Cryptocurrencies as a Method of Payment
Cryptocurrencies are still in their infancy as far as payment methods go, but it is possible to use them even today. Bitcoin is already acceptable in many places, online shops, and in countries where there is hyperinflation. Soon the major travel agents will also accept Bitcoin and other cryptocurrencies. On the anonymous side, there’s Monero, which is one of most anonymous cryptocurrencies and it’s already being used in the dark web, and elsewhere. Monero is totally anonymous and attracts the attention of people who want to hide their wealth, celebrities, lottery winners etc. So cryptocurrencies are not an extra option, but rather the only solution to specific payment methods.
What Can You Buy with Bitcoin
You can already buy hotel services, holidays, cars and various items around the world where Bitcoin is normally accepted. Some restaurant owners and shops do accept Bitcoin in hope of doing two things..
- Offer a discount to attract more clients
- Get Bitcoin and hold onto it in hope of it rising to new all time highs.
It is even possible to do major import –export business at this time through Bitcoin and a separate escrow service that both parties trust. Bitcoin and cryptocurrencies will become more mainstream soon. Despite their volatile price, many people want to get around exchange rate fees, problems and limitations of the current forex market. The travel industry will be greatly transformed, and in my opinion it will be a great way for travelers to be introduced to cryptocurrencies.
Real Purchases through Bitcoin Today
Bitcoin was recently used as a method of payment by a Russian wheat exporter, who sold 1000s of tons of wheat to Turkey (an entire shipload). Bitcoin was used to list house prices and to sell houses by various real estate agents/owners. And it has also been used extensively by many small vendors and businessmen, ranging from people who sell online through to Airbnb property renters. People don’t use Bitcoin because it’s fashionable or cool. But because it is rising in price, and it allows both parties to get a better deal overall. The biggest risk I see in the classic forex market are the adverse exchange rates. Sometimes the buyer cannot afford to buy the product because their national currency has fallen too much against the seller’s national currency. Bitcoin makes it possible for buyer and seller to agree and proceed to the deal! This will last for as long as Bitcoin will keep on rising in value, no matter how slowly it rises, and that will be for decades to come, possibly centuries to come.
I remind you that the main objective here is to benefit from keeping your wealth in Bitcoin (the one and only proven crypto currency so far), the one that is most secure and most promising. So the objective is to profit from Bitcoin’s price rise, but without having to lock your capital, and without having to incur the current transaction fees… the problem about high fees will be solved, but you can already get around those fees, for day to day purchases.
Apart from all the usual purchases, you can buy gift cards using Bitcoin today, through services such as:
These gift card companies offer their own bonus programs, benefits and incentives. And they can also provide bulk gifting solutions for businesses willing to reward customer loyalty through gift card draw competitions and awards. More importantly though, they allow you to spend your Bitcoin to make your desired purchases, just like you would with cash, only in a better way!
3 Simple Steps
- Buying/changing Bitcoin into gift cards
- Paying with gift cards at online shops
Online shops for bitcoins spend
Online shops accepting those gift cards.
Amazon – You can buy many products from Amazon, this site is especially good for personal use items, such as clothes, electronics etc. Something that a gift card recipient will love.
eBay – You can buy just about anything from ebay, tools, toys, cars and so much more. You can even buy nice collectibles and antiques at ebay.
Walmart – Walmart is very popular and bound to be useful to all gift card recipients. Nothing provides more shopping flexibility than a gift card, and wall mart customers are bound top
Bestbuy – Recipients of gift cards can buy all sorts of home electronics, especially high value gift cards can be matched to great single product deals.
App Store – Apple offers all kinds of apps for its users, Apple fans will have no shortage of ideas as to what to buy next with their gift card.
Your gift card recipients can spend their gift cards on any of these stores, this offers great flexibility and makes the act of gifting so much more valuable! Remember that gift cards are actually sent to their recipients by text, email, or in the form of a physical gift card.
How to spend other Cryptocurrencies
At this time Bitcoin is the most widely accepted cryptocurrency, so other cryptocurrencies such as Ethereum, Ripple, Litecoin etc, must be converted to Bitcoin, in order to use most of these vendor services, such as the gift card vendors I mentioned here. At this time, Bitcoin is king, and is of number-one preference by all vendors. And by using gift cards and their benefits, you can end up paying with Bitcoin even at vendors that don’t accept Bitcoin directly. It’s important to know the benefits of both gift cards and Bitcoin itself, so that you know you are getting a better deal. And it is a better deal, in many ways, first and foremost you keep your wealth in Bitcoin which is bound to rise overtime, as opposed to fiat currency, credit cards etc. So in the long run you will end up increasing your money substantially, without having to lock it up in any way! Isn’t that amazing?