Investing for the long term is a common aim when it comes to crypto.
Yet a growing number of people are also becoming interested in how they can spend their cryptocurrencies in the real world. If you’re one of them, read on.
How to spend crypto
Bitcoin and other cryptocurrencies are becoming more popular around the world. So it’s unsurprising that more and more businesses are accepting them as payment.
Statistics show that over 15,100 merchants worldwide now accept payment in Bitcoin.
The process of spending crypto is as smooth as receiving it. All you need is a merchant or other receiver’s address – either in the form of a character string or QR code. From there, a simple tap of the send button, after you’ve verified the amount is correct, is all you need.
You can also use crypto wallets like Skrill’s to monitor all of your transactions, so that you’ve always got a clear view of your balances and can keep track of your spending in real-time.
What you can spend crypto on
There are a huge number of places where you can use your cryptocurrencies safely and easily. Some good examples include: online shopping, brick-and-mortar stores and travel booking sites.
If you’re looking for places to spend your hard-earned crypto, there are also a number of apps to help you. For example, the Bitcoin Cash Map is a handy app that will show brick-and-mortar stores accepting bitcoin in your area.
More and more online retailers are accepting crypto. One great example is ecommerce major Overstock. Here, you can buy everything from homeware to clothing using Bitcoin and other cryptocurrencies including Ethereum.
Some people are disappointed to learn that online retail giant Amazon doesn’t yet allow purchases with Bitcoin. Although the company might change its policies in future, there are solutions to help you get around this problem today.
Matching services are one example. These handy services connect people who want to buy things on Amazon with Bitcoin, with others who want to trade their gift cards from Amazon for Bitcoin.
A growing number of sites allow you to buy gift cards with Bitcoin and other cryptocurrencies including Ethereum. These gift cards can then be spent at a variety of retailers.
More and more travel sites are starting to accept Bitcoin as payment.
Bitcoin.Travel is one example that allows you to book both flights and hotels. You can also book flights directly with other ticketing companies, or even buy a space flight with Virgin Galactic.
Food & drink
Want to buy your favourite fast food? A growing number of websites are helping consumers to buy their favourite takeaways with Bitcoin. Others allow you to purchase gift cards for your favourite restaurants using Bitcoin.
Games, movies & more
Bitcoin can be redeemed to deposit funds into Microsoft accounts, allowing you to buy games, movies or apps in the online Xbox and Windows stores. There are also a range of other online gaming stores accepting Bitcoin and other cryptocurrencies.
Want to help someone in need? A large number of charities now accept Bitcoin and other cryptocurrencies – a quick Google will help you find out which ones they are.
Save the Children was the first global NGO to accept Bitcoin. The charity now accepts Ethereum and Litecoin too.
Although most brick-and-mortar businesses don’t accept crypto yet, there are some that do. Coinmap is a great website that allows you to search for outlets near you accepting cryptocurrencies.
Growing your crypto portfolio
With crypto becoming more widely accepted, there’s never been a better time to start building your portfolio of cryptocurrencies.
Skrill is an easy-to-use digital wallet that lets you buy and sell more than 10 different cryptocurrencies instantly. Try it today and see how simple starting out with crypto can be.
Cryptocurrencies are complex products with high price volatility. They are unregulated, without consumer or financial protections. Only risk what you can afford to lose.