What are the different ways to spend your crypto?

[BrolySSJ]

At this point in time there are many people that I invested in cryptocurrency and many merchants that are also accepting it as a form of payment. What are the different stores or merchants that you use in order to utilise your cryptocurrency for payments?

Based on my experience whilst there are a lot of stores online to accept it is very limited within my region. Therefore in order to make use of it I typically find myself purchasing gift cards using my cryptocurrency and then after that being able to purchase on a site. There are many sites that sell gift cards in exchange for cryptocurrency. Also there are some third-party applications that will act as an intermediary in order for you to purchase from a site with cryptocurrency. Basically you paid them and then they pay the actual site for the product that you want.

How is it within your region? Is cryptocurrency widely accepted or do you also have to go through a similar process?

 

[Jacobmj11]

At this point in time of advanced technology you can use Bitcoin to purchase things online
Pay school fees
Buy things in markets here in Nigeria

 

[Kamon c4]

This is interesting. Though The whole world has evolved and technology has taken over, I still haven’t come across ecommerce websites that accepts cryptocurrency as a means of payment. Though I’ve come a websites where you exchange gift cards for bitcoin. Paxful and Patricia are good examples of such websites

 

[btaliat]

There are some handful of online outlets that trade in bitcoins and some selected coins now. Even there is a bank in the part of Asia that accepts ripple. Also, some sites exchange bitcoin with gift cards. Bitcoin is going global now.

 

[giddy]

If you travel, you’ll be familiar with the difficulties involved with various different local currencies — except with Blockcard, this is all irrelevant. You’ll never need to pay an exchange fee again. The TERN blockchain will talk to the local payment system and instantly convert your cryptocurrency into whatever form the merchant wants.

 

[Sake]

All i do when i want to exchange my coins are sell it to my local currency.. we don't have much options to do aside from that because i don't know any store that accepts Bitcoin right now. I know it can buy things from Darkweb but i wouldn't go there for that.

 

[Tiwa]

At this point in time of advanced technology you can use Bitcoin to purchase things online
Pay school fees
Buy things in markets here in Nigeria

Yes with heightened state of technology about everything cryptocurrency is getting accepted but not entirely. There is more than a mile to go when it comes to ability to shop anywhere and everywhere. Only a few places accept crypto as form of payment and I can bet the few places has not even occur in Nigeria other than forums. Not for fmcgs.

 

[Suba]

I have paid at a coffee shop and also made online purchases using Bitcoin, although Bitcoin is accepted as a means of payment but not all stores are willing to accept Bitcoin, after all, it's better now to shop using fiat money, because Bitcoin and other crypto are better for us to store, because the price will be continue to rise.

 

[Chris]

There are sites that trades cryptocurrency and accept it as a means of payment, I can sell my crypto coins there or exchange them as gift cards for online purchase, locally I can sell it for fiat currency to purchase items from retails stores who doesn't accept crypto.

 

[Ralphjoe]

I hadn't had a need to shop online with my Bitcoin wallet or it just hasn't crossed my mind before. I am just used to using my normal fiat currency to do my online trading through my debit card. Maybe if Bitcoin actually introduced a debit card, this will impress it on my mind to use Bitcoin online as payment.

 

[Patrik]

If you live in an area or country that doesn't have buying using cryptocurency as a feature, then you might take selling and buying cryptocurrency as a business, because Bitcoin for example can be sold for a profit everywhere

 

[LaylaG]

There are numerous way you can spend your cryptocurrency I think the best way is for you to use it to order for goods and services online in some sites that accept cryptocurrency as mode of payments,you can change cryptocurrency to in local currencies of this world and use them wherever country you are, people use cryptocurrency as a mode of payment for a work someone has done for you , you can convert your cryptocurrency to gift card and other things you like to convert it to.

Post automatically merged: Jan 20, 2021

There are numerous way you can spend your cryptocurrency I think the best way is for you to use it to order for goods and services online in some sites that accept cryptocurrency as mode of payments,you can change cryptocurrency to in local currencies of this world and use them wherever country you are, people use cryptocurrency as a mode of payment for a work someone has done for you , you can convert your cryptocurrency to gift card and other things you like to convert it to.

 

[Ehizzy1]

I think in my country for now crypto is not fully legalised and it's also not regulated and also its not used widely but there are still many ways i do spend my crypto currency , like i can use it to purchase hosting for my site and also buy a domain , since there is a site that is in my country that offers such service and thats the only thing i do with my crypto currency interms of spending

 

[ahmedo24]

The only most of us in Nigeria are using Crypto currencies now is to invest in them and sell them for local currency when the need arises, it has actually made our engagement on the internet very profitable and productive.

 

[Damscooguns73]

Concerning the different ways to spend the cryptocurrency. Well, I dont know or I haven't seen where cryptocurrency coin is been accepted for payment in my country but all I do with my cryptocurrency is to trade with it that is buying and selling

 

[Richmond funke abosede]

Cryptocurrency is now the most popular trading people put their money into,we have various ways to spend our bitcoin,we can easily use it to buy things from the supermarket or shop's that accept cryptocurrency as payment method

 

[Mrallison]

It isn't accepted in my region at all, haven't seen any store or organization that accepts it so i just sell to my luno app and withdraw to my bank account i know it's kind of stressful but that's the only way to go

 

[Adeyoola7]

You have a few different options, just like you do with the good old American USD. With your “regular” money, you can store it in a bank and spend it digitally through a bank transfer or PayPal. Or you can use a card like a debit or credit card to spend money

 

[tuna89]

There are quite a lot of ecommerce or shopping websites where you can make payments with bitcoin and have your transaction confirmed before successful delivery, do make sure to have a digital wallet that can efficiently pay and receive. Some of these sites i prefer include Microsoft - they accept crypto payment for some expensive products, eGifter also accepts crypto payments too as well as Newegg and more.

 

[EMMANUEL]

How to Store Cryptocurrency​

Before we dive into how to spend your cryptocurrency, let’s talk briefly about how to store it. You have a few different options, just like you do with the good old American USD. With your “regular” money, you can store it in a bank and spend it digitally through a bank transfer or PayPal. Or you can use a card like a debit or credit card to spend money. And, of course, you can also store cash in your wallet and spend it from there.

This is similar with cryptocurrency. You can get a “wallet” for your cryptocurrency. You can use a software-based wallet on your desktop or online wallets that you can access from anywhere. Mobile wallets let you transfer and spend cryptocurrency from your phone. Another option is a hardware wallet, which is a USB device that stores your cryptocurrency keys electronically.

Finally, some outlets offer paper wallet services, which are similar to cash. With this, you’ll have a piece of paper with two QR codes on it. One is how you receive cryptocurrency and the other is how you spend it.