How can I actually spend crypto in real life?

[Strongkored]

I would really like to hear how others are using their crypto in real life, or if most people are still just holding onto it.

So far, my experience using Bitcoin or stablecoins has been when purchasing domains and renewing VPN subscriptions.
A few years ago, there was a platform in my country that offered mobile phone credit purchases, but it seems Bitcoin's volatility forced them to stop using Bitcoin.
If you want to use Bitcoin for everyday purposes, you can exchange it for Fiat, as its use is currently very limited.

[Z-tight]

The most preferred way would be to pay directly with BTC. But depending on where you live, you may find it very difficult to get a merchant who would be willing to to accept BTC, they'll say it is too volatile. If i am not going to pay directly with BTC, then i prefer to just use an exchange and convert BTC to fiat. I choose that option over debit cards or gift cards, because it is not like you are spending BTC directly when you use them.

[joniboini]

I also used crypto primarily for VPNs and other digital products, like digital games top-up. It's quite good so far, although most merchants are overseas since my country doesn't allow crypto for payments. Fees are not an issue so far. I used a crypto debit card too in the past, although most of them stopped working or require KYC now, so I don't think it's worth it anymore. The fees are quite expensive, too. Selling my crypto for fiat is probably better compared to it.

[robelneo]

I would really like to hear how others are using their crypto in real life, or if most people are still just holding onto it.

My PayPal was always restricted because of transacting with unverified accounts, and cryptocurrency is heaven-sent for many webmasters because they can buy and renew their domain and webhosting, and subscribe to their VPN. You have to explore various marketplaces for your needs where cryptocurrency is accepted.
If cryptocurrency is legal in your country, chances are you have local merchants that accept it; you just have to explore.
 

[348Judah]

And if a place does not accept crypto, is buying gift cards basically the main workaround?

There are so many platforms that accepts the use of cryptocurrency in making payment on their sites, so you may not have to be tied on using a particular one only, try on others, gift card is only an alternative and something quit different form the use of bitcoin or any crypto in making payment, some may have to take a look on places like these https://bitcointalk.org/index.php?topic=5467964.msg62902489#msg62902489
 as already discussed.

[joniboini]

My PayPal was always restricted because of transacting with unverified accounts,

Are you suggesting they block users' wallets if they use them to pay some random merchants? I only use PayPal for one merchant so far, simply because they don't accept crypto, and I have no other way to spend there. I'm not sure if they're "verified" or not, but hearing stories like this makes me think I should urge the merchant to add other options soon. Sadly, I don't think they'll add crypto because of regulations. They're too big to go with "niche" options like crypto.

[Lucius]

~snip~
I used a crypto debit card too in the past, although most of them stopped working or require KYC now, so I don't think it's worth it anymore. The fees are quite expensive, too. Selling my crypto for fiat is probably better compared to it.

If you're not in a country that bans the use of cards, then you still have a solid selection of NO KYC virtual cards that can be purchased for cryptocurrencies. Such services come at a price, but it's not too much, although again everyone has their own opinion about it.

You have a topic about crypto cards in this board, so you can see if there is something acceptable for you.

[bitbollo]

One of the best uses of bitcoin (and in some cases crypto) could also as a collateral for a loan.
This allow you to have access to credit and not spend in the same time your coins. If you can have a strategy this can become one of the best way to spend crypto in real life.
I can understand suggestions about "no kyc" and random cards. this is also based on what you have to do and in your funds.
Likewise in some countries you can't use all credit/debit cards....just to mention one "situation" you have to follow in a real life situation...

[Z-tight]

One of the best uses of bitcoin (and in some cases crypto) could also as a collateral for a loan.
This allow you to have access to credit and not spend in the same time your coins. If you can have a strategy this can become one of the best way to spend crypto in real life.

How does using your BTC as a collatetal on a loan count as spending it? I admit i am having a hard time understanding what you mean here. I wouldn't use my BTC as collateral on a loan, but that's just by the way and i don't want to get into that. However, it sounds weird to count this as a way to spend BTC.

If all things go to plan and you repay your loan, i believe you get your coins back, so that surely doesn't count as spending.

[internetional]

I'd separate two different actions: spending BTC vs borrowing against BTC. If you use BTC as collateral and repay the loan, you still keep your BTC exposure (minus interest/fees), so that is not the same as spending coins. It's more like unlocking temporary fiat liquidity while staying long BTC. Real spending is when BTC is actually sold or transferred irreversibly for goods or services.

[aioc]

I would really like to hear how others are using their crypto in real life, or if most people are still just holding onto it.

There are very few merchants here in our country that accept Cryptocurrency, but I paid my bills coming from my profit from cryptocurrency. I just changed it to our local exchange, and on the same exchange, I can pay my internet and electric bill. Cryptocurrency is legal in our country, but the system for accepting cryptocurrency is not yet set up or adopted.

There are very few instances when I use Cryptocurrency to purchase online, and mostly codes on Netflix and software, but it's a peer-to-peer transaction and not coming from merchants.

[bitbollo]

@Z-tight
Since you can use as collateral you can also pay interest or your debts back... Using your collateral.
Probably Is not the right way to do but...its for sure another ways for spending coin.
There Is an advantage about taxes too

[Italian Panic]

I would really like to hear how others are using their crypto in real life, or if most people are still just holding onto it.

It depend where you fromand where you live, but if your local businesses did not accept bitcoin you can try more online service like bitrefill or other to buy anounimosly a specific prepaid card to spend at market, oil station, amazon or other you prefer. It work really good.

[virasog]

I also used crypto primarily for VPNs and other digital products, like digital games top-up. It's quite good so far, although most merchants are overseas since my country doesn't allow crypto for payments. Fees are not an issue so far. I used a crypto debit card too in the past, although most of them stopped working or require KYC now, so I don't think it's worth it anymore. The fees are quite expensive, too. Selling my crypto for fiat is probably better compared to it.

There are plenty of options available online where one can directly spend bitcoin like VPN payments. You may buy online tools and books / courses using bitcoin. If you are a trader, you may buy trading view subscription via bitcoin and the list contiunes.

Yeah if you are looking to buy groceries locally or online , there you do not have the option to spend directly with btc BTC however as the bitcoin adaption continues, you never know one day, your local shop keeper start to accept crypto as a mode of payment. But for this to happen, the governments need to legalize bitcoin and that may take some time.

[sokani]

I have heard about crypto debit cards that convert your coins when you pay. Are those worth using? Do many online stores accept crypto directly, or is it still pretty limited? What about booking travel or paying for subscriptions?

Yes, of course, crypto cards are worth using. You simply load the card with crypto and use it to pay for goods and services, and here's an extensive list by NotATether to choose from:
https://bitcointalk.org/index.php?topic=5473572.0

And if a place does not accept crypto, is buying gift cards basically the main workaround?

Yeah, that's another alternative, and here are some NO KYC marketplaces where you can buy gift cards using crypto:

• https://trocador.app/en/giftcard/
• https://stealths.net/gift-cards

[EarnOnVictor]

-Snip-
I would really like to hear how others are using their crypto in real life, or if most people are still just holding onto it.

You asked a lot of questions, and the simple answer: you don't need to hold your coins forever, as you can spend them anytime you are ready. It's good they are in BTC and ETH because the hurdles to face with coins vary.

Regardless, there are some issues to prepare for, which is not limited to high fees and unpreferred routes (if you insist on coin to coin). But I were you, if the coins are legal and not looking for tax evasive means, the best way to spend them is to convert them to fiat via P2P. You can then spend your money anyhow you want. If you prefer to avoid that, you can use services that allow direct coin payments or use the services with third-party bridges. You may also use card services, but ensure that it is the type with Crypto-to-Merchant to keep it crypto, if you have your reason to maintain crypto.

In everything you do, avoid gift card if you do not steal the money.   That system is created to reap people off their money. You have more to lose going that route.

[virasog]

-Snip-
I would really like to hear how others are using their crypto in real life, or if most people are still just holding onto it.

You asked a lot of questions, and the simple answer: you don't need to hold your coins forever, as you can spend them anytime you are ready. It's good they are in BTC and ETH because the hurdles to face with coins vary.

Well, it's only BTC and perhaps ETH that one may hold for the long term and even not spend them as they can give good returns in the coming years. Apart from this, I don't think any other crypto is being used for spending in real-world things, and the altcoins are mostly used for trading purposes, and that's the only major use case for them.

Yeah, one may argue that people do use coins like LTC, Dogecoin in gambling sites and other online business but still the majority of the online business is done in stable coins and BTC.

[MusaMohamed]

Stablecoins are used in financial transactions, where you can send them to a third party who exchange them into cash, but apart from gift cards and cryptocurrency processors (which receive deposits in cryptocurrencies and stores receive bank payments), the direct use of cryptocurrencies is limited.

Stablecoins are usable and many people like stablecoins than Bitcoin and altcoins as they don't have loss by holding stablecoins. At least it is why stablecoins are called as stablecoins, but there are things to make stablecoins risky for users.

PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets.
Stablecoins and blacklists.

Another risk is depeg. Stablecoins are stable when they don't have depeg but when depeg happens, these coins are no longer stable.

[uneng]

I have heard about crypto debit cards that convert your coins when you pay. Are those worth using? Do many online stores accept crypto directly, or is it still pretty limited? What about booking travel or paying for subscriptions?

I don't think they are worthy. I acquired the ruby debit card from crypto.com once, but I reached to the conclusion I was wasting too much money on worthless fees to exchange crypto into fiat in order to use the card.

I'm not sure if it's possible to use your crypto directly for payments. As far as I know, you have to convert it into fiat first, so it's pointless.

The only usecase I found for my crypto was to pay for my hardware wallet using Bitcoin.
The number of services and offers accepting crypto as payment method is quite limited.

[Lucius]

~snip~
The number of services and offers accepting crypto as payment method is quite limited.

If you mean local online/physical stores and also that they accept cryptocurrencies directly, then you are not far from the truth, but if you look globally, then there are certainly thousands of online stores that accept cryptocurrencies. The problem with ordering from some other distant country is, of course, the additional costs that you as a customer have to pay (customs, VAT, transport costs), so the purchase is very often not worth it.

On the other hand, anything in digital form is ideal for shopping with cryptocurrency, if it doesn't go directly, you can always find a gift card that will do the job.