Nine Things That Cryptocurrency Can Do

 

Nine Things That Cryptocurrency Can DoPeople who are wondering if and how to buy Bitcoin may be surprised to learn that Bitcoin and other cryptocurrencies have made it into mainstream society these days. While it’s definitely possible to buy your Bitcoin from a dealer, and that can still be the best choice for newbies, there are now more ways than ever to buy, sell, and use cryptocurrency these days.

1. Buy and Sell From an ATM

There are so many ways that you can earn interest on crypto. There are now more than a few ATM networks where people can buy Bitcoin. This also means that people can (essentially – there are a few steps to this process) withdraw cash from their Bitcoin wallets for immediate use. It’s even possible to buy Bitcoin with spare change at a coin counting machine!

If anyone is hesitating to buy Bitcoin because they think that their money will be tied up in a complicated system of wallets and exchanges, that’s no longer the case. It’s possible to cash out in minutes at an ATM and have instant access to your funds.

2. Pay Bills

Of course, it’s possible to withdraw, sell, or cash out cryptocurrency and then deposit it into a bank account and pay bills that way, but it’s also possible to do that with far fewer steps. There are exchanges that will accept Bitcoin and other crypto, and then send fiat money to utility providers and other billers. This makes it easy for people to use their crypto holdings in their day-to-day lives.

3. Shop Online or in Person

Major retailers started accepting Bitcoin as payment as far back as 2014, and there are now many others that have followed suit. These days, people don’t have to cash out or transfer their crypto to shop online. It’s as easy to shop with Bitcoin as it is with a credit card or bank transfer.

There are even brick-and-mortar retailers that are set up to accept crypto right at the register. Canadians can buy everything from fine jewelry to high-end automobiles to home brewing supplies with their cryptocurrency. Crypto is definitely here to stay, and more and more retailers are realizing that. Be sure to patronize those who support Bitcoin and other cryptocurrencies!

4. Buy Gift Cards

Even if the store where a person wants to make a purchase isn’t set up to accept crypto on their website or at their registers, this doesn’t mean that they can’t shop there with their Bitcoin or other cryptocurrency. There are several exchanges where people can buy electronic or even physical gift cards for their favourite retailers. This is something to keep in mind for the holiday season!

5. Get a Debit Card

For even more spending flexibility, you can tie your Bitcoin or other cryptocurrency to a debit card. A Bitcoin debit card works much the same way as any other credit card or bank debit card. It can be used to make purchases in person, online, or anywhere else Visa and Mastercard are accepted.

6. Travel

Some international airlines and travel aggregators accept Bitcoin as payment. Cryptocurrency is meant to transcend international borders and be a truly global currency, and it can rightfully be used to travel around the world.

There are countries that are far friendlier to crypto than Canada is, so it could be a great use of crypto holdings to plan a trip where you can use Bitcoin for everything from buying the tickets to paying for your hotel and buying meals at your destination.

7. Support a Cause

For people who have benefited from buying Bitcoin and now want to share the wealth, there are some excellent nonprofit organizations that are more than happy to accept donations in cryptocurrency. Both Canada-based nonprofits and those with a more global focus will help harness the power of crypto to serve people and the planet.

8. Send it to Family and Friends

If you want to send some cryptocurrency to someone who doesn’t use crypto, it is now possible to do that through several peer-to-peer platforms. They will accept Bitcoin or other cryptocurrency from users and then transfer an equivalent amount of fiat currency to another designated user. This is a great option for Bitcoin holders who want to do business with or send money to people who do not have Bitcoin wallets.

9. Go to Space

At least one of the companies promoting space travel for consumers is accepting Bitcoin as payment. If you buy Bitcoin and it goes higher than you expect, now you can too!

Bitcoin and other cryptocurrencies are now part of mainstream society. More and more retailers and payment processors recognize that there needs to be alternatives to government-issued fiat currencies and they want to be part of this movement. Anyone who has hesitated to buy Bitcoin because they worry that they won’t be able to liquidate it easily can put that fear to rest. It’s as easy to use as any other form of money these days.

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