The cryptocurrency was first released in 2009 in the form of bitcoin, and since then, it has gained huge acceptance among retailers and consumers. Due to its startling increase in value, numerous shops declared they would start accepting it at their stores. However, more businesses now support the concept of incorporating crypto into their daily operations than ever before. Now the question arises, “how to buy things using cryptocurrencies”? Here we have tried to answer your question in the best possible way. So, please go through the complete article to get your answer.
How to buy things using Cryptocurrencies?
Storing cryptocurrency is complicated, but using it to buy something is relatively simple. A cryptocurrency debit card provides the easiest and most convenient way to make purchases of goods and services using bitcoin or other cryptocurrencies. Cryptocurrency exchanges issue these cards in partnership with giant payment providers such as Mastercard, Visa, etc. The crypto debit card allows the holder to withdraw cash from participating ATMs.
What is a crypto Debit Card and How does it Work?
Crypto debit cards are like regular debit cards that allow crypto holders to use cryptocurrencies to make retail purchases by converting crypto assets to the fiat currency of choice. Cryptocurrency exchanges issue them in partnership with giant payment providers such as Mastercard, Visa, etc. These crypto debit cards help users to buy things using cryptocurrencies.
Similar to regular debit cards, cryptocurrency debit cards function similarly, with the exception that bitcoin or another cryptocurrency of your choice is preloaded onto the card in place of cash. When the crypto holders use them for making purchases, the money is withdrawn from their card in cryptocurrency and paid to the merchant in fiat money, such as dollars. And just like the ordinary debit card has a payment limit, the same applies here too. When the balance of your crypto debit gets low or exceeds the payment limits, you have to reload the card with a cryptocurrency.
What You Can Buy with cryptocurrency
As cryptocurrencies continue to grow into mainstream adoption, you can buy so many things for daily use. The crypto debit card allows you to spend your cryptocurrencies on everyday goods and services. However, what things you can buy using currency depends on which part of the world you are living in and which crypto you are holding.
According to data from a survey conducted in the United States of America, it is found that 36 percent of small and mid-sized businesses in the country accept cryptocurrency, and 56 percent of those companies buy cryptos for their use as well. In essence, users or individuals have several options to buy things using cryptocurrencies
Various companies like Microsoft, AT&T, Wikipedia, Intuit, and Shopify accept Bitcoin payments for their services. With Bitcoin, you can also purchase flight tickets on the Norwegian Air Shuttle and Virgin Galactic. Some US-based dealers of car companies like Lamborghini also claim to accept payment in Bitcoin.
You can also make the purchase of daily-use items with Bitcoin. Burger King and Pizza Hut in Venezuela, KFC in Canada, and numerous Pizza Hut outlets in several countries accept Bitcoin payments.
List of Best Cryptocurrency Debit Card in 2022
Crypto debit cards are one way that makes cryptocurrencies more widely accepted in daily life. Similar to regular debit cards, these let you swipe your card to withdraw your money from an account and spend on purchasing goods and services. It allows you to buy things using Cryptocurrencies. However, it has one significant difference, this card links to one of your cryptocurrency wallets rather than your bank account. But for crypto payment, you need to have a crypto debit card and an idea of the best crypto debit card. So, to help you, here we have listed some of the best crypto debit cards. Some of the best crypto debit cards of 2022 are as follows:
Binance Visa
BitPay Debit Card
Coinbase Visa Card
Crypto.com Visa Card
BlockFi Visa Rewards Signature Card
FAQs on How to Buy things Using Cryptocurrencies
Q. Can I use bitcoin to buy things?
Ans- Yes, you can use Bitcoin and other cryptocurrencies to buy a growing range of products and services. Although certain vendors still refuse to take it, many merchants and payment processors now accept bitcoin. So, by using Bitcoin or cryptocurrencies, you can buy goods and services.
Q Can you buy things with cryptocurrency?
Ans- The answer is yes, but it depends on which country you are living in and the cryptocurrency you are holding. Not every cryptocurrency is in mainstream adoption in every part of the world. You can buy a growing range of products and services in countries like USA and Canada using bitcoin.
What can I buy with bitcoin in India?
Ans- The acceptance of Bitcoin payment for purchasing things in India is much lesser than in the USA or other foreign countries. India is slowly beginning to consider it as a legal payment option. In India, registered Bitcoin users can buy a voucher from over 90 brands with bitcoin. And using the voucher, you can buy things like Domino’s Pizza, Robin Baskin Ice-cream, Himalaya’s beauty products, and even Prestige’s home appliances.
Beyond How to Buy things Using Cryptocurrencies Under Fintechs Reads
How to Earn Bitcoins Quickly with Your Phones
How to Set up a Crypto Wallets for Newbies
The Best Bitcoin Wallets in 2022
How to Open a Crypto Wallet 2022