Business & Finance

Cryptocurrency: What Can You Buy with Crypto?

When the world completely shifted towards online platforms, be it schools, brands, companies, or organizations, it was pretty evident that technology has gifted us with some convenient advancements. One such gift of technology is cryptocurrency.

Following its inception in 2009, many people initially were skeptical about the idea of e-currency. However, the global user base of a cryptocurrency multiplied by 190 percent within two years, 2018 to 2020 when people began to acknowledge the convenience this currency offers.

Despite its recent fame, many global users still get confused about what crypto is and what can you actually buy using this digital currency. To help you get a better hang of it, we present you with five of the many things you can purchase using your cryptocurrency.

Without further ado, let’s begin adding items to your cart.

What Is Crypto Currency?

To help you understand how you can effectively spend your cryptocurrency, it is essential that you first understand the dynamics and working of this e-currency. Cryptocurrency gets its name because it uses encryption to verify your purchases and payments.

This form of digital currency primarily exists virtually or over the web- using cryptography to make secure transactions and purchases. Unlike other currencies in the world, cryptocurrencies do not have a central issuing or regulating authority or rely on banks to verify transactions.

They instead use a decentralized system to record all the transactions being made and issue new units accordingly. When you transfer cryptocurrency funds, the transactions are recorded in a public ledger, and your remaining currency is stored in digital wallets. Bitcoin was the first-ever cryptocurrency ever made and remains popular to date.

What Can You Buy with Crypto?

1. Gift Cards

Digital gift cards are probably the next best thing to buying a virtual gift for your loved one or sometimes even better than that! One great thing to purchase using your cryptocurrency is a gift card that not only gives you a whole lot of shopping liberty but also a lot of variety.

Gift cards allow you the liberty to buy anything you want, as numerous websites on the internet allow you to purchase gift cards using cryptocurrency and then redeem gifts.

The Flipkart gift card from Coingate is one such example. Coingate is a popular site to purchase gift cards as it offers you to buy gift cards for some of the best sites like Flipkart that initially don’t accept direct crypto payments, but now you can surely redeem the gift you wanted with the gift card your purchases using your crypto amount.

2. Electronic Gadgets

It is safe to say that now you have more electronic gadgets around you all the time than people. Who knew you could now purchase some indispensable electronics like mobiles, laptops, televisions, gaming consoles, and even kitchen appliances using crypto.

You’d be surprised to know that a lot of online stores now accept cryptocurrencies as a valid payment method for your purchases. Thinking of buying a new mobile for yourself or maybe a cake mixer for your kitchen, well, crypto is here for all your great purchases.

3. Vacation Tickets

With crypto allowing you to book hotels and your return tickets, what’s stopping you from purchasing tickets for your dream vacation destination anymore? Travel platforms are now very much open to the concept of cryptocurrency, which is why Expedia and CheapAir allow you to book and even purchase your tickets online.

Not only this, but some places also even allow you to spend cryptocurrency on all your commute expenses because they accept cryptocurrencies as an active payment method. This is your sign to purchase those vacation tickets using the crypto in your digital wallet.

4. Luxury Watches

Yes, you read that right. Who knew the world-famous brand Rolex would allow you to get your hands on some of the most timeless masterpieces using your e-currency. Numerous international luxury retailers and brands will enable you to buy watches from well-reputed brands using crypto dollars.

Apart from watches, several brands also allow you to purchase their expensive jewelry pieces via cryptocurrency. All in all, there’s nothing you like that you can’t buy when you have crypto in your digital wallet.

5. Cars

With time, numerous car companies, whether luxury dealers or mass-market companies are now starting to accept Bitcoin as payment. One of the famous car companies that recently started accepting crypto as a valid payment option is Tesla.

Tesla is a well-known electric car company whose founder, Elon Musk, is a crypto enthusiast. You can also purchase BMW in the United Kingdom through a third-party website. Car lovers, this all might be some good news for you surely.

Conclusion

There’s no doubt about the fact that cryptocurrency has completely transformed the digital shopping experience. Cryptocurrency offers us ease and convenience and a wide range of items to buy just through a few clicks.

Mursaleen

Hi. I'm Mursaleen Siddique, The guy behind UltraUpdates.com. I'd rather call myself a struggling Blogger. I love Blogging with WordPress, Covering Tech, General Topics, Graphic & Web Design Inspiration., Feel free to get in touch via mentioned social media platform or E-mail me at hello[at]ultraupdates.com

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