Are you looking for ways how to spend your bitcoin or other cryptocurrencies usefully? Or are you interested in what you could buy if you had a Bitcoin or two?
If you can answer yes to one or both of those questions, then reading this blog post can help you to get the knowledge you want.
I suppose we all know what’s cryptocurrencies to some extent, so here you will find more actionable steps than definitive ones.
You will find a way how to spend your crypto coins or you’ll know a way how to spend the coins when you’ve earned them.
Of course, it is a fact that the cryptocurrency market is still elastic, but at the same time you have to realize that a huge number of businesses are jumping on the fast-moving cryptocurrency wagon – and that is a positive sign for investment and getting used to spending it will make you more familiar with cryptocurrencies.
Also, keep in mind that the number of businesses getting into cryptocurrencies is constantly growing.
And that is one of the big reasons why we’ve published this post to help you understand, and learn ways how to spend crypto coins for things, that are essential to you.
First, The Technical Stuff
Before we start using our cryptocurrencies and spending them, you should know some basic things like cryptocurrency wallets so you can have a place where to keep your worthy coins.
There’s a variety of cryptocurrency wallets you can choose from:
- Desktop wallets. Software called Cryptonator is necessary for you to send and store cryptocurrency addresses.
- Online wallets. Platforms like Coinbase or Circle can store the cryptocurrency keys online and the pro is that they can be accessed from anywhere.
- Mobile wallets. This one is my favorite – all you need is your mobile device and an app like Blockchain that will both store and encrypt your bitcoin keys for you, so you can make payments with your mobile device.
- Paper wallets. This type of wallet isn’t a popular one, but it still works. Usually, the paper wallet services are offered by a website and what they do is, generate a piece of paper it has two QR codes on it. The two QR codes are different – one is the private address that is used for spending and the other one is, yes, you guessed it – the public address that is needed to receive cryptocurrency. It might sound a bit more complicated than the other wallets, but you surely can get used to it.
- Hardware wallets. This is the old-school way for real OGs – you have to use a USB device that is made for storing crypto coins and your private address keys.
Now, enough technical talk, let’s get into ways of using and spending our beloved crypto coins.
1. Investing In Yourself (Or Others)
Believe it or not, there are educational institutions that accept bitcoin as the payment for education all over the world and the number of those schools and universities is growing, and you know what else is growing with that? The interest in Bitcoin and cryptocurrencies.
2. Donate For A Good Cause
You can do a great job by donating your crypto coins to charities.
With the growth of interest and industry of cryptocurrencies, many organizations and projects have started using it as a payment method, including charities.
Some of those charity projects are:
- AidCoin. Through this project, you can make donations to well-known and recognized charities like WWF, Save the Children, and UNICEF.
- Commit Good. This project is built on blockchain technology, the same as the AidCoin project, only Commit Good is a little bit more democratic, I would say because it works by users voting in their opinion for the most impactful projects that organizations have listed. It’s worth noting, that it really works because the most impactful project receives an award of $10,000 at the end of the month.
3. Buy A Car, House Or Whatever Is Essential To You
It doesn’t matter what you want to buy or use crypto coins for – a trip to Hawaii, a new car, or a house for your family, you can buy things with cryptocurrency you would buy with regular currency, because you gotta remember that the goal of cryptocurrencies is to replace regular currencies, hoping that it would be safer and faster.
You can buy almost anything you’d buy with regular currencies with cryptocurrencies and the options are becoming more and more.
It Is Up To You
Hopefully, you’ve realized that you can use your cryptocurrencies for many things, and in the not-so-far future you’ll be able to use your crypto coins for buying literally everything.
Also, I want you to remember that you have to keep learning about cryptocurrencies to make sure your little coins are safe.
