Top-5 Ways to Spend Your Crypto: How You Can Do It Effectively
Some crypto users solely want to keep their cryptocurrencies for investing purposes. Still, the rising popularity of digital currency has allowed multiple industries to utilize it as a payment method. For those aiming to spend their cryptocurrencies, here are five of the top ways to do so and how to use them efficiently.
Crypto Betting
Online casinos and sportsbooks have been actively keeping up with payment trends. After implementing digital wallets for faster transactions, many have started accepting cryptocurrencies for deposits and withdrawals. Some operators have also decided to release a platform solely for crypto users, like a Bitcoin casino, where players can easily connect their Bitcoin wallet and bet the crypto they own.
In crypto casinos, players can bet with their chosen crypto and receive a crypto payout when winning. Users can shop around for the best offer as more operators start offering crypto platforms. One of the most important things to consider is the bonuses and offers the operator provides, as they often reward crypto. Choosing the right welcome bonus would be crucial. They’ll be a great way to lower the risk of losing too much when testing a new site.
Besides the promotions and bonus offers, players should also look into the list of cryptocurrencies the operator accepts. Most online casinos and sportsbooks that accept fiat and crypto payments only take popular cryptocurrencies, such as Bitcoin, Litecoin, Tether, and Ethereum. If you already have a crypto you’re comfortable using, check if the site accepts it and if the operator has any specific transaction fees attached.
Online Retail Shopping
Online shopping makes shopping much easier, and several online shopping platforms now accept cryptocurrencies. The options might still be limited compared to traditional payment methods, but you can still get more than one retail platform accepting cryptocurrencies.
One of the more well-known platforms is Overstock, an online retailer that provides various things, such as furniture and electronics, and accepts Bitcoin as payment. Like other online shops, you can browse the available items and pay using your crypto wallet.
Newegg is also an online electronics shop that takes Bitcoin as payment. Starbucks has also allowed you to shop using your cryptocurrencies. Besides the three, there are also AMC Theaters and AT&T.
Finding an online retailer accepting cryptocurrencies can be easier than finding a land-based one, but that doesn’t mean they’re unavailable. Some land-based retailers have also started accepting crypto payments, and most will let you know by putting a sign on their storefront saying they’re accepting crypto payments.
Accommodations and Travel
For crypto users who often travel for business or leisure, several travel platforms have decided to cater to crypto users for convenience. Travala is one example, allowing users to book car rentals, hotels, and flights on one platform and pay their bookings with cryptocurrencies. Cheapair has also established itself as one of the crypto platforms for travel bookings. Other alternatives include Bitcoin.Travel and Destinia.
Paying for travel needs using cryptocurrencies can have multiple advantages. Most people use credit cards when booking flights and hotels, which can come with an extra fee. Although crypto transactions also charge users transaction fees, they’re cheaper than credit cards.
Another plus point is how changes between fiat currencies can affect accommodations and flight prices. By using cryptocurrencies, users can gain a more stable exchange rate. Although the law of crypto use for each country differs, cryptocurrencies are less bound by national borders, so they’re ideal for those making payments for international travel.
Food and Groceries
Buying food and groceries now has become much more advanced. Businesses now accept multiple payments, so customers can quickly pay using any preferred method.
Restaurants and Food Businesses
In the case of restaurants and food businesses, many of them already accept cryptocurrencies as payment. Pubkey, the bar in Manhattan, is one of the more well-known restaurants because Trump used Bitcoin to pay for his food and drink at the bar during his second campaign. Several restaurants owned by Nick Pappas, including Beachwood Seafood Kitchen & Bar and FlameStone American Grill, have already accepted Bitcoin since 2014, taking other cryptocurrencies, including Ethereum and Dogecoin.
Several renowned food chains have also provided a way for customers to pay for cryptocurrencies, although this only applies to specific countries. Burger King takes several cryptocurrencies, including Bitcoin, Dash, Binance Coin, Litecoin, and Tether. KFC Canada also has a special limited-time offer called the Bitcoin Bucket, which customers can buy using Bitcoin and have the food delivered to their homes.
Groceries
Whole Foods, on the other hand, accepts Bitcoin, Litecoin, and the Gemini Dollar. You can purchase your Whole Foods groceries through the Flexa app using your crypto if you want to buy from them.
You can also shop at Walmart using cryptocurrencies by buying Walmart gift cards through platforms like BitPay. Therefore, you can still shop using your cryptocurrencies even if the store doesn’t directly accept cryptocurrency payments.
Entertainment
Other entertainment industries have joined the crypto trend besides gambling. Although they’re still uncommon, crypto users can now find multiple ways to purchase games and even streaming platform subscriptions using cryptocurrencies.
Games
As cryptocurrencies and the gaming industry grow, developers have started finding more ways to incorporate digital currency into the game. Now, you can easily find games taking cryptocurrencies as payment for in-game items, upgrades, and skins, with Bitcoin and Ethereum dominating the market.
Some of the games that started making crypto a big part of their structures include:
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Sandbox
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Axie Infinity
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Decentraland
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ENJIN
Sandbox and Axie Infinity are different cases. Instead of letting players purchase items using cryptocurrencies, they allow players earn crypto through completing tasks, missions, and winning battles.
On the other hand, Decentraland opens a path for players to engage more with the game. It’s a virtual world where you can sell, buy, or make virtual real estate using the platform’s native token, MANA. ENJIN is a blockchain gaming platform that allows developers to tokenize in-game items with Enjin Coin as their base.
NFTs also took over the gaming industry a while back. Blockade Games is one of the examples that had integrated blockchain into its game, allowing gamers to buy NFTs using cryptocurrencies for their in-game items.
There are several ways to buy your favorite games using cryptocurrency. Each platform has a specific way on how you can make transactions using cryptocurrencies:
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Steam: Purchase a gift card through services like BitPay, which takes crypto payment for Steam game purchases.
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Humble Bundles: Direct crypto purchase is available on the site.
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Epic Games Store: Seasonal crypto promotions that allow users to transact using crypto through third-party services.
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GOG Galaxy: Seasonal crypto promotions
Streaming Platform Subscriptions
For those looking to purchase subscriptions using cryptocurrencies, finding gift cards you can purchase using crypto can be the easiest way. Bitrefill allows crypto users to buy gift cards for Amazon Prime Video, Hulu, and Netflix to subscribe to their favorite platforms using crypto.
FAQ
Can You Use Crypto To Buy Anything?
Depending on the merchant, you may not be able to buy the product they’re selling. More businesses started accepting crypto payments, so check with your merchant to know for sure.
Can I Pay Netflix Subscriptions Using Crypto?
Several services like BitPay sell gift cards for streaming platforms, including Netflix, which you can buy using cryptocurrencies.
How to Pay With Crypto At Starbucks?
Starbucks works with SPEDN and Bakkt App to make crypto payments. You can use either of the two apps to spend your cryptocurrencies when buying a Starbucks product.