For many cryptocurrency enthusiasts, decentralised, blockchain-administrated digital coins are a form of investment. These currencies are often used as little more than digital commodities that gain and drop in value according to the whims of the market. In other words, plenty of people simply keep the ones they own in their secure digital wallets without any thought of what cryptocurrencies can actually be used for – transactions. Like fiat currencies, cryptocurrencies can be used for all sorts of buying and selling of goods and services, not just exchanging one particular crypto investment for another. As more and more businesses in India accept cryptocurrencies for payment alongside more traditional methods, such as bank transfers and cash, how should you be using crypto in everyday life?
The Rise of Crypto Credit Cards
These days, you can obtain a credit card that can hold cryptocurrencies or have rupees assigned to it that will be converted to crypto for use in all manner of transactions. Typically, such cards don’t offer credit with all the downsides of interest payments that come with them for late bill settlements. Rather, the current generation of digital payment/Web3 Card with crypto top up functionality allows you to load your card with the desired amount of crypto credit ready to spend as and when you see fit. This model, which places consumers in control, is nothing new. Banks have issued pre-payment credit cards for decades, after all. The major difference with crypto credit cards is, of course, that they hold crypto balances. What’s more, the same blockchain technology is used to account for such balances as would be the case in any established crypto market.
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Teusday 29 Oct. 2024
The Rise in Stores Accepting Cryptocurrencies
More and more sellers accepted crypto payments in the past. Nowadays any store accepting normal credit cards also accepts payments by crypto cards. With this new innovations crypto assets can be spent easily in real life at ATMs, internet shops or at the point-of-sale. That said, online shops and service providers tend to be much more up to speed in the digital age with respect to crypto transactions. Places like Mountain Wolf are a good example of the sort of online businesses that are built around crypto nowadays. Bear in mind that purchasing goods with a fiat currency is possible on virtually any web store you care to mention. With a crypto credit card, you can load it with credit from your crypto wallet and use the local currency to pay. Therefore, you aren’t really limited in how you pay for goods these days, whether the store accepts the best-known cryptocurrencies or not.
The Rise of Crypto Reward Programmes
There are loyalty rewards in many walks of life and businesses that offer them undoubtedly appreciate the value of repeat custom. Today, there is no difference in the crypto world because cashback rewards and other consumer incentives can be offered just as easily in cryptocurrencies as they can in fiat ones. If you want to gain more digital coins when shopping either with crypto or not, then checking out the various crypto reward programmes available today would make a great deal of sense.
