What are your biggest concerns regarding cryptocurrencies?
- That one day, you will wake up to read the headline that your country has declared it illegal.
- How secure are cryptocurrencies?
- There are not many places where I can spend even if I buy cryptocurrencies.
I can only think of three. Other than that, cryptos are only money. And no one has any problem with money as long as it’s coming in and not going out.
Well, let’s address these concerns one by one.
You think one day this will all turn out to be a big bubble and become illegal. Well, talking solely on proof that is in front of our eyes: there’s more chance of it not happening than it happening.
Yes, cryptos are not a substitute for legal tender anywhere, but some countries allow trading in Bitcoins. The list is small as of now, but it will undoubtedly grow as more and more people become owners of cryptos.
According to Investopedia, the United States, Canada, Australia, and the European Union have somewhat of a positive stance towards Bitcoins. And this list is growing.
In 2021, emerging markets like the Philippines and Costa Rica had integrated cryptocurrencies in their financial systems in some way or other.
So, there goes your first concern.
Let’s take the second concern. Cryptocurrencies are very secure. It is named crypto, and we know from Hollywood movies how tough cryptic things are to crack (pun).
But seriously, the entire crypto ledger is on blockchain technology and is publicly available for anyone to see.
In the crypto trade, you don’t have to give the personal details that your banks ask for. So, no threat to your data. Yes, there is no 100% security, but you also trust banks despite them getting robbed almost daily.
Now your third concern. You are wrong if you think you can’t buy many things with cryptocurrency. By the end of this blog, you’ll have a list of six things you never thought you could buy with Bitcoins or other cryptocurrencies (and I’m not talking about candy bars and gums).
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Buying cars with cryptocurrencies has never been this easier. There are automobile dealerships that allow payments in Bitcoins.
Try out online marketplaces if you don’t find any luck with these dealerships. They allow you to become a car owner in exchange for cryptocurrencies. What they do is that they offer a platform where automobile dealers – that accept cryptocurrencies – and customers meet.
From sedan to high-end Lamborghini, you can find everything here. So, say you want to get your hands on an Audi R8. All you have to do is search one of these marketplaces, and if you find the car there, bingo! You make a deal with the seller whom you can either pay in crypto money or change yours in fiat and pay.
That’s how easy it is to buy a car with cryptocurrency.
Yes, cryptocurrency has made its way into the real estate sector too. It’s not a new thing. Someone bought a house and paid for it in cryptocurrency back in 2017.
There is a whole real estate project in Dubai for those who want to pay in Bitcoins.
Relators are now open to payments in cryptocurrency. If you find a house of your choice and a realtor who takes cryptocurrency, then the transaction takes place just like an ordinary sale.
If you do not find any willing relator, go for private sales. There are sellers who accept payments in cryptocurrency. If you find one, then just sit with your lawyers, write a contract and get on with the sale.
The advantage of buying a house with cryptocurrency is that transactions are swift, and the transfer won’t cost you hundreds of dollars in fees.
On a side note: There is a list of 11 glorious homes you can now buy with Bitcoins on the New York Post. Do check that out.
So you have got a home you want to furnish to decorate. Worry not. There’s a place for that too.
You can buy furniture with cryptocurrency at major online retail outlets like Overstock. Since 2018, they have been accepting Bitcoins for items people buy from the website.
They have invested heavily in blockchain to keep track of all the transactions happening in cryptocurrencies.
Other stores like Home Depot also accept Bitcoins as a mode of payment.
Fancy going on a vacation without having any money in your account? Well, try funding your holidays with the money in your crypto wallet.
At online ticket booking websites like Expedia, Destina, Abitsky, or Cheap Air, you can pay for your flight tickets with cryptocurrencies.
You can also directly buy tickets from Air Baltic, which became the first airline in 2014 to accept Bitcoins as payment.
Newegg, a US-based prominent eRetailer that sells consumer electronics, entertainment, smart home, and gaming products, began accepting bitcoins in 2014.
There are others like Tiger Direct, Sears, etc., where you can pay in cryptocurrencies for your purchases. If none of this workout for you, there are several crypto-specific online retail stores that only accept payments in cryptocurrencies.
6. A college degree
Ok, I am sure if the 5 other items didn’t blow you off, this one definitely did. Are we really talking about funding a college degree with Bitcoins? Yes, we are. In 2014, New York City’s Kings College announced that they will accept Bitcoins as tuition fees.
The Lucerne University of Applied Sciences and Arts in Switzerland, the European School of Management and Technology (ESMT) in Berlin, The University of Nicosia in Cyprus, and Flinders University in Australia are some other universities that give an option to pay your fee in cryptocurrency.
These are just a few things that you can buy with cryptocurrencies. The list is even longer. From Subway to burgers, to art, to even yacht and jet. If you have cryptocurrencies, you have enough places as well to spend them.
Think of anything that you can buy with fiat money, and you can be sure that someone somewhere is selling them in Bitcoins or Ethereum of whatever hundred other cryptocurrencies there are.
Since we have addressed your biggest concerns regarding cryptocurrencies in this blog, you can safely turn your dream of being a crypto owner into reality.