Even though most cryptocurrencies are utilized as investments, these digital assets have more uses than you might expect. Tokens like Bitcoin and Ethereum have undergone updates in recent years aimed at enhancing transaction times and functionality.
But are you all caught up with the latest ways in which you could be spending these digital assets?
Continue reading as we cover how and where you could spend your cryptocurrencies. As we read, we’ll also uncover the different sources where you could use your crypto for services in a quick and hassle-free manner. Let’s get started!
Top 6 Ways To Spend Your Cryptocurrency
1. Purchase Online Gift Cards
Gift cards are probably one of the most convenient purchases you can make using cryptocurrencies. When visiting prominent payment gateways’ like Coingate, you can exchange your crypto tokens for the equivalent amount in gift cards.
The platform brings you endless gaming possibilities with its gift cards. Once you visit the Coingate website, you can easily choose from a wide range of gaming products and subscriptions, including Apex Legends, Minecraft Minecoins, and PlayStation Network.
2. Purchase Domain Names
Did you know you could now create your website using crypto tokens? Platforms like Namecheap now accept cryptos in exchange for selling their domain names. All you need to do is sign into your account, select the domain name card you want to buy, and simply click on it, and it’s done.
If you’ve been considering building a website and getting cryptocurrency to spend, it might be worthwhile to purchase domain names. Besides, you could also be purchasing these domain names as an investment, although you should first do thorough research on domain investments.
3. Hotel reservations
Many hotel reservation sites now accept Bitcoin. If you enjoy traveling and possess cryptocurrency, it might be worthwhile to take advantage of this benefit. You might also get global discounts.
You can use platforms like Travala to book flights, lodging, holiday rentals, and rental cars. Similar to Travala, Expedia allows you to use Bitcoin to pay for some of the same services.
Additionally, we now have Cheap and Alternative Airlines that offer flights and take payment in Bitcoin. Soon, more airlines are anticipated to accept Bitcoin as payment.
4. Purchase sporting event tickets
Cryptocurrency marketing has been rife in the world of sports. Today, it’s possible for crypto investors and enthusiasts with interests in the athletic circle to watch the match of their favorite team using crypto tokens.
In addition, numerous online ticket sites like US sports clubs are beginning to test cryptocurrency as a legal service tender.
Many sports organizations have announced that fans can use cryptocurrencies like Bitcoin to pay for event tickets. For instance, the world-famous soccer teams Mexico’s Tigres and Spain’s RCD Espanyol now accept Bitcoin as a legal tender for their match tickets.
5. Pay freelancers for their work
Cryptocurrency can be quite beneficial in terms of productivity, especially when it comes to cross-border payments. Cryptocurrency can be used to pay independent contractors for their work.
Besides, paying employees with cryptocurrencies is a growing trend, whether for a side job or a crucial project for your company.
Sites like Gitcoin, LaborX, and Ethlance already provide platforms for freelance work that is paid in crypto, and the reason is that they were built using blockchain technology. As a result, Crypto can make it simpler to organize, manage, and pay freelancers.
6. Make Donations
Donating cryptocurrencies to a good cause is the most upstanding use of digital assets. Many web services and organizations take donations in BTC and other cryptocurrencies.
Even if you’re tipping your favorite streamer, sending a gift to the author of an insightful article through a WordPress plugin, or giving to a charity, it can be done with cryptocurrency if the receiver accepts crypto payments.
For example, when Russia invaded, the Ukrainian government started accepting Bitcoin donations, and many investors flocked to the cause.
The Numbers Game For Crypto Is Changing
Accepting crypto payments is a huge opportunity for the growing crypto enthusiasts in 2022. Stats around the increasing crypto adopters suggest that retail businesses that haven’t adopted crypto payments are missing out on a great opportunity. Over 80% of investors want to pay for products and services using crypto balances.
Not to forget, crypto tokens are also an advanced measure for securing transactions and avoiding cross-boundary taxes, while maintaining complete secrecy. All of these factors add to the advantage of opting for the process.
This brings us to the end of our blog on the list of possibilities available via crypto tokens. So while cryptocurrency is largely seen as an investment option, the functional possibilities are endless.
Besides, this is our first step into the unexpected ways we could be using our digital tokens. Cryptocurrencies are expected to take center stage for transactions and other services in the future.