Finances & Money

How To Spend Your Bitcoin Funds

Not everyone is properly aware about Bitcoin and the profits that it can make you, but once you’ve gained a better understanding and overlooked the volatility of the cryptocurrency, you can begin to see how profitable they actually are. Generally, investing in Bitcoin is very interesting, however spending them is a little trickier at the moment as many industries and retailers are trying to adapt to this new form of payment. Many people prefer to spend their Bitcoins on online bitcoin games, but what if you want to use them to purchase a new designer bag or DVD? All of your questions can be answered right here.

How To Use Your Cryptocurrency

While we are still waiting for retailers to adjust to the new cryptocurrency movement, many major retailers have already jumped on the bandwagon. On Amazon and Walmart for example, Bitcoin is accepted as a payment method with no complications, allowing you to use Bitcoin to your heart’s content. However, the list of accepting retailers is limited, which is where apps such as Gyft come in super handy. With this to hand, you can use your cryptocurrencies to purchase a gift card, and then use them on standard brands such as Starbucks and Nike, making the spending process seamless.

Alternatively, you could use a service such as Shakepay, which aims to convert your saved Bitcoins into USD or Euros for a fee. With applications like Gyft and Shakepay at the end of your fingertips, spending your Bitcoin funds on everyday products is easier than ever, however are there other methods out there, and are there any other specific retailers and brands that will accept the cryptocurrency?

Cryptocurrency Debit Cards

As you may know, Bitcoin isn’t a tangible currency that you can just hand over to the cashier, so how can you physically spend them in store? Well, one way to achieve this would be to link Bitcoin to your debit card, as this will allow you to spend the cryptocurrency just like you would with cash. These cryptocurrency debit cards are issued by the major credit card companies, including the likes of MasterCard and Visa. If you’re interested about which cards are available for Bitcoin spending, here are a couple:

  • CoinsBank: this cryptocurrency exchange platform has a total of four cards available, each coming with their own features. Bitcoin is automatically converted into numerous different currencies of your choosing using CoinsBank, including the popular US dollar and British pound.
  • Xapo: this card will connect your Xapo account to a credit or debit card, allowing you to spend your Bitcoin online or in store. Furthermore, this platform comes with an app that helps you to keep track of Bitcoin spending, as well as information on the current value of Bitcoin.

Places Where You Can Directly Spent Bitcoin

Alongside Amazon and Walmart, there are other brands and retailers that are more than happy to accept Bitcoin as a form of payment, however you might not be aware of them. To make it easier for you, we’ve divided a select few retailers into categories:

  • Online retailers: Dell, TigerDirect, Overstock
  • Flights/Hotels: CheapAir, Holiday Inn, Expedia
  • General Services: Gaming Credits, Treehouse, OKCupid

Obtaining a large volume of Bitcoin is great, as long as you’re aware on the methods available to spend it in today’s economy. Luckily, there are many options available to Bitcoin spenders, allowing you to happily spend your cryptocurrency on almost anything, from pizza to a hotel stay!


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Susan Paige

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