Advancements in technology have made it possible for individuals to make their purchases in a variety of ways. Along with using cash and credit cards to buy the things you want, in recent years, the ability to acquire items using cryptocurrency is on the rise.
These advancements in the way you can buy have left many people wondering exactly what they can purchase with their cryptocurrency. The answer to this question is that you can buy almost anything that you would with fiat money, such as cars, homes, and household items.
Being able to purchase things using cryptocurrency depends entirely on how much crypto you have and what you would like to buy. Keep reading to learn more about the items you can purchase using your cryptocurrency.
Can You Buy Things with Cryptocurrency?
It is important to keep in mind that when cryptocurrency first came on the scene, it did so, intending to be an alternative to using cash and other governed currencies. The idea that Satoshi Nakamoto had was to take the regulation out of the government's hands to give more freedom in making purchasing decisions.
While the original intention was sidetracked in many ways, especially by the criminal activities that occurred using crypto, it has not slowed down the advancements in the currency. Today more than any other time, people are using cryptocurrencies such as Bitcoin to make everyday purchases.
So, can you buy things with cryptocurrency? The answer to this question is a resounding yes. This is because many retailers and other businesses have been able to see the advantages of accepting cryptocurrency.
How Can You Purchase Items with Crypto?
Many people wonder, if they have large amounts of cryptocurrency stored, how can they use it to make everyday purchases? Using your crypto can be done in a variety of ways, however, the most common of these is using a crypto debit card.
These debit cards are issued by the cryptocurrency exchanges where you have your currency stored. Using these debit cards, which are powered by companies such as MasterCard and Visa, is the quickest way to use your crypto to make your purchases.
Like other prepaid debit cards, these are loaded with your cryptocurrency funds and then paid out to merchants using fiat money. As with other cards like these, when your balance runs low, you are then able to reload what you need from your crypto accounts.
What Can You Buy with Cryptocurrency?
When it comes to purchasing items using your cryptocurrency rather than fiat money, many things are available today for you to do just that. These items range from big-ticket items such as homes and cars to smaller everyday items such as coffee and food items.
Keep reading below to learn more about the types of items you can purchase with your cryptocurrency.
Many car dealerships have begun allowing the purchase of vehicles using crypto funds instead of fiat money. This can often be done either at specific dealerships or on a website called Bitcars.
Through these means, you can use either all or a portion of cryptocurrency to fund your purchase of a new car if you have it available. Depending on how much crypto you have and what it is currently valued at, can mean that you are not spending money out of your pocket to make such a big purchase.
Here are some of the car brands you can purchase with crypto:
While these are just a few of the types of cars you may be able to purchase with crypto, there may be more on the horizon.
While you cannot currently purchase a home mortgage using cryptocurrency, you still can buy your dream home outright. This is because most mortgage lenders only allow you to use fiat money to secure a home with payments.
However, if you wish to pay for your dream home in full and have the cryptocurrency to do that, you can certainly make that happen.
Furniture and Home Appliances
Many home appliance and furniture retailers have begun taking advantage of the purchase of these items with cryptocurrency funds. This is because it extends their reach from just people who can pay or finance purchases to those who deal in crypto.
Here are some of the items you can currently purchase for your home using crypto:
- Living room furniture
- Appliances such as refrigerators, washers and dryers, televisions, and more
- Bedroom furniture
- And much more!
If you are in the market for electronic items but do not have the cash to make the purchase, you may be in luck. This is because many retailers of electronics have now begun accepting cryptocurrency as a means of payment. And even if a company, like Apple, doesn't accept crypto, you can usually use PayPal to purchase their items with cryptocurrency regardless.
Here are some of the electronic items you can purchase with crypto:
- Computers, laptops, tablets
- Solar panels
Food and Drink Items
Want to purchase everyday food and drink items but don’t want to use your fiat money? You may not have to worry about that if you have some cryptocurrency stored up.
This is because many retailers are now accepting crypto as payment for everyday food and drink items like the ones listed below:
- Fast food
- Pet Food
Keep in mind that while you can use your cryptocurrency to make everyday and big item purchases of products, you can also use it to gamble. This is because many casinos, whether online or brick and mortar, have now begun taking crypto as a way to fund your gambling ventures.
Websites such as MintDice.com offers various online casino games and other ways to use your cryptocurrency for gambling.
The bottom line is that if you have jumped on the bandwagon of cryptocurrency and have quite a bit stored up, you may want to think about some of the items you have been wanting but do not have the standard money to pay for them.
Using cryptocurrency to purchase everyday items and those larger purchases means that you are saving your fiat money for the things you need. Being able to use crypto for this and your gambling ventures means more money in your pocket and more opportunities to bank more crypto in the future.