What can I buy with cryptocurrencies?

What can I buy with cryptocurrencies - When it first hit the market, Bitcoin was intended as a medium for everyday transactions, allowing you to buy everything from a cup of coffee to computers to expensive items like real estate. Not fully realized yet. Although the number of institutions accepting cryptocurrencies is growing, related large-scale transactions are rare. However, it is possible to purchase various products from e-commerce sites using crypto. Here are some examples.

Technology and e-commerce sites:

Many companies that sell technology products accept encryption on their websites. B. newegg.com, AT&T, Microsoft. E-commerce platform Overstock was one of the first sites to accept Bitcoin. Shopify, Rakuten, and Home Depot also accept it.

Luxury items:

Some luxury retailers accept payments in cryptocurrencies. For example, luxury online retailer Bitdials offers Rolex, Patek Philippe, and other luxury watches in exchange for Bitcoin.

car:

Some auto dealers, from mass retailers to luxury retailers, already accept cryptocurrencies as a payment method.

insurance:

In April 2021, Swiss insurance company AXA announced that it began accepting Bitcoin as a payment method for all insurances except life (due to regulatory issues). Premier Shield Insurance, which sells home and auto insurance in the US, also accepts Bitcoin for premium payments.

If you want to use it at a retailer that doesn't accept crypto directly, you can use a crypto debit card like BitPay in the US.

Cryptocurrency scams and cryptocurrency scams

Unfortunately, cryptocurrency crime is on the rise. Cryptocurrency scams include:

Fake Sites: Fake sites displaying fake certificates and cryptocurrency terms promise huge guaranteed returns if you keep investing.

Virtual Ponzi Schemes: Cryptocurrency criminals foster non-existent opportunities to invest in cryptocurrencies, creating the illusion that new investors pay old ones to make huge profits. One of his scammers, the BitClub Network, made her more than $700 million before the perpetrators were indicted in December 2019.

Advocating “celebrities”: A cyber crook posing as a billionaire or celebrity promises to double your investment in cryptocurrencies, but instead steals what you send. Message apps and chat rooms can also be used to spread rumors about famous businessmen endorsing a particular cryptocurrency. When investors are tempted to buy and prices rise, scammers sell their holdings and the currency depreciates.

Romance Scams: The FBI has warned of a trend of online dating scams where scammers persuade people they meet on dating apps or social media to invest or trade in cryptocurrencies. The FBI's Internet Crime Complaint Center has submitted more than 1,800 reports of her to a cryptocurrency-focused dating scam that cost him $133 million in the first seven months of 2021. .

Otherwise, scammers can impersonate legitimate cryptocurrency traders or set up fake exchanges to trick people into giving them money. Another cryptocurrency scam involves the unauthorized sale of personal cryptocurrency retirement accounts. Then there's the outright cryptocurrency hack, where criminals break into and steal digital girlfriend wallets that store cryptocurrencies.