Whether you’re new to the playing field or you’ve just jumped onto the crypto bandwagon, it’s safe to guess that you’ve heard of Bitcoins. As the most popular of all types of cryptocurrency—with a price of over $40,000 and a market cap of a whopping $827 billion—this digital currency has taken the world by storm.
Today, it’s easier than ever to earn, store, trade, and buy with Bitcoin, as long as you know what you’re doing. There are available helping tools like Kraken bots and other bots to help traders automate the process. But if you’ve just started to dabble in cryptocurrency, what should you expect once you’ve accrued a hefty sum in your wallet?
In this beginner’s guide to crypto, we’ll cover the basics of how to use bitcoin, including how and where you can spend your new currency. Here’s are the key methods to keep in mind.
Access a Bitcoin ATM
Because Bitcoin is so popular, there are more ways to manage your cash than with other cryptocurrencies. This includes one essential tool: Bitcoin ATMs!
Once you’ve set up your digital wallet, you can access it at Bitcoin ATMs nationwide. For more info—including a handy location map—check out the cryptocurrency guide from Byte Federal.
Use a Cryptocurrency Debit Card
Depending on your bank and debit card, you might be able to connect your crypto wallet to your card, allowing you to spend Bitcoin like cash. Many Visa and Mastercard debit cards have this ability.
In addition, you can fund a specialized Bitcoin debit card that functions like a prepaid card. This allows you to make purchases at any vendor like you normally would. The best Bitcoin debit cards make this a simple feat!
Spend With an Online Vendor
If you’re shopping online, spending your Bitcoin is often as easy as spending normal cash.
Some major vendors, including Microsoft, Overstock, and Newegg, will accept direct Bitcoin payments. With other vendors, you can use third-party tools like Bitpay in tandem with your crypto wallet to spend your cryptocurrency.
Via Gift Cards
If you’d like to purchase a gift card, it’s easy to do so from online services that accept Bitcoin, such as eGifter. By purchasing with Bitcoin, you can obtain a gift card that’s redeemable with companies like Amazon, BestBuy, and other corporations that don’t accept direct payments of Bitcoin.
Make the Most of This Beginner’s Guide to Crypto
As you get started with Bitcoin, knowing how to use cryptocurrency in your everyday life can make it easier to get more out of your funds. With the beginner’s guide to crypto above, you’ll have no problem spending your new Bitcoins with many of the methods for spending your normal cash, from ATMs to debit cards to direct payments. Try the tips above to see which options work best with your financial lifestyle!
Want more of the digital, finance, and tech tips you need to know? Check out our breakdowns of the latest trends and more in our other content.