Quarantine may not be more of a challenge to some than staying home. However, doing it in a context like Coronavirus causes a level of anxiety for our mental health. Therefore, from CryptoTendency we bring you a series with the best activities you can do while the quarantine lasts. Starting with a guide to buying with cryptocurrencies, such as Overstock or Bitpay.
Cryptocurrencies are also currencies
Since the appearance of Bitcoin, cryptocurrencies began to transform the international financial system. Introducing virtual currencies as a mechanism to carry out transactions, national and international, quickly, easily, and above all, cheaply. Taking advantage of the capabilities offered by Blockchain technology.
However, the positive effects of cryptocurrencies are not felt if there are no options to spend them, such as to acquire goods and services. Well, at the end of the day, serving as a means to facilitate purchases is the main objective of being of coins, whether virtual or physical.
Unfortunately, there are currently not so many options to spend our cryptocurrencies as to buy using fiat money. However, if there are two options with which we can use our crypto assets, allowing us to acquire everything we want online for the duration of the quarantine.
The first of our options should already be known by many of our readers. Well, BitPay is one of the most important wallets in the world, especially due to its work aimed at facilitating real-world operations with cryptocurrencies.
Thanks to this, it has developed a series of services that allow us to use our Bitcoin to acquire goods and services. From a debit card that, when used in merchants that accept it, deducts from our Bitcoin account and deposits them in the company’s account in Fiat money at the current rate. Even mechanisms to change our crypto assets for Gift Cards.
Thus, BitPay offers us two options to acquire merchandise at this time. The first is to exchange our Bitcoin for Gift Cards from Amazon, or some other online store of our preference, and buy normally as if we were using Fiat money. And the second is by spending them directly on one of the companies that accept BitPay as a means of payment, and whose list can be found here.
The second option that we recommend to buy online using your cryptocurrencies is Overstock. It is an American virtual store, a pioneer in the adoption of crypto assets to carry out operations within its platform. Therefore, they have long accepted Bitcoin as a means of payment.
Thus, thanks to an alliance between this company and Coinbase, Overstock buyers can use their cryptocurrencies to buy in the store. For which, we simply have to add to our shopping cart all the merchandise that we want to acquire, and select the “Bitcoin” option when asked about our payment method.
So, in the middle of the quarantine, you can still use your time to decide what to spend your hard-earned crypto assets on. And request that your purchases be sent to your home, without leaving the necessary quarantine to which we are subjected to stop the Coronavirus.