Did you know that as of January 2021, there are approximately 400,000 Bitcoin transactions daily? That’s a lot of transactions!
But have you ever wondered how you go about actually spending bitcoin?
Well, it’s not that hard to do. In fact, you can use bitcoin just like any other currency. You just need to know where to spend it and how much it will cost you in the end.
If you are wondering how do you spend bitcoin, this short and simple guide is for you.
Get Yourself a Wallet
The first thing you’ll need to do is get a crypto wallet.
You can do this by using an app, which will let you store your currency and send and receive bitcoin. Some wallets are free, while others charge a small fee for each transaction.
Find a Merchant That Accepts Bitcoin
The easiest way to spend bitcoin is simply to find a merchant that accepts them.
Several websites can help you find places to spend your coins. These websites list businesses by location and category, so you can easily find something in your neighborhood that fits your interests.
Buy Gift Cards With Bitcoin
Another way to spend your bitcoin is by purchasing gift cards.
There are a few websites that sell gift cards with bitcoin. These sites allow you to buy gift cards for major retailers like Amazon or Best Buy.
If you have a favorite store or restaurant that accepts bitcoin, you can buy a gift card from one of these sites. You can also purchase gift cards for smaller local businesses that don’t accept cryptocurrency directly.
Use Bitcoin at ATMs
You can get cash from an ATM by using your Bitcoin wallet. This is one of the easiest ways to spend bitcoin without having to worry about converting them into fiat currency first.
The process is different for each ATM.
Some of them will require you to scan your ID, while others may ask for a PIN. Once you’ve verified your identity, you’ll be given cash for your bitcoins.
You can check out this bitcoin atm here.
Use Your Phone to Pay for Things
You can use your phone to pay for things by downloading a bitcoin wallet app. Some of these apps let you pay with a QR code. Others store all of your information on the device itself.
Once you’ve set up an account and linked it to the app, you can spend bitcoin wherever they’re accepted.
How Do You Spend Bitcoin? This Is What You Need to Know
So, how do you spend bitcoin?
With a little time and patience, you can learn how to spend your bitcoin.
There are many ways to do this, such as buying gift cards or other items online. You could also use your phone to pay for things by downloading a bitcoin wallet app.
Don’t forget to browse our site for advice on cryptocurrency, technology, business, and more.