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Cryptocurrency

Guide To Spending Cryptocurrency

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Cryptocurrency has become a hot topic in recent years, but not everyone fully understands this virtual currency, especially when it comes to how to spend it. In recent research, 86% of Americans say they have heard about cryptocurrencies, including 24% who say they have heard a lot about virtual currency. While only about 13% of Americans say they have heard nothing at all about cryptocurrency. 

So we did the digging and came up with this resource on how to spend cryptocurrency for anyone looking to cash out on some of their investment. From how to obtain a debit card for cryptocurrency, to retailers that accept cryptocurrency payments, we’ve got you covered. 

Key Takeaways

  • Cryptocurrency can be connected to a debit card to allow coin owners to spend their cryptocurrency like cash. 
  • Merchants using Shopify and WordPress can integrate payment methods into their online stores for customers to make transactions.
  • Almost every industry has a merchant who accepts cryptocurrency; cars, travel, web services, and more.

Spending cryptocurrency is very similar to spending traditional currency. Like traditional currency, crypto owners can connect their coins to a debit card for easy spending. In fact, traditional credit card companies like Visa and MasterCard are two major companies that offer cryptocurrency debit cards. 

Some cards like CoinsBank, automatically convert Bitcoin into several different currencies, including U.S. dollars. But if you own altcoins like Ethereum and ETC, you’ll need an altcoin debit card like Uquid to do your spending. 

Debit Cards and Prepaid Cards for Bitcoin

  • CoinsBank: a cryptocurrency exchange that offers four different card options with different features and fees. The cards automatically convert Bitcoin into several different currencies, including U.S. dollars.
  • Xapo: a card that works like a debit card, which lets you pay in stores or online or get cash. It also comes with an app to help you keep track of your spending and current Bitcoin value.
  • Cryptopay.me: This is a prepaid card with low commission fees. It comes with both a plastic and a virtual version, so you can choose whichever works best for your current needs. Again, this card works with GBP, USD, and EUR.
  • SpectroCoin: This prepaid card lets you cash in Bitcoins at any ATM worldwide. You can also use it as a debit card. Cards can be used in USD, EUR, or GBP.
  • Bitpay: This Visa-branded card lets you load your bitcoins from your virtual wallet. You can then withdraw cash or use the card at retailer stores.
  • Wirex: This card has a robust online banking app specifically for bitcoin. It lets you store your bitcoin in a digital wallet and then use the card to spend it as dollars.
  • Bitstamp: This is another virtual wallet option that also offers a plastic prepaid debit card that you can fund with bitcoin.
  • SatoshiTango: This card lets you buy bitcoins and then transfer them onto a debit card.

Altcoin Debit Cards and Prepaid Cards

  • Uquid: This card, which also supports bitcoin, also works with 89 other cryptocurrencies, including Ethereum, ETC, Augur, Emercoin, and more.
  • Polybius: This is an up-and-coming project that will take Bitcoin, as well as a variety of other cryptocurrencies.

Now that we have a debit card to spend our cryptocurrency, we’ll need to know what retailers accept these types of payments. Alternatively, some retailers use 3rd party software like Flexa to accept cryptocurrency. Below is a list of retailers that accept cryptocurrency in some fashion whether through 3rd party software, debit cards, or direct transfers. 

Online stores that accept Bitcoin

  • Overstock: accepts and fully supports Bitcoin payments
  • Home Depot: uses Flexa to accept Bitcoin payments
  • Newegg: accepts Bitcoin payments for most of its stock
  • Shopify: Shopify merchants can accept Bitcoin, Ethereum, and Litecoin, among 300+ digital currencies using Coinbase Commerce, BitPay, and CoinPayments.net
  • Microsoft: allows users to add money to their accounts with Bitcoin

Service Providers 

  • AT&T: allows users to pay their bill through BitPay
  • Twitch: allows ​​users to pay in bitcoin, but also bitcoin cash and ether, as well as lesser-used coins like BUSD, PAX, GUSD, USDC, and XRP
  • Dish Network: allows users to pay their bill through BitPay
  • ExpressVPN: accepts Bitcoin via BitPay and a variety of other electronic wallets
  • NordVPN: accepts Bitcoin
  • ProtonMail: Bitcoin is not available as a payment method during account sign-up, though it can be used to purchase account credits once an account is created
  • Vultr: supports Bitcoin Cash payments for cloud servers
  • WordPress: allows users to accept Bitcoin payments 
  • Reddit: allows users to buy premium features with Bitcoin
  • Namecheap: accepts the Bitcoin payment method
  • Bloomberg: allows users to use Bitcoin to subscribe to online news
  • Chicago Sun-Times: allows users to use Bitcoin to subscribe to online news

Video Games

  • Xbox: allows users to use Bitcoin to pay for games, add-ons, and Xbox Live subscriptions
  • Humble Bundle: accept the Bitcoin digital currency as a payment
  • Big Fish Games: games can be purchased directly from Big Fish with bitcoin

Travel

  • Expedia: accepts BTC for hotel bookings and is planning to introduce it as a payment option for flights, activities, and more
  • AirBaltic: accepts Bitcoin payment for a variety of flights
  • Virgin Galactic: accepts Bitcoin

Restaurants and supermarkets that accept Bitcoin

  • Subway: accepts bitcoin in various locations all over the world
  • Burger King: accepts bitcoin in various locations all over the world
  • Whole Foods: accepts bitcoin in various locations all over the world

Education

  • Treehouse: accepts Bitcoin for a variety of courses
  • Curtin University: accepts Bitcoin for a variety of courses
  • The King’s College: accepts Bitcoin for a variety of courses
  • European School of Management and Technology (ESMT): accepts Bitcoin for a variety of courses

Luxurious ways to spend Bitcoin

  • BitCars: allows users to buy cars using Bitcoin
  • AutoCoinCars: allows users to buy cars using Bitcoin
  • Bithome: allows users to buy and sell real estate with Bitcoin
  • Prestige Cars Kent: allows customers to purchase cars with Bitcoin
  • Prestige Time: allows you to purchase luxury watches with Bitcoin
  • Denison Yacht Sales: allows you to purchase Yachts with Bitcoin

With all of these different retailers jumping on board to accept cryptocurrency, it might not be long before we’re spending cryptocurrency in the same way that we swipe our credit cards at every local retailer. 

The information provided is for educational purposes only and is not intended as investment advice for anyone. All information discussed is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. The views presented today are those of Wealthcare Financial and do not necessarily represent the views of AlphaStar Capital Management, LLC. The opinions expressed are subject to change without notice and do not constitute financial, legal or tax advice. Please consult your financial professional before executing any financial strategy.  Investment Advisory and financial planning services are offered through AlphaStar Capital Management, LLC, an SEC registered investment adviser. AlphaStar and Wealthcare Financial are independent entities.

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