with customers, the airline intends to leverage revolutionary digital technologies such as blockchain, metaverse, and cryptocurrency.
- Real estate developer: Damac, a luxury real estate developer based in Dubai, United Arab Emirates, has announced accepting cryptocurrency payments.
- McDonald’s: In El Salvador, you can use your crypto to buy meals. McDonald's has begun accepting bitcoin as payment in El Salvador, which was the first country to legalize the cryptocurrency as legal tender.
- Twitch: As a content creator in this app, you may accept Bitcoin and other cryptocurrencies as Twitch payments, such as Bitcoin, Bitcoin Cash, Litecoin, and XRP - NOWPayments allows you to accept 50+ assets from your subscribers, and your donations are promptly converted into Bitcoin and sent to your wallet.
- Tesla Cars & merchandise: Tesla, the electric manufacturer led by billionaire Elon Musk, has begun to allow customers to purchase brand products using Dogecoin, a cryptocurrency that began as a joke.
- Grocery Delivery: YallaMarket, a UAE-based grocery delivery platform, now accepts cryptocurrency payments for client orders in cooapreation with CoinMENA crypto exchange.
