Most people buy and socket cryptocurrency in the hope that it will one day replace fiat currencies and therefore gain in value. However, more and more, some are look for spend that too, with 40% of crypto holders planning to make a purchase next year, according to a recent poll.
While the options for doing so are still limited (and convoluted), retailers are offering a growing number of ways to actually use your crypto as currency..
Here’s a look at some of the things you can buy with crypto, right now:
- Gift cards: In exchange for currencies like Bitcoin and Ehtereum, sites like eGifter and Gift offer gift cards for all kinds of retailers, like Sony, the NBA Store, Spotify, Southwest Airlines and Nordstrom. Of course, gift cards are an extra hassle if you prefer spend directly with these retailers—but for now, gift cards allow you to spend at a wide variety of retailers who don’t normally accept crypto.
- Sport events: NBA Sacramento Kings, Dallas Mavericks, Miami Dolphins Accept Crypto For Tickets, just like the San Jose Sharks of the NHL. MLB Oakland A’s now accept Bitcoin for a number of luxury suites as well.
- Household items: US based retailer Overstock offers home furnishings, home improvement materials, as well as jewelry. They also take Bitcoin directly, with no middleman app or gift card exchange required.
- Coffee: You need an app called Bakkt for this, but it is possible to convert Bitcoin to Credits on the Starbucks app. If you are already a regular customer and application user, it could be a convenient way to spend crypto.
- To travel: All kinds of travel agencies accept crypto for airplane and hotel bookings (we’ve published an article on All Your Options here). The star is Travala, which has a partnership with Expedia; crypto holders can also spend it at more than 700,000 Expedia Group hotels and accommodations.
- Art: Sotheby’s auction houses and Christie’s accepts Ethereum and Bitcoin cryptocurrencies for large item auctions. And while this art would be entirely digital, you could dip your foot into the highly speculative world of non-fungible tokens, or NFT. There are a bunch of markets to choose too.
- Porn: Mindgeek, which runs a bunch of porn sites (including Pornhub), accepts cryptocurrency, just like Chaturbate. As the New York Times points out, the cryptocurrency can be used anonymously, making it the preferred payment option for people who don’t want their expenses to draw.