How to use cryptocurrency: Earning and spending it in 5 ways
In 2010, Laszlo Hanyecz became the first known person to use Bitcoin as a means of payment. He used it for the payment of two pizzas. A decade-plus later, Bitcoin has taken the path of success by becoming the world’s largest cryptocurrency.
However, these successes come with their drawbacks as the public use and acceptance of Bitcoin as a form of legal tender for the purchase of goods and services is yet to be adopted by the general public.
Although the average daily transaction involving Bitcoin has doubled within 3 years with popular franchises like Tesla and PayPal recognizing Bitcoin as a legal tender, Bitcoin holders and other cryptocurrency enthusiasts still find it difficult to spend their coins directly without converting them to their fiat currencies.
If you own cryptocurrency coins and are having a hard time using them asides from a speculative investment tool, here are 5 ways to earn and spend more.
Earning: Learn and Earn
Decentralized exchange platforms like Coinbase and Coinmarketcap have partnered with several trusted and emerging products to offer an easy way to learn about Cryptocurrency and aloe earn.
Users get to watch videos about emerging topics on these tokens, put their newfound knowledge to the test by completing a quiz, and if they succeed, they are rewarded the project tokens.
Spending: Crypto Debit Cards
A Crypto Debit card is the perfect tool for crypto enthusiasts willing to spend their cryptocurrency tokens. It is a payment card provided by a particular decentralized exchange platform which can either be BitPay or Coinbase that allows for funding before use.
You take the funded card and swipe at Bitcoin ATMs when you put base things. Like regular debit cards, Bitcoin debuts cards are also in different tiers with their corresponding benefits which may be in form of discounts or cashback. They are as secure as regular debit cards, however, they can only be earned by pre-ordering or joining a long waitlist.
Earning: Join contests and win cryptocurrency
With the rise of meme culture and bounty programs, companies organize contests as a way to solve their social media slump and technical issues and at the same time reward users with cryptocurrency.
Currently, FANSPEL is organizing a trading competition, where the highest return on investment gets to take the first prize.
Although the task may be hectic but gives you a chance to win hefty prices by showcasing your skill and creativity.
Spending: Online companies that accept Bitcoin
There are more companies in the United States and beyond that have started accepting Bitcoin and other cryptocurrencies like Ethereum and Dogecoin for the payment of their goods and services. Online retailers like Namecheap, Shopify, and even Starbucks have found a way to include Bitcoin payment into their system.
You can even take several steps further by paying your college tuition with Bitcoin as the University of Pennsylvania’s Wharton School has started accepting cryptocurrency for its online education program.
Earning: Cryptocurrency airdrops
Airdrops are one of the popular ways you can earn cryptocurrency tokens effortlessly as many crypto trading platforms, startups, and new development tokens use them as a storm of advertisement and awareness.
Airdrop is less of a hectic task for you and requires the user to paste your wallet address at the appropriate area, then the platform provider deposits a certain amount of their token if you are qualified.