How to spend bitcoin? 3 different ways
Nowadays, there are just few things we can do without money and they become more scarce every day. So, whether you are a maximalist or a regular holder, knowing how to spend bitcoin has become a matter of survival.
Luckily for us, as bitcoin adoption permeates society, new ways of spending our cryptocurrencies are also appearing. Just a few years ago, this task was complex and required finding the right people plus a certain amount of expertise.
With solutions such as the Bitsa prepaid card, reloadable with cryptocurrencies, including the unique bitcoin, they make our day-to-day lives easier. Now, let’s explore how we can spend our bitcoins.
What does it mean to spend bitcoin?
Some people get confused when they hear about spending bitcoin. The purpose of this article is not to tell you how you can swap your BTC in a centralized exchange and then get that FIAT money to your bank account in order to finally spend it. Although that process can achieve its goal, we need something faster and smoother, with less friction.
Thankfully, in the state of the art that we find ourselves in, there are simple and quick ways to spend our bitcoin. And with that, we mean:
- Exchange our bitcoin for services or goods
It may sound unreal today, however not a long time ago it was nearly impossible. But, before digging into the options that we have today, let’s dedicate a few lines to those who consider it a blaspheme to spend bitcoin, just give a nice alert to the newbies of this space.
As weird as it sounds, there is a group of people, bigger than what you can think, that consider that every BTC unit must be held and not spent. This group, which despises other cryptocurrencies, are called “bitcoin maximalist”.
They believe that BTC is the ultimate evolution of money, and that’s why they refused to spend it. If you are new to this ecosystem and you encounter a “staunch bitcoiner”, this is the background that you need to contemplate.
Nevertheless, from our point of view, we consider that bitcoin has the potential to change the world as we see it today. We know that the way we build trust will never be the same after bitcoin. But, we can avoid the fact that we need services and goods to have a pleasant life.
Therefore, let’s learn how can we spend our bitcoin.
Different ways to spend bitcoin
We can say that there are three ways to spend our bitcoin and we can order them in terms of difficulty. Let’s have a look at this list:
- Spend our bitcoin without an intermediary
- Swap our bitcoin for FIAT money on an exchange and then send it to our bank account
- Pay with a crypto card
We will start with the most complex way to spend our BTC.
Spend your BTC directly
The first thing that we must do is find someone that accepts bitcoin as payment. If you’re asking yourself, why this is not an easy task? The response is simple, nowadays the regulatory implications of cryptocurrencies are not well defined.
So, for merchants is not easy to receive cryptos in exchange for their work and then make a simple tax declaration. However, if you are able to find a cypher-punk willing to receive your BTC in exchange for its services or goods, with a simple transaction everything would be done.
Nevertheless, be sure to set clearly the BTC price before, because while you wait for the transaction to be completed, the price can vary a lot.
Swap, withdraw and spend
Even though the tools that exchanges provide us have become extremely better, this whole process can take a lot of time and almost every person would need assistance the first time they do it.
Anyway, we can breathe calmly. There is a much simpler, more direct and easier way to spend our bitcoin. And, I assure you, no one would need assistance the first time you do it. Let’s learn how to do it.
Bitsa card, the easiest way to do it
The first thing you need to do, before spending your BTC, will be to download for free the Bitsa app. Then, with just a few steps, and completing some straightforward KYC requirements, you will have your account and a free virtual card created.
Now, is time to spend your bitcoin. And the process is so simple, that we can resume it in 4 steps:
- First select the amount of BTC with which you want to top up your card
- In order to send your bitcoin, the Bitsa app would generate the data for the blockchain transaction that you must perform
- Now, you just have to wait for the transaction confirmation on the blockchain
- Once is confirmed, you can buy anything you need or even pay for your services
With your Bitsa app you would get:
- Virtual and physical pre-paid crypto cards
- A FIAT account, fully functional
Both types of cards, virtual and physical, are issued by Visa. This means, that you wouldn’t have any problem paying for your daily purchases or services and you can even withdraw FIAT money from ATMs around the world.
Spending bitcoin has never been so easy.
The future of crypto payments
Some people argue that the future of crypto payments is not as bright as we can think. Their arguments remain on the fact that Visa, MasterCard and other gigantic of this oligopolistic sector, don’t let a great market share that enabled the great efforts that the crypto industry would have to do to compete.
Nevertheless, as I wrote in the introduction to this article, we have come a long way to be able to spend our bitcoin in such an easy way as Bitsa allows us to do it. Another point that reinforces the idea of a promising future in the payments sector for cryptographic solutions is that giants such as Visa or MasterCard are joining forces with innovative companies such as Bitsa, in order to allow final users to find a simple way to spend their bitcoin.
The future would remain uncertain until it becomes our present. However, something that we can guarantee is that crypto payment solutions are constantly being developed and products like Bitsa pre-paid cards definitely attract more users to the crypto world.
As we have seen through this article, spending our bitcoin has never been so easy. Nowadays, we don’t have to find a cypher-punk that accepts crypto as payment. With a Bitsa card we can buy almost everything that we need.
The long journey to the current state of our ecosystem has taught us that there are no limits to what we can create. Due to this undeniable reality, it is extremely challenging to guess what the next big thing in cryptography is going to be. Maybe that’s what makes us all so deeply engaged whit this ecosystem.
Today, we learn how to spend bitcoin, stay tuned to discover more fantastic features.