10 Things You Can Spend Cryptocurrency On
Nov 23, 2021
Cryptocurrency is becoming more widely accepted and there are numerous, practical ways to spend it, making it part and parcel of your everyday life, not just the trading one! A surprisingly wide range of businesses now accept cryptocurrencies such as Bitcoin and Litecoin as payment, and with the Lightning Network soon to be fully operational, this range will expand even wider.
If you’ve ever found yourself wondering what to do with the cryptocurrency you’ve saved up and worked hard for over the years, and want to spend it on something, a great place to start is CoinMap.org - where users can find a comprehensive list of in map form of all the cryptocurrency merchants worldwide. What kind of merchants are on this list, and what are the easiest things to buy with crypto?
Let’s take a look…
Since virtual private networks (VPNs) protect your online identity, it's not surprising they were among the first to accept Bitcoin payments. A VPN allows users to keep their location secure from any prying eyes, and even allows them to access information that may be limited to certain jurisdictions, but most VPNs require a monthly subscription. And most of the leading providers such as ExpressVPN, PrivateVPN, and SurfShark all accept payment in cryptocurrency.
It makes sense that web-based services such as cloud storage would accept cryptocurrency. If you want to spin up a business website, host some large files, or even host a Bitcoin or Ethereum node, you can do so by renting storage space in “the cloud”! Hostinger, Hostwinds, and Namecheap are all some of the leaders accepting crypto today.
It is even possible to buy real estate with Bitcoin and crypto! It is becoming increasingly popular to see Real Estate agents implement transactions via crypto, likely because the fees are far cheaper when dealing with such high values of $100,000 or more. Progressive countries like Estonia, Malta, and more prominently Dubai have all made headlines for certain agents listing their properties in crypto, and New York city is now on that list as well - with a $29 million property available for sale with crypto!
Yep, you read that correctly. Again, thanks to the economics of large financial transactions, numerous high net worth individuals are making asset purchases with their crypto - and yachts are top of their list. This 52 foot Lagoon Catamaran was paid for half in US Dollars and half in Bitcoin, making global headlines at the time.
When Lambo, right? Well, considering it is the most popular of all assets for crypto trading dreamers, it made perfect sense when Lamborghini allowed for certain models of their cars to be purchased with Bitcoin. Newport Beach’s Lamborghini outlet was one of the first in the world to accept cryptocurrency, and since then hundreds of Lamborghini outlets worldwide have followed suit.
Online purchases are a common use for crypto, with hundreds of stores allowing for payment to be made in Bitcoin or other digital assets. And with the acceptance of crypto via PayPal, this has grown exponentially. But what about in the real world with a card? Well, Crypto.com have worked tirelessly to produce a regulated card that is connected to your cryptocurrency account and can be used at any retail store, while Bitrefill are doing the same thing in Africa and Europe with their crypto-based gift card mechanism.
While Uber and Bolt (formerly Lyft) seem to have taken the world by storm, there are still a myriad of traditional taxi operators from London to Indonesia, many of them accepting cryptocurrency in order to stay relevant. But one company in India has actually built their entire business around blockchain technology. DRIFE have built their app with a unique blockchain integration, and even have their own cryptocurrency for users to buy rides with!
Travel has become a surprising adoption-driver of cryptocurrency payments, and already millions of people have spent their crypto on a memorable holiday. And while Covid-19 has seen this industry slow in recent months, the payments are still being made! Alternativeairlines, Travala.com, and CheapAir are some of the leaders among travel agents accepting cryptocurrency. What are you waiting for? Go and check how far 1 Litecoin will get you!
Is there anything better than putting on a name brand jacket for the world to see you “made it” in life, and knowing you paid for it with your well earned cryptocurrency? We didn’t think so. For now, those name branded jackets are still a little harder to come by, but thanks to fashion entrepreneurs like the owner of Jeffersons Apparel in NJ, USA, it is becoming increasingly common. And as this GQ article highlights, there are growing a number of Bitcoin millionaires looking to spend their fortune on high end clothing, so this is a specific industry we’re watching carefully.
Remarkably, one of the easiest ways to spend your crypto is on food - and yes, unfortunately most of it is junk! As junk “food”! This specific user has garnered thousands of views on a ten second YouTube video for filming himself buying a Subway with his Bitcoin, while KFC Canada responded to a query recently about accepting DOGE as payment. Additionally, McDonald’s entered the fray of blockchain hype when they tweeted an NFT integration they’re bringing to their app.
So you see, cryptocurrency adoption is accelerating at an exciting pace, and soon you’ll be able to spend your crypto on almost anything you can imagine. While there are of course numerous regulations and compliance standards that these vendors will need to adhere to, there is no doubt there is a global appetite for living life with crypto. The groundbreaking technology is here to stay, and so its appeals to the retail investor who wants to stay in the ecosystem and pay with it as well as trade it.
We’re working immensely hard here at MultiBank io to ensure all of our payment gateways and partners offer you the largest form of utility when it comes to your MultiBank io cryptocurrency accounts and wallets, and so be sure to keep an eye on our Facebook, Instagram and Twitter channels for more adoption news, just be careful not to spend all your crypto, you don’t want to be buying a pizza for 10,000 BTC!
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of MultiBank io. No information in this article should be interpreted as investment advice. MultiBank io encourages all users to do their own research before investing in cryptocurrencies.