How to Spend Bitcoin?

[samputin]

Hi Y’all,

I don't know how about you guys but I'm really bored being quarantined in my flat. So I did the “Best” thing possible. I started to shop online. I had some bitcoins left so I decided to spend them as well.

And it turned out that was an adventure in itself. 

That was a nice experience, for sure. I also tried to do the best out of my quarantine life but unlike you, I didn't spend any bitcoins. It's because I do not have enough. I wasn't a part of any campaign during the last few months and it was my only source of btc. So my goal now is to increase my btc, hold it and spend when I deem necessary.

So I compiled my favorite options of spending bitcoins in an article, which I managed to publish on Paybis.

In case you are interested, you can check it out here: https://paybis.com/blog/how-to-spend-bitcoin/

This is a nice compilation. And it gives me some idea on how I should spend the bitcoins I will be able to earn from my campaign. As far as I know, there are already some online shopping platforms, and travel booking applications that accepts crypto currency such as bitcoin. That might be the number one on my list on how and where to spend my crypto.

[1715305574]

1715305574

[1715305574]

1715305574

[Ladysmith]

How to spend Bitcoin? Just as you would spend any other currency, to buy goods and services.

Decentralized markets such as the Virie Market https://www.virieproject.com/) make it possible for the average Joe to buy goods and services with Bitcoin and other cryptocurrencies legally.

Once people realize that transactions are cheaper, faster, and more secure with DEFI, it'll catch on and make life a hell of a lot better for billions of people. Bank accounts are no longer necessary. No discrimination. 

[skarais]

Bank accounts are no longer necessary. No discrimination. 

No, even if you can legally spend bitcoin anywhere and anytime, you still need to have a bank account to refill balance your bitcoin balance in wallet. So far I have not found a way how someone can buy bitcoin on the exchange or a bitcoin atm without a bank account.

[KenshinKen]

As far as my concern, Bitcoin isn't totally worth to use for Online Shopping. Might as well convert some cash and use it as a payment method. I do believe someday, Bitcoin is the future of money.

[Twentyonepaylots]

Bank accounts are no longer necessary. No discrimination. 

No, even if you can legally spend bitcoin anywhere and anytime, you still need to have a bank account to refill balance your bitcoin balance in wallet.

Bank account is still necessary, we are going to have a hard situation if we don't have any money in the bank and if we only have a cash. I feel uncomfortable when I have too much cash in my pocket, I feel like I'm obligated to spend it, that is a yikes for me I know, but honestly having a bank account to save your money is important these days. You can't spend bitcoin anytime you want, you would not like spend in undervalue.

So far I have not found a way how someone can buy bitcoin on the exchange or a bitcoin atm without a bank account.

I know there are some banks that offers this kind of money transfers, I'm not sure if it is on coinbase or in any other exchange but I'm pretty sure I've read somewhere that there are some.

[XCANA]

Investment was meant to be spent, bitcoin spending is recommended because that was the primary aim of Bitcoin creation and not hold all the whole life. Spending your bitcoin shopping online is one of the best anyone can give to bitcoin and not just holding the portfolios against years to come. I will do same with bitcoin here because I love using the digital currency to transact business online. For those who are holding bitcoin to eternity, that was not how bitcoin was meant for, it was for spending online or offline.

[fullhdpixel]

I do know many places where I can spend my Bitcoin, but I haven’t for once had interest in spending my coins on anything.
I know lots of places and the first I got to know about is Overstock, and I do know that we can make use of Purse.io to make orders from Amazon, make payments in bitcoin and even get up to 15% plus discount, but I still never used my coins for any of these, because it has never been something that I am interested in. It’s cool but I’m still not interested, I just make normal transactions with my BTC and then save the ones I want to save as an investment for my retirement life.

[dersu18]

Before you can start figuring out how to spend your bitcoin more wisely, you first need to understand where your bitcoin is going. Make a budget and track both your income and your expenses. Once you know where your bitcoin is going, you can start looking for opportunities where it could be better spent.

[koang]

I will never spending my Bitcoin on shopping. I'm here to gains.
My portfolio gets topped up for the long haul Bitcoin boom.
Shopping etc., I use cash, visa debit. As usual
I spend my $ 20 or $ 30 BTC on shopping. I would have had $ 200 had i held
So why should I spend my Bitcoin to shop?

[dersu18]

If you are considering entering the crypto universe or if you’ve only recently made your first investment, you might still be exploring the benefits of bitcoin as opposed to your credit card, online bank account or digital wallet you are used to. In an abstract sense, cryptocurrencies represent financial evolution which manifests itself in unique and tangible ways compared to fiat money.

[ralle14]

As far as my concern, Bitcoin isn't totally worth to use for Online Shopping. Might as well convert some cash and use it as a payment method. I do believe someday, Bitcoin is the future of money.

That depends on the product or service you're looking for imo it's worth to spend Bitcoin online now that a lot of merchants are accepting bitcoin. And there's always another option available thanks to a few crypto exchanges that lets you have a bitcoin debit card. With that said we could spend our bitcoins easily on most stores that only accept fiat and credit card payments.

[Kakashibrullo]

We need people like you who really think of spending because when people are willing to spend, that will create an adoption.
If you ask me, I think you should spend bitcoin like what you like to do, though not much you can buy online with bitcoin, but you can enjoy online especially if you love gambling, my recommendation is spend it in gambling and have fun.

I don't like gambling and I think it's a waste of time. What other ways to use Bitcoin?

[ChiBitCTy]

I cannot find any real reason why you should spend your bitcoins in order to shop online.
In my opinion, Bitcoin has a bigger value than the one right now so it is not worthy spending them for shopping. It is better to keep them in your wallet and consider it as your investment. If you want to buy something online use a stablecoin...

This is exactly the opposite way to think when it comes to spending bitcoins.  If no one ever spends their coins, then their use case will only go down, in turn making them less valuable in the long run.  There are plenty of ways you can spend bitcoin and everyone who supports bitcoin should spend theirs in commerce as often as possible.

[Zionatin]

I am getting upset because there are fewer places accepting bitcoins here instead of more. A payment processor used it and therefore anywhere using that payment process supported bitcoin.
They stopped that and they said it was too risky. That was a big hit. Now the big online market took bitcoin off its site. The logo is not there anymore Why though? They just sell the bitcoin as soon as they get it?
One reason was that peoples transactions were not going through. I blame the people for not knowing how to use bitcoin.

[Pumuckel21]

So it is good to see that someone pays goods with bitcoin. Me in person only pas with bitcoin via a crypto card issued from visa. This card automatically converts btc to fiat and so you can pay with it easily in the supermarket

[bearexin]

That’s alright, there are people who are always interested in ways they can spend their Bitcoin and it’s good that you have decided to share. I do see a lot of people here that are looking for ways they can spend their coins, and I usually recommend that they make use of purse.io. And there is this really interesting feature about purse.io that I’ve never noticed until recently when I just went through their website, I think last week.

There is this thing they do, they allow you to make orders for people and after that you can get paid in BTC. Since they are giving you around 15% discount on products you pay for using BTC, you buy that product on discount and then get paid in BTC the full amount. It’s quite cool.

[harizen]

They stopped that and they said it was too risky. That was a big hit. Now the big online market took bitcoin off its site. The logo is not there anymore Why though? They just sell the bitcoin as soon as they get it?

Yes. Most merchants accepting crypto-payments are using an API or exchange service to convert their received bitcoin payment into fiat.

They won't hodl these coins. Those crypto-payments they received are part of their circulated money in their business that cover all the cost of their operations e.g. paying their supplier, the salary of their employees, deliveries, general spendings like site maintenance, office rent, electricity, etc.

Unless these merchants are crypto-enthusiast, then maybe there are few who will do that but I doubt.


I can't access OP shared site; "Error 1020 - This website is using a security service to protect itself from online attacks."

[gamer4156]

You can spend bitcoin in many ways. Spending bitcoin is not a problem, the problem is earning bitcoin. You can spend a lot of money shopping online in one day. But I would say the value of Bitcoin will continue to grow every day. One day the whole world will start using bitcoin. So it is better to save something for the future without just spending your bitcoin. You will benefit a lot when the price of Bitcoin doubles or more. So it would be wise to hold some Bitcoin.

[Twinkledoe]

You can spend bitcoin in many ways. Spending bitcoin is not a problem, the problem is earning bitcoin. You can spend a lot of money shopping online in one day. But I would say the value of Bitcoin will continue to grow every day. One day the whole world will start using bitcoin. So it is better to save something for the future without just spending your bitcoin. You will benefit a lot when the price of Bitcoin doubles or more. So it would be wise to hold some Bitcoin.

That actually was my first thought when I read the OP. You will run out of bitcoin just by paying your bills and buying your basic needs alone. So there's really no prob with spending bitcoin. But if you are one of those crypto users that believe that holding bitcoin will give you profit later on, as much as possible you want to hold your bitcoin as long as you can.

[pawanjain]

I cannot find any real reason why you should spend your bitcoins in order to shop online.
In my opinion, Bitcoin has a bigger value than the one right now so it is not worthy spending them for shopping. It is better to keep them in your wallet and consider it as your investment. If you want to buy something online use a stablecoin...

Let's just say some of us just want to increase the global usage of bitcoin as a peer-to-peer payment currency. Imagine if every single one of us is just holding bitcoin without spending it from time to time. Pretty much expect every single online store/service to stop accepting bitcoin payments. What happens to adoption then?

Very well said mate. I don't understand why people discourage others to use bitcoins to shop online.
Bitcoin was created to be used as a payment method and not to store it as store of value.
Your point is absolutely right that if everybody starts  holding bitcoin then no store will accept bitcoin and the adoption will stop eventually.
People these days don't consider using bitcoin for payments. Instead they use it as an investment.