Cryptocurrencies are rapidly changing the way we approach and spend money. Being completely decentralized, cryptocurrencies became a very popular investment option among people all over the world.
However, the fact is that the average person does not really know or understand how or where they can spend their cryptocurrencies.
That is why we have created a short guide that will try to explain how and where cryptocurrencies can be spent.
Places where you can directly spend your cryptos
Most of the time, cryptocurrencies are spent by using a crypto credit or debit card. However, there are some places that accept cryptocurrency as a direct payment method. While some of them still rely on the use of third party processors like Bitpay and Cryptopay, others accept direct transactions. Nowadays, most online casinos also accept cryptocurrency payments. One of these casinos is Stake and there is even a bet bonus code to players who chose to use this payment method. Fortunately, the number of places that accept crypto is constantly increasing, so we can expect to see more and more retailers and institutions opening their arms to this form of payment.
Crypto credit and debit cards
As mentioned above, one of the most common ways you can spend your crypto is by connecting it to a debit or credit card. By using this method, you will spend your cryptos in a more or less similar way as you would with fiat currencies. Visa and MasterCard are just a few of the major credit card companies that issue these types of cards, so you can basically use them to spend your crypto anywhere these cards are accepted. Please note that different types of cryptocurrencies have different card options available. So make sure you know what type of debit or credit card is the best option, based on the crypto you hold.
Payment processors that accept crypto
The good news is that several payment processing systems, and particularly those popular with nonprofits, small businesses, and even larger retailers, now accept Bitcoin. What this means is that we can expect them to expand the list of accepted cryptocurrencies in the not too distant future. Shopify and Square are just a few of the payment processors that currently accept Bitcoin. Spire is yet another example that allows businesses to embed a Bitcoin payment form directly on their websites.
As you can see, although it may sound quite complicated at first, finding places where you can easily spend your cryptos is not so difficult anymore. And with various industries and payment processors opening their doors to this type of currency, we can only hope it will get even easier over time.