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Well, cryptocurrencies have been making headlines everywhere, all over the world. People are making fortunes off the new trend, and there doesn’t seem to be a shortage as more cryptocurrencies are coming into the market.
But are cryptocurrencies being used for what they mean – “currencies”?
To be a currency, an instrument should function as legal tender. Meaning that if I have bitcoin, I must be able to use that bitcoin to pay for my restaurant bill or buy a car. If cryptocurrencies are only used as investment tools to make money, they shouldn’t be called cryptocurrencies.
There are several advantages to using cryptocurrencies. First, cryptocurrencies are borderless, transparent, and instant. With cryptocurrencies, anyone can buy and transact anything from anywhere in the world.
And that’s why we have compiled a list of some of the best platforms online where one can use their Crypto.
Platforms accepting Crypto
OverStock – The First Major Adopter
Overstock was the first major online retailer to start accepting bitcoin. Patrick Byrne, the CEO, has long been a massive supporter of cryptocurrency and blockchain technology. He is routinely asked to speak at blockchain conferences worldwide in favor of the trend. Today, Overstock accepts more than just Bitcoin; the company also accepts ETH, BCH, LTC, XMR, and DASH. To pay with bitcoin, one has to choose the item, select bitcoin on the payment screen, and make the payment.
Microsoft Online Store
Microsoft shocked the world in 2014 when it announced that it would accept Bitcoin for purchases on its online store. As a result, you can use Bitcoin to fund your Microsoft account, which can then be used for purchases. This reflects the thoughts of founder Bill Gates, an avid supporter of technology.
Microsoft has always been known for experimentation, and this is not less. Users can use Bitcoin and other cryptos to purchase Microsoft Office tools, games from the Xbox online store, and hundreds of different products.
Purse.io – Buying from Amazon with Crypto
Purse.io was launched with the goal of “making crypto useful.” Today, Purse is an online marketplace that allows anyone to get an Amazon discount of up to 33% off anything by naming their discount and paying with cryptocurrency. Amazon does not officially accept bitcoin payments, but one can buy anything from Amazon indirectly through Purse.io.
Just buy an Amazon gift card through Purse.io and then start shopping on Amazon. You can also sell Amazon gift cards for bitcoin through purse.io. Users can even ask others to buy their amazon wish list in exchange for Crypto.
Expedia – Travel with Crypto
Expedia is one of the world’s largest travel websites. The company offers an extensive selection of hotels, flights, rental cars, travel packages, and more. In 2017, Expedia became the first significant travel website to accept bitcoin, thanks to a partnership with Coinbase. Today, Expedia accepts bitcoin in exchange for flights, hotels, car rentals, and packages.
Crypto Donations – Give Back to the World
Although not mainstream, Crypto donations are the most revolutionary change that bitcoin brought. Traditionally, accepting and giving donations was known to be a tedious and time taking process. For instance, if I wish to help people from Africa, it will be tough for me to do so. I would have to exchange my native currency for accepted currency, go through several intermediaries, and waste a lot of time completing formalities. With Bitcoin, there was now a mechanism to send money to anyone worldwide at any time. This made accepting donations even faster.
One of the first mainstream adopters of cryptocurrency donations was Wikipedia, Inc. In 2013, Wikipedia started accepting Bitcoin donations and saw a tremendous rise in people willing to donate money. Other significant institutions accepting crypto donations are UNESCO, Greenpeace, and The Red Cross Society.