In the last couple of years, the cryptocurrency industry has come out of the shadows and entered the mainstream realm of finance. Although the sector has seen incredible popularity, adoption remains slow. Paying for day-to-day essentials using cryptocurrencies continues to stay out of reach. Or is it?
As it turns out, paying for some basic amenities with cryptocurrencies might not be that difficult. In fact, the first business transaction for Bitcoin (BTC) was used to buy two pizzas for 10,000 BTC.
Buying food and paying bills with cryptocurrencies
Depending on user preference and requirements, there are several ways to buy food and pay bills using digital assets, such as BTC. Three methods are more common than others. To begin, users will need to have some currency.
Crypto cards:
Crypto cards are similar to conventional debit or credit cards. However, they enable customers to make payments using their digital assets. They transfer money to the merchant’s end while withdrawing coins from the user’s wallet.
It enables users to pay regular bills using cryptocurrency without struggling to identify merchants that accept the payment method. Also, many crypto card providers now have mobile apps that enable customers to use Bitcoin (BTC) or other currencies wherever they are.
BlockFi and Gemini are two businesses that provide cryptocurrency credit cards. Other businesses, such as Coinbase, Crypto.com, BlockCard, Binance Visa Card, and BitPay, however, now provide cryptocurrency debit cards.
Bitcoin-powered bill pay services:
Bill-pay businesses like Coinsfer in the US accept BTC to pay for subscriptions, bills, and merchandise on behalf of their clients. Customers must email URLs to the things they wish to buy using BTC, and Coinsfer will then give them the order price (including shipping charges). Coinsfer pays for customer orders that they can track after receiving payment from the client.
Crypto food delivery portals:
Cryptocurrency food delivery services are linked to numerous restaurants and bars in many different areas. It functions similarly to a website or app for ordering takeout from nearby restaurants and paying the platform with cryptocurrency as opposed to the takeout vendor.
Gift cards:
Consumers can use bitcoins to buy gift cards for a number of meal delivery businesses. Thereafter, they can use the redeemed gift cards to make online payments for their meals. Gift cards for bitcoin make it easier for customers to buy and sell goods from participating merchants. Gift cards are sold by a variety of businesses, making it simple for customers to choose one that meets their needs.
While retailers like Amazon and Walmart do not directly accept Bitcoin, they do accept cryptocurrency gift card services. After that, consumers can utilize Bitrefill to immediately pay for food in BTC using a cryptocurrency gift card. This website provides over 1600 products across 170 nations with gift cards, prepaid cell refills, and Bitcoin Lightning Network services.