One of the reasons why most people have shunned cryptocurrencies is because they don’t understand how and where to use them. Unlike in the past, cryptocurrencies have become popular thanks to their widespread adoption and the fact that merchants are increasingly accepting them as a mode of finalizing transactions.
While there are those that buy cryptocurrencies with the aim of profiting from them on price swings, there are various use cases that one can leverage and still be able to generate some value.
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Once you have a digital currency, where do you spend it?
1. Bitcoin Shopping- Overstock.com -Shopify
A number of retailers have started accepting bitcoin payments.
Overstock.com became the first online support to allow customers to pay for various items from laptops to TV sets using bitcoins. In addition to Bitcoin, the online store also accepts Ethereum, Litecoin, and Dash.
Shopify is an e-commerce platform just like eBay and Etsy that allows people to set up online shops to sell products. A number of Shopify merchants also do accept bitcoin payments.
2. Buy a Car in Bitcoin
Buying a car with cryptocurrencies is slowly becoming a reality. Alza an e-commerce platform operating from the Czech Republic has started listing Tesla electric cars for sale with bitcoin being listed as a payment option. Several purchases have already been made.
3. Making Travel Arrangements- Expedia
Since 2013 online travel booking agency, Expedia has been accepting bitcoin payments for hotel bookings. The travel agency has teamed up with Coinbase to facilitate bitcoin payments. However, the option is only available for hotel booking, waiting to see if it will be expanded to other offerings.
4. Purchase Gift Cards-gifted
If you wish to use bitcoin to purchase gifts, then eGifter should be your one stop shop as it currently supports the cryptocurrency as a mode of payment. The mobile app makes it possible to purchase gift cards from Amazon to JCPenney and Home Depot among other retailers.
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5. Real Estate Purchases
Cryptocurrencies also appear to be finding their way into the real estate industry. Some Real Estate firms have started accepting bitcoin payments as a mode of settling large transactions. Others also allow tenants to make rental payments with bitcoins. The Kalinka Group in Moscow, for instance, sold a mega-mansion last year in Bitcoin.
6. Book Airline Tickets with CheapAir
CheapAir joins a growing list of travel agencies that accept cryptocurrency payments for tickets. Once you choose, your flights in the company’s website, you will be provided with payment options of which BTC is one of them.
The travel company has been accepting crypto payments since 2013, and such amounts are finalized through Coinbase wallet.
7. Buy Stadium Tickets
NBA Franchise Dallas Mavericks has confirmed that they will start accepting bitcoin and Ethereum payments for tickets beginning the 2018-209 season. There are also plans to include other cryptocurrencies going forward.
8. Pay For Beer
In Australia, some bars accept Bitcoin payments for settling bills. Some of the bars have been accepting BTC payments since 2013 a trend that is gaining momentum as more people embrace digital currencies.
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Cryptocurrencies are becoming popular by the day thanks to their attractiveness as an alternative form of money. The number of places where one can spend use them to buy goods and pay for services should continue increasing as more people embrace them as the currency of the future.
Stable tokens with low transaction fees should continue eliciting strong demand as a means of payment going forward. However, price swings that affect the value of cryptocurrencies because of high levels of volatility pose the biggest threat, to cryptocurrencies becoming a mainstream form of completing transactions.
If you read till here, check out our ultimate guide on how to invest in cryptocurrencies.
What is your favorite way to spend cryptocurrencies?
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*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!