Various ways to spend your cryptocurrencies

Wednesday February 12, 2020

Having first emerged just over ten years ago, cryptocurrencies have developed a great deal in that time and are now something that most people have at least some awareness of. However, while cryptocurrencies such as Bitcoin have certainly become more well-known and attracted serious amounts of investment, there are still real limits on what crypto coins can be spent on. This piece will serve as a guide to the best ways of spending any crypto you hold.

Gambling

One of the industries that has been quicker to embrace crypto is the gambling one, as it has obvious security and privacy benefits that online gambling sites have recognised. While it is more common in online casino right now, it is being adopted by some sports betting sites too, so look out for new bookmakers offering crypto pay options  You will have the choice of using your cryptocurrency at a site that is entirely crypto-based for payments, or one that offers both this and traditional currency payment methods. Bitcoin is the currency that most sites presently accept.

Tech and gaming

The tech world is all about innovation so it should not be surprising that tech companies are among the crypto early adopters. This includes the big names, with Microsoft being one of those that accepts cryptocurrency as payments. This does not apply to all of its products however, as the online Microsoft store does not take them, but they can be used in the online Xbox and Windows shops. This means both games and tech products are among the items that crypto can be spent on.

Charity

You do not have to spend your crypto savings on yourself – maybe you would like to donate some of it to a charity. This is a real option as some charities are now able to take donations using Bitcoin and other such currencies. For example the kids’ charity called Save the Children has started to use the crypto transfer site Bitpay for people who want to make donations to it directly in Bitcoin. This is one crypto spending choice that will give you a good feeling.

Pizza

Pizza is always a popular meal choice and one that is available to buy using crypto coins. The website Pizza for Coins was set up specifically to allow people to order the pizza of their preference from a local shop using Bitcoin. Furthermore, it is not just Bitcoin that you can use at this site, as it accepts payments in more than 50 different cryptocurrencies. There is also a nice symmetry to spending the crypto coins you have built up in your wallet to buy a pizza, as that was the very first item ever purchased with Bitcoin.

While cryptocurrencies are starting to move into the mainstream as a way of buying and selling goods, it is slow progress and more companies should consider accepting them as legitimate money. If these initial moves prove a success that should happen eventually.