Common Purchases: 5 Things People Frequently Buy With Cryptocurrency
Since Bitcoin was launched in 2009, the global adoption of cryptocurrencies has continued to ramp up. Statistics show there are over 425 million users globally. This clearly indicates that cryptocurrencies have grown beyond being a store of value and acquired transaction processing capabilities. With many businesses now accepting crypto as payment, this crypto for beginners guide reveals an array of items you can buy online using digital assets.
Cryptocurrency for Transactions
The expanding adoption of cryptocurrencies by mainstream retail and consumer companies has increased their appeal as a means of exchange. New innovations like the Lightning Network have upped the number of transactions per second for crypto networks.
Moreover, the public listing of crypto exchange Coinbase, positive mentions by policymakers and regulators, and the recent approval by the U.S. Securities and Exchange Commission (SEC) of spot Bitcoin ETFs are more proof of cryptocurrencies’ potential. From buying groceries, a crypto gift card, or a Lamborghini, you’re no longer confined to the variety of things you can do with your cryptocurrencies since many retailers are now accepting crypto as payment.
The concept of cryptocurrency payments has, for a long time, been associated with online crypto gaming. Users who visit crypto gaming platforms like RollerCoin have been playing and mining free Bitcoins in the process. Crypto owners no longer have to depend solely on online crypto wallets to execute cryptocurrency-based transactions. Partnerships between online payment processors like Visa and MasterCard have made available crypto debit cards that enable users to spend their digital assets seamlessly. We present a list of the top 5 things people frequently choose to purchase using cryptocurrency.
1. Watches and Jewelry
Luxury items top the list of popular items cryptocurrency owners are buying with crypto as many online dealers and mortar and brick-store owners continue accepting crypto as payment. The dalliance between crypto and luxury watches significantly surged just before the 2022 crypto crash as the demand for luxury watches grew exponentially. Luxury watch retailers experienced an insane demand as people saw both crypto and watch brands as investments they would later sell in the secondary market. Crypto owners can also purchase high-end jewelry like white gold or diamonds, ornaments, and other precious metals from many online stores accepting digital payments. Shoppers enjoy buying jewelry with cryptocurrency because the process is simple and straightforward.
2. Luxury Clothing and Bags
Another option you can explore when thinking of spending your cryptocurrency is buying luxury clothing since many leading brands and department stores are accepting crypto as payment. Moreover, there are clothing stores that receive payments via online crypto wallets, making the entire shopping experience easier and more products accessible.
Men can now buy high-quality clothes from Lacoste, Ralph Lauren, Hugo Boss, True Religion, Gucci, and Neil Barrett without the hassles of exchanging their crypto for fiat currency. Clothing stores accepting crypto as payment also stock a wide selection of women’s brands like Prada, Alexander McQueen, Burberry, Balmain, and Versa. Whether you’re looking for designer coats, jackets, tops, skirts, jeans, dresses, or leather bags, you’re good to go with your crypto holdings.
3. Electronics
You now have every reason to replace your burning question, “what can you buy with cryptocurrency?” with “what can’t you possibly buy with cryptocurrency?” That’s because electronics are also in the list of items available for crypto owners on various leading stores. Rather than continue holding Bitcoin in online crypto wallets or cryptocurrency interest accounts, you could easily purchase your desired electronic item. The most common items people purchase using crypto include the latest TV sets and home cinema theaters.
Considering that most of the latest electronics are relatively expensive, buying them from stores that accept crypto as payment becomes a better option. Buyers using cryptocurrencies end up saving on their purchases since they don’t incur any processing fees or deal with foreign transaction fees. Furthermore, as soon as you make your payment using crypto, an indelible transaction is recorded on the blockchain, leaving no room for doubts or disputes at any time in the future. Most online electronics sellers that accept crypto as payment stock the latest soundbars, projectors, smart TVs, and cameras, among other desirable items.
4. Gaming Services and Accessories
Crypto gaming enthusiasts were among the first people to enjoy the seamlessness afforded by using cryptocurrency as a form of payment. Many popular online games featuring play-and-earn capabilities that are also considered digital collectibles are currently high-value items. There are many popular games you can buy with Bitcoin and other cryptocurrencies. Moreover, the availability of online instructions for beginners means that even newbies can learn their desired game and start earning in-game items as collectibles or receiving cryptocurrency payments.
5. Crypto Gift Cards
Are you planning to give someone a gift for some occasion, and you’re not sure what they can truly appreciate? The easier way to deal with this dilemma is to offer them a crypto gift card. Many platforms accepting crypto as payment can let you buy a crypto gift card. Select stores have partnered with many leading brands, so they allow users to convert their favorite crypto coins into a crypto gift card.
Instead of wrapping up something that you’re not sure will be appreciated, you only need to purchase and present a crypto gift so they can get themselves something that will truly thrill them. The best part of it is that you don’t have to leave your home to get a crypto gift card; there are numerous online stores offering this service. Moreover, offering your gift in the form of a card ensures the gift retains its value no matter how long the recipient takes before redeeming it.
Conclusion
This list of goods, services, and experiences you can purchase from the many establishments accepting crypto as payment is not exclusive. There are now hundreds, if not thousands, of merchants accepting this form of payment, mainly because more people are finally becoming comfortable with the concept of virtual money. Whether they’re groceries, luxury items, consumer staples, event tickets, or insurance, the list of items you can buy with different cryptocurrencies continues to grow.