Paying in Crypto is easy!Last Updated: February 26, 2019
Cryptocurrency has been the buzzword for the past several years now. It has emerged as one of the best investment alternative, but that is not the purpose for which this digital currency was invented for in the first place.
Crypto has been created with the objective to replace the fiat currency, to be used in the day-to-day life, for making daily purchases just like we use dollars, Euro, etc.
However, for that to happen, a massive infrastructure is needed. Replacing fiat currency could take some years, but even now crypto organizations have managed to come up with an infrastructure that makes it simple to pay with crypto for daily purchases.
Crypto can be used in several different industries
With more users opting for cryptocurrency as an investment and as an alternative currency, its use has grown exponentially over the years. Considering these digital currencies are decentralized, they have many uses, and thus have taken over almost every industry.
For instance, travel industry (Cheapair.com), food industry (Subway and more), auto industry (Tesla and Lamborghini), social media (Vanywhere), real estate (Propy.com and more), education (Futurism.com), retail industry (Overstock and more), gaming industry (ORB project), charities and more. Moreover, one can even use crypto to pay for daily bills, like phone, internet, electricity and more.
How to pay with crypto?
Crypto-financial infrastructure is growing and which is leading towards the mainstream usage of cryptocurrency. This includes:
Crypto Debit cards – These cards work the same way as your normal debit or credit cards and helps you to use your digital coins to pay bills or other daily expenditures. A small fee is charged on each transaction, and the merchants accepting these cards get paid in their local currency.
Third-party services – There are several services that allow users to pay their daily bills with cryptos, like Aave Pay. Such services convert your crypto into fiat, and then you can use them to pay for bills. You can use these services to pay for credit cards, home or auto loans, taxes and more.
Direct payments – Many utility companies directly accept payment in cryptos. You can pay these utilities just like you pay using traditional methods, like net banking, credit/debit cards and more. Paying directly helps you to avoid a service or conversion fee.
These are just a few popular ways to pay with crypto easily. And, as the adoption of the cryptos rise further, more options will be made available that will make it even simpler to pay with crypto’s.