Cryptocurrency has been around for over a decade, and it has changed everything about how we manage our finances. Without a doubt, cryptocurrency and its underlying technology, blockchain, is here to stay.
However, one of the most common barriers to global cryptocurrency adoption is questions such as, "How do I spend my cryptocurrency in real life?" "What can I purchase using cryptocurrency?" "Can cryptocurrencies function effectively as legal tender?" "How do I use cryptocurrencies in everyday transactions in the same way that I use conventional currency?"
These questions are some reasons why individuals hesitate to invest in cryptocurrencies or use them as a payment method for everyday purchases. You are not alone if you have any concerns or objections to adopting cryptocurrency. In fact, you're still incredibly early because millions of people are unaware of cryptocurrencies.
With cryptocurrency considered the "future of money" and its widespread use across numerous industries, you must understand cryptocurrency and know the best ways to spend your digital currencies in real life.
In this post, we will look at three simple ways to spend your cryptocurrency in real life without worrying about converting it to your local currency before utilizing it for everyday expenses.
Simple Ways to Spend Your Cryptocurrency Everyday
When most people think of cryptocurrency, they consider it as a store of value and an investment asset with the potential for high returns. While this is correct to a large extent, it is not the only reason for cryptocurrency's existence.
However, due to its decentralized and secure nature, cryptocurrency has emerged as an alternative to existing payment systems. Consumers across all industries are quickly adopting the new technology of cryptocurrencies for routine payments and purchases, owing to the possibility of faster and cheaper transactions with increased security and privacy.
Apart from its faster and cheaper transactions with increased security and privacy, using cryptocurrency for everyday purchases protects you against commodity inflation, allows you to maximize your savings, protects you from several recurring consumption taxes, and helps you regain control of your finances.
Spending cryptocurrency in real life for everyday purchases has so many benefits. Interestingly, spending cryptocurrency in real life without worrying about converting it to your local currency is easier than you think. Here are three simple ways you can spend your cryptocurrency in real life.
Mobile Phone Recharge and Top-up
What better way to spend your cryptocurrency than using it for an essential need like recharging your mobile phone with airtime or data bundle? Paying your phone bills like the internet top-up and airtime recharge has to be the most popular and practical way to spend your cryptocurrency in real life.
Many mobile service providers now accept payment in digital currency. Users can benefit from faster and cheaper transactions and greater security and privacy by paying for these services using cryptocurrency. Because it is simple to set up, using cryptocurrency for phone recharge and top-up is one of the easiest methods to spend your cryptocurrency.
What do you need to recharge and top up with cryptocurrency? You only need cryptocurrency saved in a crypto wallet, the phone number you want to pay the internet bills, and a payment processor. You don't need a third-party payment processor or your service provider's authorization. Therefore, with just a crypto wallet that has mobile top-up features, you can easily recharge your phone and top up with cryptocurrency.
Cwallet is one of the few cryptocurrency wallets and payment processors that allow mobile top-ups with cryptocurrencies such as Bitcoin, Ethereum, USDT, BNB, and 800+ others with its Crypto Mobile Refill features. Cwallet is a cryptocurrency wallet service that combines the functions of centralized and decentralized wallets in a single app, allowing you to securely store cryptocurrencies, send and receive assets, and purchase airtime as needed.
Online Shopping (E-commerce)
Shopping is one of the most engaged financial activities by humans. People love to buy things they love or that solve their problems. As a result, shopping, either online or in physical stores, is another simple and practical way to spend your cryptocurrency in real life. Several online platforms have adopted the use of cryptocurrencies as a payment option for consumers due to its numerous benefits, particularly in opening up a new market of borderless transactions. Large and small online retailers are adding crypto payment gateways on their websites to facilitate easy transactions.
When you use cryptocurrencies for online purchases, you get faster and cheaper transactions without paying high transaction fees. You can benefit from faster and cheaper transactions and greater security and privacy by paying using cryptocurrency. For example, if you want to purchase from an ecommerce website that accepts cryptocurrency, you may use your digital currency wallet to complete the transaction; this eliminates the need to submit sensitive information such as credit card details, which can reduce the risk of identity theft.
Physical Shopping (In-store Purchase)
Similarly, cryptocurrency can also be used in physical store transactions. Brick-and-mortar businesses that accept crypto payments use Bitcoin debit cards, direct wallet deposits, and QR code payments. Most physical stores use a point-of-sale terminal to accept crypto payments, so you may need to use crypto debit cards, which allow you to spend your cryptocurrency like a traditional debit card.
Although payment via QR code is the most frequent in physical stores, you don't need to worry about having a crypto debit card. All you have to do to spend your crypto there is scan the barcode, and your transaction will be completed instantaneously.
If you own a physical store and want to accept cryptocurrency payments, you can utilize the Cwallet request tool. With a single QR code, you can create short invoices and accept over ten cryptocurrencies, giving you various crypto payment options.
Similarly, if you're an e-commerce business owner wishing to integrate a crypto payment gateway into your website, you can test the Cwallet Payment Button, which allows you to accept payments on your website and credit them into your wallet for free.
You don't have to let "How to spend my cryptocurrency in real life" be the barrier stopping you from adopting and investing in cryptocurrency. With these three simple things mentioned above, you can easily spend your cryptocurrency directly without worrying about converting to your local currency.
Also, you can use your cryptocurrency for everyday transactions such as phone bills, online shopping, in-store shopping, and much more with Cwallet! Cwallet is the best solution for anyone looking for a simple and convenient way to manage their crypto holdings and make everyday purchases with cryptocurrency. Cwallet offers a variety of services that make interacting with crypto assets simple, whether you are a casual crypto user or a business owner.
So, what are you waiting for? Download Cwallet and use your crypto assets for daily payments and purchases.