Since more ways to obtain cryptocurrency is heading its way to the general public Bitcoin and the other altcoins have been on the spotlight for some time now.
Elon Musk has proved that cryptos have potential to be a valuable asset to have in a company by having customers buy Tesla cars and his investments were so intelligent that people actually think that his claims drive the market.
Why to spend it though?
Most people just see Bitcoin as a way to invest and multiply their investment, and its recent volatility is making this perception to sit in people’s mind. However, let’s not forget that bitcoin isn’t always al volatile.
This means that bitcoin it’s not like the other alt coins that generate twofold their investment every month. There are some ways to use your newly acquired wealth one of them is just exchange it for fiat currency or cash using Bitcoin ATM.
If you don’t want to exchange or to make a transaction that can last up to 10 minutes on the market you could go to online stores and buy common household items.
But also, online platforms for tipping and charity have this as an option to give charitable donations.
Gift cards can also be purchased using cryptocurrency and this way we can use it to buy on Amazon and Best Buy.
Microsoft Store have recently accepting cryptocurrencies as well, and are selling games and apps for bitcoin, Minecraft on the other hand have been using Bitcoin to power its in-game currency.
Coinbase offers on its website a list that shows all of the restaurants that accept bitcoin. Also, the Coinbase debit card can now be used on Google Pay and Apple pay.
How to protect your investment?
If you want to save some money on cryptocurrency there are some “stablecoins” like Tether or DAI that were created as a response to the volatile nature of the crypto assets. These stable tokens are associated to a Fiat currency value or some raw materials like gold.
This is a way that investors can protect themselves to a market crash or when they are experiencing heavy losses by just trading their bitcoin assets to these coins.
Some of the most trusted coins are Tether and TrueCoin that are backed by US Dollars but without ditching away Blockchain Technology. DAI is a token that is backed by Ethereum’s “ether” this “stable” coin can be called as such because of the nature of its inner workings.
DAI works by the generation of reservoir of ether to avoid market fluctuation and reduce risk.
There are some tokens that are connected to raw materials like gold. For example, G-Coin it’s a token platform that are equivalent to a gram of gold fiscally mined.
Stable coins have a way to go from what it is now to what it could achieve in the future but it is a way for people to rapidly spend their crypto assets as easy as fiat currency.