Buying with cryptocurrencies: how and where to pay

The use of cryptocurrencies for purchases is becoming more widespread as businesses and merchants increasingly recognise the benefits that cryptocurrencies offer.

While the use of cryptocurrencies for purchases is not as widespread as the use of traditional currencies, there are many ways to do so and the number of options is growing.

Purchasing with cryptocurrencies can be done in the following ways

Direct purchase

Some merchants and businesses accept cryptocurrencies directly. These are usually technologically advanced businesses such as online retailers, software developers or game manufacturers.

The payment process is similar to that for sending cryptocurrencies: the buyer needs to enter the merchant's public key (address) into their wallet, set the amount they want to pay and confirm the transaction with their private key.

Cryptocurrency-based debit cards

Some providers, such as Crypto.com or BitPay, offer special debit cards that allow users to use their cryptocurrencies directly, in a similar way to traditional currencies.

These cards are usually linked to a digital wallet in which users can store cryptocurrency.

When users use the card, the provider automatically converts the cryptocurrency into the local currency.

Online marketplaces

Many online marketplaces, such as district0x, are specifically dedicated to cryptocurrency purchases. These platforms connect buyers and sellers and allow direct exchange of goods and services for cryptocurrency.

As for the specific places where cryptocurrencies can be bought, these include online merchants, technology businesses, hotels and restaurants, and even some non-profit organisations.

However, it is worth noting that while some larger companies, such as Overstock.com and Tesla, accept cryptocurrency, most small businesses do not.

The prevalence of cryptocurrency payments depends largely on location and industry!

Purchasing with cryptocurrencies is becoming more common, but still less common than using traditional currencies. As the technology develops and cryptocurrencies become more widely accepted, it is expected that there will be more and more opportunities to buy with cryptocurrencies.