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What can you do with cryptocurrency?

The financial and cryptocurrency experts at Coinbase have explained in great detail the multi-purpose advantages of using cryptocurrency:

There’s a wide range of things you can do with cryptocurrency, and the list grows with time. Here are a few ways to get started, from participating in everyday activities to exploring new technological frontiers:

  • Shop: Over 8,000 global merchants accept cryptocurrency via Coinbase Commerce.
  • Donate to causesThere are benefits to donating and accepting crypto, and many nonprofit organizations accept bitcoin donations.
  • Gift it: Cryptocurrency makes a great gift for friends and family who are interested in learning about new technology.
  • Tip someone: Authors, musicians, and other online content creators sometimes leave Bitcoin addresses or QR codes at the end of their articles. If you like their work, you can give a little crypto as a way of saying thanks.
  • Explore unique new combinations of money and technology: Orchid is a VPN, which helps protect you when you’re online, and a digital currency at the same time. Basically it’s broken down into two parts, the Orchid VPN app and the OXT cryptocurrency, and it all runs on the Ethereum network. Intrigued? Read more here.
  • Travel the world: Because cryptocurrency isn’t tied to a specific country, traveling with crypto can cut down on money exchange fees. There’s already a small but thriving community of self-titled “crypto nomads” who primarily, or in some cases exclusively, spend crypto when they travel.
  • Buy property in a virtual gaming world: Decentraland, which also runs on the Ethereum blockchain, is the first virtual world entirely owned by its users. Users can buy and sell land, avatar clothing, and all kinds of other stuff while partying in virtual nightclubs or mingling in virtual art galleries.
  • Explore decentralized finance, or DeFi: A wide variety of new players are aiming to recreate the entire global financial system, from mutual-fund-like investments to loan-lending mechanisms and way beyond, without any central authorities.

7 Companies Where You Can Pay With Crypto

When Bitcoin (BTC) launched 12 years ago, it promised a payment revolution — the possibility to transfer money without needing a bank as an intermediary. It meant, among other things, that the billions of unbanked people (who can’t access traditional banking services) might be able to stop relying completely on cash.

A lot has happened since then. There are over 11,000 cryptocurrencies and more than 400 cryptocurrency exchanges. Roughly 14% of American adults own cryptocurrency, and many more plan to buy some. Plus, El Salvador recently made Bitcoin legal tender.

However, various factors — including environmental concerns, volatility, and transaction fees — have hampered crypto’s adoption as a form of payment. But some big companies do accept cryptocurrency, including these seven.

1. Overstock.com

Early adopter Overstock.com started to accept Bitcoin as early as 2014. It currently partners with Coinbase to accept BTC payments on its site. The online retailer has also launched a blockchain-focused investment company called Medici Ventures.

2. Travala.com

The online travel company accepts a number of cryptocurrency payments, including Cardano (ADA), Bitcoin, Ethereum (ETH), Dogecoin (DOGE), and more. It’s also partnered with Binance Pay and Crypto.com Pay so customers can pay for their hotel stays through the exchanges’ apps. Travala.com even has its own cryptocurrency — AVA — which has nearly doubled in value since mid-July.

3. PayPal

U.S. PayPal customers can not only buy and sell crypto, they can also use it to pay. As long as you’ve got enough cryptocurrency in your wallet, you can select Checkout with Crypto and pay with Bitcoin, Ethereum, Litecoin (LTC), or Bitcoin Cash (BCH). This means crypto payments are available at any of the 30 million merchants that accept PayPal.

4. AT&T

AT&T announced in 2019 that it was the first mobile carrier to accept cryptocurrency payments. It does so through BitPay, a third party payment processor. Customers can select BitPay when they check out using Bitcoin and other cryptocurrencies.

5. Starbucks

If you want to use crypto to buy your morning coffee, Starbucks’ deal with third party payment app Bakkt makes it possible. You can buy, sell, and trade crypto through the Bakkt App, and you can use Bitcoin to pay at several Bakkt partners, including Starbucks.

Bakkt has also teamed up with Cantaloupe, Wyndham Hotels & Resorts, and, most recently, Quiznos, to let customers pay using Bitcoin, loyalty points, or airline rewards.

6. CheapAir.com

CheapAir.com has been accepting cryptocurrency payments since 2013 and accepts a big range of coins. You can pay for your flight or hotel booking using a range of digital currencies and stablecoins, including Bitcoin, Ethereum, Dogecoin, Gemini Dollar (GUSD), and USD Coin (USDC).

7. Dallas Mavericks

Billionaire crypto enthusiast Mark Cuban’s NBA team has been accepting crypto payments for over two years. Mavs fans can buy tickets and merchandise using various popular currencies, including Bitcoin, Bitcoin Cash, Ethereum, USD Coin, Gemini Dollar, Binance USD (BUSD) and Dogecoin.

Dogecoin was the most recent addition to its crypto list. Cuban said the team had chosen to accept Dogecoin “because sometimes in business you have to do things that are fun, engaging and hopefully generate a lot of PR.” The Mavericks also use BitPay to process its crypto payment options.

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