Cryptocurrency investments are not about investment and trading alone. With the growing popularity, investors are now able to use cryptocurrencies to buy and sell products and services. You can trade cryptocurrencies with the help of a trading system like https://bitcoin-revolution.software/.
Many online platforms including e-commerce websites today accept crypto payments. Besides this, crypto payments are also backed by major online platforms. This list includes Microsoft, JP Morgan Chase, and Tesla. You can buy Microsoft play station and Tesla merchandise using cryptocurrencies. Besides payment models, companies are also coming forward with their investments in crypto technology.
How to buy using crypto or Bitcoin while buying?
As a crypto investor, you might be well aware of crypto debit cards. This card is loaded with your favorite choice of cryptocurrency. Once you have purchased your selected item, all you have to do is to go ahead and make a payment using your debit card. This card in turn converts your payment. At the receiving end, your merchant will receive payment in fiat currencies.
What are the various products and services that you can buy using cryptocurrencies?
Yes, crypto payments are indeed increasing. Many companies are coming in support of accepting crypto payments. But, we are yet to see major traffic here. Even today the total volume of crypto payments is less than 10%. Transactions involving higher volume, a real estate payment is a rare phenomenon in the crypto industry.
Let us look at key products and services that you can buy using cryptocurrency and bitcoins.
Automobile
There is a certain automobile industry that today accepts Bitcoin payments. There was a major shift in this domain with Tesla announcing Bitcoin payments. With this announcement, other companies also joined the troupe making major progress in this domain.
Products including e-commerce and technology
Major technology and e-commerce companies today accept Bitcoin and cryptocurrencies. Microsoft, AT & T accept Bitcoin payments on their online platform.
The e-commerce shopping website eBay accepts Bitcoin payments. This shift happened after Bitcoin prices saw a major shift in their prices at the end of 2017. PayPal, another major e-commerce website, has also made its site compatible to accept cryptocurrency payments.
Luxury items including watches
Yes, you heard it right. You can buy an expensive watch or jewelry using your card. You just need to home down to your favorite piece and pay for it. Online retailer BitDials allows you to pick your favorite Rolex in exchange for Bitcoin. How cool is that? Certain jewelry stores partnered with third-party payment gateways to enable crypto payments during checkout.
News subscription and article
Yes, Bitcoin and cryptocurrency payments enable you to renew your subscription charges. Major publishing giant Time Inc. allows its readers to pay Bitcoin to either read an article online or renew monthly subscriptions.
Insurance
Swiss AXA came out in 2021 announcing its readiness to accept crypto payments. Bitcoins can be used to buy any insurance policy under their umbrella. However, the insurer has also clarified that this service is still not open for a life insurance policy.
As a service provider, below are key steps that you need to keep in mind while accepting crypto payments.
Make your digital wallet compatible to store cryptocurrencies. Your cryptocurrency could be anything. Your digital wallet needs compatibility with these coins enabling your customers to store this payment option.
Communication is the key. Now that you have decided to accept crypto payments it is important to announce it to your clientele. Hence, invest your time in making the right communication announcing your change in payment strategy.
The third and most important point is to integrate your website’s payment gateway. Engage with third-party vendors to ensure that the payment method also has crypto and Bitcoin listed in it.
Understand the frequency of crypto pay-outs. The payment disbursement varies from crypto. Hence, make sure that you have sufficient backup to accept any delays in pay-out disbursement.
Another important aspect of cryptocurrency and Bitcoin payments is to make sure that there is adequate room for customer support.
If you are looking to buy any products and services using Bitcoin, then you must use your crypto debit card. These types of cards are available with major crypto exchanges and allow you to undertake transactions at an easier pace.
