How to Make Purchases With Crypto
Over the past decade, cryptocurrency has evolved from an abstract concept to a common form of payment. Major luxury retailers such as Gucci and Rolex are accepting cryptocurrencies as a payment method, and even Paypal has now given users the choice to send and receive crypto.
What is cryptocurrency?
Cryptocurrency first emerged in 2009, a year after the global financial crisis took hold. With banks and governments in crisis, there was no better time than to introduce a whole new financial system. While it took a few years for cryptocurrency to become ‘the norm’, it is now considered an entirely mainstream and safe way to make purchases and build profits.
Cryptocurrency is entirely online. This means you store your crypto in a ‘wallet’ and transact with it in the same way you would fiat — except it is cashless. You can also invest in a number of different coins, with Bitcoin and Ethereum being the two most popular. If you’d like to learn more about getting started with cryptocurrency, click here.
Which retailers accept cryptocurrency?
The number of retailers accepting cryptocurrency is growing daily. At the time of writing, you can use cryptocurrency at the following major stores:
- Microsoft
- Shopify
- Lush
- Etsy
- Amazon
- Phillip Plein
- Whole Foods
- [Some] Burger Kings
- [Some] Pizza Huts
- AXA Insurance
- Rolex
- Gucci
- Travala
This list continues to grow so keep an eye on your favorite stores and outlets for announcements about their payment options.
How does it work?
When you checkout of a website, you will be directed to a basket. There, you can review what you’re about to purchase, enter your details, select your shipping (if applicable) and finally, make your payment. Usually, you would input your credit card details at this stage. But instead, you will be able to select a cryptocurrency option. There, you’ll follow instructions to checkout using your crypto wallet. It really is that simple. Your crypto will be taken from your wallet and you will receive your product or service. It really is no different to using your credit card, except you won’t face credit card fees, or be monitored by your bank.
Does my crypto change in value over time?
Cryptocurrency does not have a static value. Your chosen coin (for example, Bitcoin) will change in value every day. Sometimes, the price can soar and you’ll find your crypto is worth a lot more than it was a week ago. Other times, it can go south. When you are making a purchase using your crypto, it is wise to know the current value of your holdings. Having access to an exchange account will help with this. You can log in and have a look at your crypto value whenever you like from a phone, laptop or tablet.
Using alerts to manage crypto
The best way to keep an eye on how much crypto you have to spend is to set up a profile with JustAlerts. JustAlerts will keep an eye on the performance of your chosen coin and tell you when your coin is increasing or decreasing in value. This then gives you the opportunity to shift your funds to a better performing coin, if and when needed, without losing any profits. When it comes to crypto investing, speed matters, which is why it’s so wise to have instant alerts, in real-time, to your phone.
Signing up to JustAlerts couldn’t be easier. You fill in your details and enjoy 7 days free before selecting one of two packages. Check it out for yourself!
