What Can You Buy with Cryptocurrency?

With the development of the crypto industry, many people are thinking not only about how to buy cryptocurrency, but also about what it can be spent on. This is what we will discuss in our article as well as where to buy cryptocurrency.

What are there to buy for crypto?

Of course, cryptocurrencies are primarily considered as investment tools. However, as the industry continues to develop, new avenues for their utilization are emerging. 10 years ago, only a handful of individuals showed any interest in cryptocurrencies. Yet, presently, it is possible to use crypto to make payments for a wide range of goods and services, ranging from a cup of coffee to real estate. Let's explore a few examples of what can be purchased with cryptocurrency:

• in 2014, an American store called Overstock allowed to pay for a number of goods with BTC;

• the Starbucks coffee chain, in collaboration with the Bakkt platform, gave customers an opportunity to buy coffee for Bitcoin;

• in 2020, Shopify enabled sellers to accept hundreds of different cryptocurrencies;

• in the spring of 2019, a house was put up for auction in Australia, bids on which were accepted in two cryptocurrencies: BTS and Binance Coin (BNB).

However, you should remember that there are some things to remember:

• due to its high volatility, the value of cryptocurrency can change in a second, and the fiat value of a product with it;

• not many companies and businesses accept crypto as payment;

• merchants prefer traditional currencies due to the difficulty of implementing payments in cryptocurrencies.

Where to buy crypto?

The question of where can you buy cryptocurrency is quite simple. Centralized crypto exchanges are considered to be the most convenient and safe place for crypto traders. An example of such a platform is the largest European crypto exchange WhiteBIT, with more than 270 assets available to users. You can buy crypto by depositing fiat currency (EUR, USD, etc.) from a bank card to your balance and then placing an order to buy the cryptocurrency you want.

Despite how young it is; the cryptocurrency industry is already a part of our everyday life. Another big question is which crypto to buy, and it's a topic for a separate article.