Cryptocurrency is quickly changing the way in which we approach and spend money. Being completely decentralized, cryptos became a very popular investment option among people across the world.
However, the fact still remains that an average person doesn’t really know or understand how or where they can spend their cryptos.
That’s why we’ve created a short guide that will try to explain how and where cryptos can actually be spent.
Places where you can directly spend your cryptos
Most of the time, cryptos are being spent by using a crypto credit or debit card. However, there are some places that accept cryptos as a direct method of payment. While some of them still rely on using third-party processors, such as Bitpay and Cryptopay, others welcome direct transactions. Nowadays, most online casinos accept crypto payments as well. One of these casinos is Stake and there is even a Stake bonus code to players who chose to use this payment method. Luckily, the number of places that accept cryptos is on a constant rise, so we can expect to see more and more retailers and institutions opening their arms to this form of payment.
Crypto debit and credit cards
As mentioned earlier, one of the most common ways you can spend your cryptocurrencies is by connecting them to a debit or a credit card. By using this method, you’ll be spending your cryptos in more or less similar way as you would fiat currencies. Visa and MasterCard are just some of the major credit card companies that issue this type of cards, so you can basically use them to spend your cryptos wherever these cards are being accepted. Keep in mind that different types of cryptos have different card options available. So, make sure you learn which type of a debit or credit card is the best choice, depending on the crypto you possess.
Payment processors that accept cryptos
The good news is that several payment processing systems – and particularly the ones popular with nonprofits, small businesses and even larger retailers – are now accepting Bitcoin. What this means is that we can expect them to broaden the list of cryptos accepted in the not-so-distant future. Shopify and Square are just some of the payment processors that are currently accepting Bitcoin. Spire is yet another example that allows companies to integrate a Bitcoin payment form right into their websites.
As you can see, although it may sound quite complicated at first, finding places where you can easily spend your cryptos is no longer that difficult. And with various industries and payment processors opening their doors to this type of currency, we can only expect it to become even easier with time.