What can I buy with crypto? How to spend cryptocurrency: Spending crypto is great in theory but how does it work in reality? We explain the ins and outs of spending crypto in the real world in this article.

is not just something the “crypto bros” or the “crypto sisters” buy and sell to make profits (that they boast about all over X) or losses (that they cry about all over X).

Bitcoin was originally invented as an alternative to mainstream money systems. Literally, a peer-to-peer payment system that let users ditch banks and governments if they wanted to. All people needed to use it was a phone.

People in places with struggling economies who can’t get a bank account (sometimes simply because they don’t have an official address) could now be part of a global financial system that previously excluded them.

Relatives working abroad could send money home directly to their loved ones’ crypto wallets on their phones, without having to wait days for banks or other payment services to clear the funds (and charge them seriously high transaction fees).

While there are fees involved in sending crypto abroad, in a lot of cases these fees are miniscule compared to the traditional money system.

Cryptocurrency: Speculation vs everyday spending

While cryptocurrency in general has seen a lot of speculation and investment purely for profit-driven reasons, crypto can be used as a way to pay for things. In fact, in , it is . It’s alongside fiat (everyday money).

While the uptake of paying in crypto hasn’t been as fast as initially thought, this may change as Bitcoin and other cryptocurrencies become more popular and using them gets easier and faster.

Using a cryptocurrency card to spend crypto

A crypto card is a debit or credit card that allows you to spend your cryptocurrency at any retailer that accepts Mastercard or Visa.

It functions exactly like a standard debit or credit card. But for purchases you use your cryptocurrency balance rather than fiat money.

Real-time cryptocurrency to fiat currency conversions take place, and mobile apps let you keep track of your balance.

They offer a convenient way to use cryptocurrencies for regular purchases.

Types of cryptocurrency purchases

The number of merchants who accept cryptocurrencies is expanding quickly, and you can now use them to buy a variety of goods and services. Hopefully, more merchants in the future will accept crypto. Here are some of them.

Online purchases

Many online merchants now accept cryptocurrency as a form of payment. An example is .

Travel and hospitality

Some travel and hospitality companies accept cryptocurrency as a payment method. For example, lets you book all sorts of holidays and add-ons using crypto.

Restaurants and bars, other merchants

You can also use cryptocurrency to pay for food and drinks at . There are other businesses that also accept crypto.

Gaming and entertainment

Many gaming and entertainment platforms have where you can buy things using crypto.

Real estate

Some and property developers now accept cryptocurrency as a form of payment. This option is particularly popular among buyers who value the privacy and security of their transactions. are also starting to accept Bitcoin.

The future of crypto purchases via a crypto wallet or a crypto card

As technology advances, the future of crypto purchases will become more convenient. Spending using cryptocurrencies has some solid advantages, like value for money transaction fees, and fast transactions.

Plus, blockchain technology makes crypto purchases secure and transparent.

But… there’s always a “but”..! The volatility of the crypto market remains a challenge for widespread adoption, as well as the lack of regulation in some jurisdictions.

Tips for safely and securely making purchases with cryptocurrency

When buying with crypto, before making a purchase, double-check the transaction details, including the amount you are spending, the recipient's address, and the transaction fee. This is to ensure that you are sending the correct amount to the correct address and not paying unnecessary fees.

Second, think about using an when conducting a peer-to-peer transaction. A third-party intermediary known as an escrow service holds money or other assets until the transaction is finished on behalf of two or more parties.

By doing this, it will be ensured that the money is held in a protected manner until the transaction is satisfactorily finished. This is particularly crucial if you don't know the seller and/or the transaction is for a sizable sum of money.