My little brother once asked me, "What can you do with Bitcoin, a currency that you can't touch and is not accepted in many physical stores; like what's the use?"

I turned to him and I'm like, "Oh, really!"

Then I made sure to put some sense into him and make him think differently.

I know most of us are facing such a dilemma. Despite knowing various ways to invest our crypto for more profit, , we still want to be able to make daily physical transactions using cryptocurrency. We badly want to leave the centralized financial system that has the major issues of high fees, low interest, and centralized regulations.

But then you are wondering how possible it is to make purchases with cryptocurrency, especially in a country like Nigeria where most business people aren't familiar with cryptocurrency, and most of the people who are aware of it do not trust the potential of the system.

Well, yes! With the recent innovations in blockchain, it is 100% possible and very easy to buy just anything with Bitcoin. If you stay with me till the end, you'll discover the different ways to make purchases using Bitcoin and the necessary precautions to take.

Different Ways to Buy Anything Using Cryptocurrency

1. Crypto Cards

These cards come in virtual and physical form, linked to the crypto wallet. One can quickly make a deposit to the card and use it for payment. There are different types of crypto cards; a practical example would be Bitpay card.

Bitpay

Bitpay enables you to convert your crypto to fiat instantly and make purchases online. You can also use it to withdraw your Bitcoin as cash from the ATM (ATM that accepts different types of cards). Also, you don't need any KYC verification to do this, making it seamless and secure.

Coinbase

Coinbase card is another option. Like the Bitpay card, Coinbase automatically converts your crypto to cash, allowing you to make any type of purchase using your card. As of the time this article was written the card is available for only US-based customers which may likely change with time also remember to watch out for potential fees associated with these cards.

2. Online Stores

There are so many online stores that accept Bitcoin as a means of payment. All you need to do is add products to your cart and choose the Bitcoin payment option. A QR code will be generated for your purchase. Open your mobile crypto wallet, scan the code, and approve the transaction from your wallet. Alternatively, copy the address on the platform, make the payment, and wait for it to be approved, and you'll get your stuff delivered ASAP.

Popular sites that accept Bitcoin include Walmart, Amazon, Shopify, Microsoft, Burger King, KFC, Newegg.

3. Gift Cards

You can convert an amount of Bitcoin to any currency of your choice and store them in a different card, which you can either use to either make purchases or gift to someone. This helps you make easy purchases using Bitcoin. The gift card comes in two forms: the virtual card and the physical card for their respective uses.

Gift card sites that accept Bitcoin include Bitrefill, eGifter, Bitpay, Coincard, PayPal, etc.

Is Crypto the Right Currency for Daily Transactions?

There's no one size fits all answer to this as using crypto has its pros and cons. On one side, using crypto for daily transactions is seamless, and you get to escape from the centralized financial system, saving yourself time and energy while making more money off the market.

On the flip side, Using crypto as a means of daily transactions can expose you to hackers, so be careful about phishing attempts. Secure your account with private keys, conduct appropriate research about a crypto wallet before using it, as some may have the wrong intentions. Regularly update the information, especially regarding specific services and platforms, as the cryptocurrency landscape can change rapidly.

In summary, Bitcoin is not just a decentralized currency for trading and other services; it can also be used for your day-to-day transactions by using crypto Visa debit cards like Bitpay and Coinbase, which are accepted anywhere. You can use your Bitcoin to get gift cards online for stores that do not accept Bitcoin as payment. You can as well proceed to make your purchase from online stores that accept Bitcoin. But while you enjoy the seamless benefits of daily transactions with Bitcoin, it's important to be cautious and beware of hackers, as this system is prone to hacks like phishing.

What are your thoughts on this innovation?

Feel free to share your opinions in the comments section below.