Cryptocurrencies such as Bitcoin are long-term investments for a lot of people. They want to hold onto them for multiple years so that their value grows, and they might one day trade them in. However, cryptocurrencies have other uses too, including allowing you to make secure transactions when you buy things. If you want to spend some of your digital currency, without trading it for traditional currency, you might feel like you’re a little limited in how you can spend it. However, there are multiple ways to spend your money as you wish. Here are some of your options if you want to get spending.
Spending your cryptocurrency online is often the easiest thing to do with it. You can find multiple ways to spend your money, although there are still plenty of retailers that need to catch up. One of the ways that people have been able to get around big brands not accepting cryptocurrencies is by buying gift cards. If you buy gift cards with Bitcoin, you can then use those cards to shop at your desired stores. The stores don’t have to accept Bitcoin and you can still buy what you want. Another option for spending your money online is buying video games and making in-game purchases.
Give It Away
Are you feeling generous? If you want to do something good and give away some of your money, this can be an option for cryptocurrencies too. There are some websites that use plugins to make crypto donations possible so that you can tip content creators. On Reddit, you can buy Reddit coins using Bitcoin and give out awards to people whose contributions you appreciate. You can even find nonprofit organizations that take donations in cryptocurrencies and use blockchain to operate.
Spend in Restaurants
Spending money on food is another way you can make use of cryptocurrencies. Some of them are accepted by restaurants and other places to eat and drink. Of course, finding these establishments isn’t always easy and you can find that there aren’t many (or any) in your local area. However, when you do find them, you can use a mobile app to pay for your food and drink. This is another thing that you might be able to buy gift cards for, especially for chain restaurants and bars that are more likely to offer this option. As well as restaurants, you might be able to find cafes and other casual eateries.
Pay for Your Travels
If you’re planning on going traveling, you might be able to spend your cryptocurrency on booking your trip. There are several booking agents, such as Expedia, that allow you to use cryptocurrencies to pay for your hotel, car hire, and other elements of your travel plans. Plus, with more businesses (and governments) around the world accepting these currencies, you can often find places to spend your coins while you’re traveling too.
You can spend your cryptocurrency both online and offline, making use of it instead of only keeping it as an investment.