Beginning in 2009, the cryptocurrency began to make waves as an alternative form of currency that wasn’t backed by any government or central bank. Today, there are hundreds of different types of cryptocurrencies that you can buy online,
but which ones should you buy? And how do you go about using these digital assets to buy real-world items like electronics and food? Keep reading to learn more about 10 things you can buy with cryptocurrency, plus how to use cryptocurrency responsibly!
Top 10 Things to Buy with Cryptocurrency
1) Invest in The Future
There are many things we want to buy in life that we just can’t afford. A house, a car, or maybe even a new TV. Of course, you could go out and get a loan from your bank in order to pay for these items; but is that really an option? Maybe. Maybe not.
When it comes down to it though you have one option: save up money until you have enough saved up to purchase these things—whether that takes 1 month or 5 years is completely dependent on how much money you make and what bills need to be paid most urgently right now.
For many of us, that’s not an option—we don’t have enough money saved up and we don’t have enough time on our hands to be able to wait so long for a new TV. This is where cryptocurrency comes in; cryptocurrency is a way of investing in your future without having to worry about saving up first.
2) Assets you can touch and see
It’s easy to overlook physical things when you’re talking about cryptocurrency, but there are a few unique situations where it can come in handy. For example, if you pay for things in cash, you have no way of proving whether or not someone gave you counterfeit bills. But if everyone pays for everything using cryptocurrency, your smartphone would be able to verify that no one is scamming you.
You could also use cryptocurrencies as collateral; anyone who accepted them as payment would be getting them directly from an address they know they control. There’s not much need for tangible coins or notes when your currency can live entirely in cyberspace!
3) A new laptop
While Bitcoin’s energy consumption is high, it pales in comparison to some other cryptocurrencies. It takes somewhere between 25 and 45 times more energy to mine a single Bitcoin than it does to power an iPhone for a year (and around 100 times more than it takes to charge an Android).
So mining Bitcoins — which are a bit like virtual tokens that can be used as currency — isn’t going away anytime soon. If you want one, however, there are several ways you can buy one using cryptocurrency. Here are our top picks for things you can buy using cryptocurrencies other than Bitcoin. If you want a laptop, Amazon is an option — but it’s not one of our top picks.
The biggest problem is that there are few laptops available on Amazon that support cryptocurrency mining out of the box. Sure, you can buy a Chromebook and mine away, but what if you want something more powerful? Well, then you’re going to need to get creative and install Windows or Linux on your machine — which could void your warranty. As an alternative, we suggest checking out Newegg.
4) Video games
As of 2017, all of Blizzard’s titles and several other big-name games accept cryptocurrency for their products. The company announced back in May that it was planning on accepting Bitcoin through a partnership with BitPay. They are also going to be supporting other popular cryptocurrencies as well, including Litecoin and Ethereum.
World of Warcraft players might want to pay close attention because you can use your cryptocurrency to buy tokens from one game, then turn around and use those tokens in another—all while saving money when compared to fiat currency pricing. But if you’re not into gaming or if you just want something that isn’t digital, there are plenty of other options available as well.
5) See the world!
Have you been thinking about buying a business class ticket to Europe? Or maybe you’ve always wanted an Italian sports car or a new high-definition TV. Thanks to cryptocurrency, it’s now possible—at least in theory—to spend your digital cash on anything your heart desires. (Just be sure not to spend more than your digital cash can buy.) We looked around and found ten things people say they bought using the cryptocurrency—and some ideas for how you can do it too.
The reality is more complicated. Even though some big retailers like Overstock accept cryptocurrency as payment, you can’t just whip out your digital wallet and buy a ticket to Europe or a new flat-screen TV.
You first need to exchange your cryptocurrency for traditional currency, which in turn will likely be exchanged for another type of legal tender—like dollars or euros—before it reaches its final destination. The bottom line: If you want to spend your Bitcoin on something substantial, expect it to take some time and patience.
6) Gifts for friends and family
From stocks and bonds to works of art, cryptocurrencies are a great way to buy just about anything for yourself or others. If you’re looking for a last-minute gift, you can use some of your digital currency holdings as part of your shopping spree. Whether it’s all on your own or in a group, buying gifts can be one of the most fun ways to start spending cryptocurrency. Don’t know where to start?
Here are some ideas to help get you started: Stocks/Bonds: Bitcoin may be risky, but that doesn’t mean stock markets don’t have plenty of opportunity for savvy investors. In fact, you could say that if Bitcoin is Vegas then investing in Atlantic City—it might not be flashy and full of showgirls, but what happens in Vegas doesn’t necessarily stay there—it also applies to money.
7) Alleviate Poverty
Nearly 1.7 billion people (or roughly 20% of the world’s population) don’t have access to financial services that can help them save money, borrow it and make payments. This is especially true in developing countries where about half of all adults are excluded from banks and credit unions.
Mobile phones are quickly becoming a tool for change in these areas, though, as nearly 3 billion people use them as their primary access point to digital financial tools like mobile wallets, loans, and insurance policies. If you want cryptocurrencies want to do more than turn a profit — they want their work for social good too!
8) Crypto streetwear and accessories
Yes, you can actually buy things using cryptocurrency right now! You can buy streetwear and accessories from a variety of e-commerce sites that have popped up in recent years. Places like BitBargain, Anycoin Direct, and Shapeshift are perfect for buying electronics or other items. Here’s how: Find an item on a site that accepts your preferred form of cryptocurrency (like Bitcoin).
Check out by sending payment to one of their addresses (which starts with 1). The seller will then ship your order once they receive payment; it will be sent directly from them. If you want a wider selection of goods and services that accept cryptocurrencies, LocalBitcoins is worth checking out.
9) Crypto-friendly travel
Travel is a big expense that’s hard to avoid, but it doesn’t have to break your bank account. There are several ways you can use cryptocurrency to pay for travel, including AirBnB and gas. We’ve also made a list of travel-related companies accepting Bitcoin. If you’d like some more ideas on where and how you can spend your crypto, check out our full list of merchants accepting cryptocurrency here. You could even win $1,000 worth of Bitcoin in our next giveaway!
Whether you want to spend a night in an Airbnb rental or fill up your tank of gas, there are several companies and online retailers that accept crypto for all kinds of goods and services. While you can’t exactly use your cryptocurrency at every store yet, it is possible to buy things online with crypto in most cases.
10) Support crowdfunding projects
Everyone’s had an idea at one point or another, but not everyone has the capital to start their own business. Fortunately, crowdfunding websites make it possible for people with great ideas and little capital to get what they need by pooling resources. Some of these websites have specific categories for technology projects, like Indiegogo and Kickstarter.
Using these sites means backers are supporting a team working toward a common goal–and in return, those backers can receive something special in exchange. These are great ways for people without a lot of cash to buy things using cryptocurrency. You might receive an early version of whatever product is being developed, or perhaps your name will be included in its documentation as thanks for your contribution.
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