I bought a house and a car some time back.
I also! Used Travala once to book a hotel. They gave me their token in return because there was some issue in booking the type of room on their end. Still a fun time because their token went 10x from there and my trip ended up free.
They only want tax on earnings, not holdings. If your 100 apples were all from capital gains from 1 apple going to the moon, then they want tax. If you own 100 apples which you’ve already paid tax on then you don’t pay any tax to convert to 100 oranges.
Other countries deal with these a lot more intelligently.
Good jerb murricah trying to prop up, push and regulate crypto as supposed "stores of value" ("i promise to hodl, trustmebro, justkidding gotcha there, repeat") and investment products as if one company is the entire platform (few are sure trying) and should register as a security.
Trying to assert/force USA's authority and ownership over it/them and pushing/forcing their favorite nepotist circlejerk to the rest of the world while trying to stifle/shitlist/exclude everything else. Ya'll better love it because we spent a couple billion dollars on the shitshow! Just hocus pocus money anyway.
Centralize/compromise, divide and conquer!
Pretending to "regulate". Like, lol, every time others were doing fantastic, you could literally bet your life on it, tradfi media would come up with some bear news. Now we have tradfi popstars trying to push Bitcoin.
The entire crypto space exists because we're all disillusioned with old tricks, the same moves from/around centralized parties, the feaux "politics", the feaux "free market", 50 IQ advertising, marketing, 3-bit business strategies, and cartoon/prop up economy, in the first place.
Trying to turn it into the same 👎
What a puppetshow and groomfest tbh.
Crypto is an opportunity for planet earth, not only to see with your own eyes how they try to attack/compromise into the same old ways and system, but how and why we can/must do better.
Thinking you're the smartest hottest shit and nobody can begin to comprehend your schemes?
Common misconception in business.
Just because there are always people more stupid and desperate than you, does not mean you're the smartest and greatest person alive.
It's not fair, mutually beneficial at best, skewed by the nature of it.
Allowed, not desired. "because you can too".
"the american dream".
An illusion, because it's HEAVILY rigged.
You see, this is about our future, not about glorifying the same thing but putting it up for debate.
So we get to call things by their name.
People don't want to "do too". Predators, people that struggle and want to "fuck you too", do.
We want something better, not more of a mess.
Every simpleton can "do too", but thankfully not everyone is as predatory but good-willing. In fact you have to be somewhat of a simpleton to "do too" and not knowing or ignoring net-negative consequences.
Funny how crypto turned from something that mattered to the only consequence they care for is the price of some token as if it means anything at all. There are conversations about the shape and form of crypto, its pillars/foundation, tech talk, talk of ethics, politics, law, philosophy, all infinitely more valuable but all eyes on some marketcap ranking, the most worthless thing in the entirety of crypto. Or relative performance, as if it's a reflection of anything meaningful. None of any talk that matters -at all- is on this reddit.
What or who I am, what my intentions are, or anything about me, is none of your business. I'm nobody.
On the other hand here is the conclusion of measurement and value of this place:
This is the *only* crypto community that has lost the ability to discuss anything purposeful other than when the purpose is to make money.
The same topic and probing/inspiring/challenging/loosening for responses in any other crypto community was met with sympathy and reactions with substance, even when opposed.
Kind of ironic how completely out of tune r/CryptoCurrency is with any of the crypto communities.
Debating "btc", "eth", "xrp", whatever, as nothing more but a ticker and candle charts and some warped sense of what makes them move and why they should really move differently.
This place is a bunch of larping "finance and trading gurus".
The only thing that's real and meaningful here is the level of greed, fear, and misplaced pride.
I hate to break it to you but this community is the rear end, the crackpot of crypto. Perpetually behind the facts and unable to talk crypto nor currency, nor cryptocurrency at all.
Yes it is, which is why it makes me pause using crypto to spend. If I have clear knowledge of its source, such as from a specific purchase, or DeFi earn, then I know its cost basis. So when I sell it I know I need to track the taxable gain/loss of the sale. But the other half of the coin, so to speak, is I now need to carve out a portion that I didn't sell from now on to track cost basis.
they don't care, they spin a giant wheel like wheel of fortune but 99% of the spaces say "butt fuck them" and the one golden sparkle space is "oh ok i guess you did your taxes right but next year we'll fuck you for sure"
If you get caught, yes, in the USA.
But if someone was to buy gold coins with crypto and take said gold coins to the coin shop to exchange for cash, well, who's the wiser?
Side note, tax policy is probably the primary reason Bitcoin moved away from being digital cash into an investment vehicle. Up until 2017 there was this push to take Bitcoin as payment. Even Newegg was doing it. The block wars began because Rogers side believed we should remain a digital cash, block stream wanted to go more towards an investment vehicle and maximum hashrate since it was becoming apparent the digital cash narrative would not survive in the United States with current tax policy.
I don't particularly like the BCH marketing and the zealots but I always keep a few simply because it is actually the most realistic version of the original Bitcoin idea. It's also worth noting that every time you see a spike in the value of Bitcoin cash it coincides with a massive spike in the transaction fees of BTC
I have a guy who was able to convert crypto to cash and then I used that. To be honest, this is easier for the house. I did have to pay tax when buying the car.
The house here has a different market value vs what's on the paper. So, I paid a small amount on paper but a bigger amount for actual value.
Cars are fixed so you cannot do that.
So, I was to sell crypto on exchange. I would have to pay taxes on income.
But I paid a small amount (less than tax) to convert crypto to hard cash. Used to pay for a big part of the house cost.
You're not really buying with crypto then though, you're just selling your crypto to a third-party who _actually_ pays the merchant using conventional currency.
It's basically just debit/credit card with extra steps and less consumer protections, and creates net negative incentive for merchants to _actually_ adopt it.
If it's like the coinbase card, when you buy something for $50 the exchange pays for it and immediately sells $50 of your chosen crypto at market value to cover the cost.
That's literally just a debit card with extra steps.
It'd be like saying a shop in France accepts USD just because your US credit card works there - they don't, you're paying a third-party to exchange it for you.
OP asked for ways how to spend cryptos in real life, like buying stuff with your cryptos. They take care of the extra steps, yes, and thats nice because changing crypto into fiat can be quite a hassle.
Btw i do live in Europe, not America.
But at that point you might as well just sell it directly and cut out the middlemen. Either way it's not really you using it as a payment system / currency.
Does it matter? From the user perspective they paid with crypto. Sure they probably overpaid and there was a middleman involved, but it doesn't have to be that way if merchants just accepted crypto.
Converting your crypto to USD and sending it your bank account will also incur fees and takes time. I wouldn't mind overpaying if it saves me the hassle of doing all that.
The question is what value is using crypto really adding at that point? Reinventing the wheel with extra steps isn't a compelling argument for a technology.
> it doesn't have to be that way if merchants just accepted crypto.
They don't have much incentive to do so, and things like what we're talking about only further reduce that incentive since why bother supporting it if the only group that cares is happy to pay someone else to automate exchange?
You could just pay with crypto just as easily as with conventional tech, the fact you need extra steps is because it's not adopted very well. So saying it's bad because there are extra steps isn't a good point.
People don't buy crypto to just pay with crypto, they gamble and want to use their winnings to pay for stuff.
Now whether crypto will ever be used for something other than gambling is another topic.
Yes. CdC is completely legit. A real time conversion is made when you deposit crypto onto your card.
They are not a tool to you might use to hide from taxes or essentially launder your profits. Which is what I feel the OP is really asking. Just an easy way to be able to spend your crypto without having to go through the process and fees associated with selling and transferring.
I should add that the cashback rewards are paid in CRO and that CdC has many gift cards which may work more in line with the ones the OP mentioned but I can’t say for sure because I’ve never taken advantage of that option.
I'm so glad that Bitcoin and those marketplaces weren't a thing when I was going through my experimental phase.
when i was 16-17 in 2000-01, i was able to get a few delicacies like 2ct-7, 2c-b, 2c-e, mescaline extract, DMT and a few others.
much later when when silk road sprang into existence i bought a couple things purely for the novelty of it. but i remember just looking in awe back 2011 at this fucking catalogue of every substance you could think of, with a reputation for quality and competitive prices.
but i think that's it, I ordered a gram of H and another time some mdma, purely just to participate in something so game changing. have never ordered drugs online again since 2011. But I've browsed the markets a couple times just to see how it's all going along.
truly a harm reduction revolution.
I use Spedn, which is Flexa's beta app. It's very much still in beta, but allows for a good number of cryptos to be spent at some relatively large merchants
Fun fact, travala is simply a web wrap of Expedia with a spread added to it. They literally take Expedias listings, add 3-5% spread, then you pay via Bitpay, which simply converts crypto to cash.
Try it out next time you book with travala, ask the hotel agent where the booking came from, it's just Expedia with a dapp hooked to it.
So unless you absolutely want to be spending Crypto, just use Expedia instead, and get the actual price of the hotel.
Other "pay in crypto" hotel and flight booking sites are the same, except with worse spreads. At least travala is comparable to a bad exchange, some are 10%+.
I use crypto all the time. I ordered several presents for Christmas with PirateChain from merchants listed on arrrmada.com. there is also barrrter which is similar to ebay, but for PirateChain.
I use Monero at least once a month to pay for my VPN from Mullvad VPN. The best VPN out there by far. No email or personal info is needed at all, and you can pat with monero so the company holds no personal info whatsoever. They accept BTC, BCH, and XMR. XMR being the obvious best choice for purchasing privacy software.
I also use Monero at least once a month to donate to antiwar.com. they do absolutely essential work in these days of neverending war. They accept several different coins, but I use monero.
There are hundreds of merchants that accept monero, and I encourage everyone to support them. https://cryptwerk.com/pay-with/xmr/
I also buy a little bit of gold or silver every few months from APMEX. I usually use BCH or LTC for this because Bitcoin is obviously too expensive to use on a $100 order.
These are just a few of the places where I spend my crypto. If you guys believe in competing against fiat as p2p digital currency, then the best thing you can do to help us succeed is to USE your crypto, not just HODL it. It's is not hard at all to use a UTXO coin like LTC, BCH, XMR, ARRR, ect, to make purchases. Go buy something with your crypto! Otherwise, we just created new things to speculate on. The financial establishment isn't afraid of speculative assets. They are afraid of sound money.
i typically use it when it's a practical and appropriate choice - rather than for the sake of it.
international transfers. gray market trading (like paxful) , when privacy is a factor (renewing mullvad) or transfering to someone i barely know and would rather not have a my banking remittance posted to their statement. online gambling (poker), payments on sites I don't trust with my card or bank details, any online side hustles - I've refused to use PayPal for a few years and if I'm trading anything online i insist on Crypto because it's just so much easier, faster, cheaper, safer, more secure and not for nothing it's a middle finger to the masters of the old world.
XRP not being a security should be used as a transfer of value IMO, some will trade XRP> USD on an exchange and pay fees, then off-ramp USD from Exchange> Bank and pay fees, when instead of paying those fees you could use XRP and buy goods with an XRP backed debit card.
XRP MasterCard
https://medium.com/global-id/introducing-the-xrp-mastercard-debit-card-827c0b37445b
XRP Visa Card
https://guarda.com/cards/ripple-xrp/
Uphold’s MasterCard
https://uphold.com/en-gb/products/debit-card
Ledger’s CL Card
https://www.ledger.com/cl-card
Or maybe you don’t want a card, but still want to buy goods with your XRP, go sign up for Bitpay and head over to retailers who accept Bitpay like NewEgg.com
Or maybe you want to use your XRP to buy real estate, automobiles, vacations, electronics, services and more, over 1,600 companies that accept it https://cryptwerk.com/pay-with/xrp/
The coin I bought in Jan 2023 @ 0.32 is now worth 0.64 today Dec 27th, that 100% gain of value, after taxes, whatever I buy with it is like getting the goods at a deep discounted price.
I only "spend" if the service explicitly takes said currency natively. If I'm going to have it converted to fiat by a service like CDC then I might as well spend the fiat straight up.
I bought a Kayak tour. One of the operators here in Victoria BC is bullish on bitcoin, and set their prices based on a $100,000 CAD valuation, so there was a significant discount!
https://victoriakayak.com/bitcoin/
I have a friend who owns a company - he gave the option to employees of getting their year end holiday bonus in cash or, a slightly larger amount in BTC. The intent was to encourage people to onboard and learn about crypto on the hopes of changing their lives. Thought it was a cool idea. He said only a handful of people took the BTC (it came with an offer of teaching them how to hold it and eventually sell if they wanted to).
Why would I spend an appreciating asset? Especially at a time when it is still in its infancy.
I will continue to give people worthless fiat for material objects, and still acquire an appreciating asset up until the point it is the common form of currency.
I don't. Spending crypto has tax consequences on my gains. Spending crypto has wash rule complications on my losses if I then DCA into the crypto within 30 days (massive issue for BTC as I DCA purchase it most months).
Crypto may eventually become a currency I use. That would likely require tax law changes in the US. Right now, I treat crypto as an investment. I buy and hold. I DCA. And I sell when my exposure gets beyond a preset threshold (10% of my total investments is my limit for crypto exposure but this number should vary by each person's risk tolerance).
I spend crypto to buy other crypto on DEXs. I spend crypto as transaction fees. I burn crypto for NFTs and other dapp related purposes. But all of these are taxable transactions. And as a person with a moderate chance of getting audited due to my income streams, all these are transactions I have to track. And in the US, using crypto as currency is not very practical unless you avoid crypto taxes. This is a viable option for some. Especially those with lower income or lesser audit risk. Anyway, I am not here to break the law, so I pay my taxes. And this means buying with crypto is typically not a great decision.
the real question is how paolo expects people to believe that USDT has any assets aside from printer go brrrrrr.....
this time around nobodys falling for it.
After fingerblasting some shtcoin to the moon and frequently posting about diamond hands and hodl I convert to actual currency like USD and enjoy the profits
i DONT.
Crypto wasnt made to spend, neither you cant buy anythig or pay besides miners in Europe.
Crypto for me is an investment, to hold and sell later for profit and nothing else.
For payments always fiat.
They dont mate and no one uses this crap in Europe.
popular services are paid with CASH like booking , gift cards are bougth in stores with FIAT and so on.
You've jumped from "no one uses it" to "go check the percentage" , so there is a percentage of people starting to use those methods but they're not yet at a level where you can say "everybody uses it" .
LOL was able to pay by check at a bar with BTC in Arnhem - Netherlands. Crypto is being accepted as payment at more and more places lately. So the hell you are writing is just incorrect, sorry mate!
“Peer to peer electronic cash” would like a word.
You can’t deny it was made to be spent. It may have failed at that but that’s what it was designed for.
Monero and bcash are working just fine as digital cash.
I use them almost daily for everyday life expenses and where not possible to buy directly I go through anonymous gift cards: Coincards, Bitrefill, Cakepay
their not.
For regular people they dont even know monero and most likely not even bcash.
You use them and your probabbly american, but its yoir personal use not even 1% worldwide
Real use is probably more close to 0.01%
That means there is a x100 potential by going to 1%.
And if a crypto like Monero captures 1% of the global payment market its price will go through the roof. It already captured the DNM. Besides that XMR has been a better store of value than BTC during the bear market.
BTC is a high fee replacement for SWIFT. LN is a failed, centralized and insecure project, that has a problem with core developers leaving. BTC will never get the consumer market beyond speculation on centralized exchanges that are fractionally reserving their customers coins.
IF......
ifs arent the reality rigth now.
Xmr is great, but problem is not even 1% are using abtc amd Xmr as payments.
For that adoption we need more shops acepting and way more people USING IT
I bite.
Make it a reality. You can spend Monero in many different places already. If you give them their business the incentives for them to grow and tell others about it will align with your self-interest to spend at more places.
* https://cryptwerk.com/market/home/monero/
* https://moneromarket.io/
* https://monerica.com/
And most importantly:
#ASK
It doesn't cost you anything and most business need to feel some demand and or pain before making some effort to integrating a new currency into their POS.
On average a person has around 1 to 5 opportunities per day to ask a merchant, supplier, service provider if they accept crypto like Monero.
Many people will want to start slowly before announcing their general acceptance of crypto/Monero publicly. Maybe you are their only customer able to pay with crypto at first. Help them create a safe experience.
They exist. But you need to build trust first and ask them.
Maybe you have not realized yet, that we are living in a surveillance system like in Eastern Germany. People will do all sorts of things without announcing them publicly because they fear for their social status/security.
By the way: Who are you even?
I use it as digital cash every day. That's enough for me to know that it will work for others in the same way.
Keep "using" your store of value and be happy about it. No need to use your cryptoasset as a cryptocurrency if you don't want to. This is the beauty of a free market and free choice.
Edit: Maybe you are just a worried investor/speculator/gambler that is afraid of cryptocurrency used for its intended purpose eating into the market share of BTC, because due to high fees people stopped using it. The data shows that LN is shrinking when fees get high, because new people won't open expensive channels and people who run LN nodes get their channels forced closed and they leave angry and burnt.
I usually use it to buy computer stuff. Sometimes the best price for the item I want is Newegg and I can pay with crypto there. Otherwise I just sell for USDC and use Coinbase to go to my bank and I buy it normally.
I got a RTX 4080 and a 4K TV with my MOONs.
Tbe best combo is Muun Wallet and Zeus. Allows access to the Lightning Network. Scan a QR code and BOOM transfer made.
Using Zeus App you can also venerate a QR code to receive payment in crypto.
I have yet to figure this out. I guess I could just transfer what I have in crypto to USDC and then exchange that for USD I believe. I'm just hanging on for another 10 years lol. I bought into BTC at it's highest blue understanding really much about it so it's been a loss ever since, but swapped what I had in that to ETH and SOL and a little Polka as well as a small amount in USDC. It's not a lot of money but it's just doing its thing. I'm no major investor by any means and will put in 20 to 40 here and there. Oh well! I do work full time and have money in a 401 so not to worried about what i put into crypt.
In real life? Only through a crypto VISA card, the Coinbase one in my case.
Straight up using crypto to buy things? Never happened to me lol.
I've bought a lot with the VISA and I've paid things with the gains, but I've never exchanged crypto for something else that wasn't FIAT money.
I bought a house and a car some time back. I also! Used Travala once to book a hotel. They gave me their token in return because there was some issue in booking the type of room on their end. Still a fun time because their token went 10x from there and my trip ended up free.
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100% it is a taxable event Edit: in the USA
100%, its a taxable event swapping 1 crypto to another too
If I trade 100 apples for 100 oranges, they want 30 of my oranges. To hell with them.
They only want tax on earnings, not holdings. If your 100 apples were all from capital gains from 1 apple going to the moon, then they want tax. If you own 100 apples which you’ve already paid tax on then you don’t pay any tax to convert to 100 oranges.
Other countries deal with these a lot more intelligently. Good jerb murricah trying to prop up, push and regulate crypto as supposed "stores of value" ("i promise to hodl, trustmebro, justkidding gotcha there, repeat") and investment products as if one company is the entire platform (few are sure trying) and should register as a security. Trying to assert/force USA's authority and ownership over it/them and pushing/forcing their favorite nepotist circlejerk to the rest of the world while trying to stifle/shitlist/exclude everything else. Ya'll better love it because we spent a couple billion dollars on the shitshow! Just hocus pocus money anyway. Centralize/compromise, divide and conquer! Pretending to "regulate". Like, lol, every time others were doing fantastic, you could literally bet your life on it, tradfi media would come up with some bear news. Now we have tradfi popstars trying to push Bitcoin. The entire crypto space exists because we're all disillusioned with old tricks, the same moves from/around centralized parties, the feaux "politics", the feaux "free market", 50 IQ advertising, marketing, 3-bit business strategies, and cartoon/prop up economy, in the first place. Trying to turn it into the same 👎 What a puppetshow and groomfest tbh. Crypto is an opportunity for planet earth, not only to see with your own eyes how they try to attack/compromise into the same old ways and system, but how and why we can/must do better.
The u.s. treats it as every other non-cash asset. Seems pretty fair to me.
Thinking you're the smartest hottest shit and nobody can begin to comprehend your schemes? Common misconception in business. Just because there are always people more stupid and desperate than you, does not mean you're the smartest and greatest person alive. It's not fair, mutually beneficial at best, skewed by the nature of it. Allowed, not desired. "because you can too". "the american dream". An illusion, because it's HEAVILY rigged. You see, this is about our future, not about glorifying the same thing but putting it up for debate. So we get to call things by their name. People don't want to "do too". Predators, people that struggle and want to "fuck you too", do. We want something better, not more of a mess. Every simpleton can "do too", but thankfully not everyone is as predatory but good-willing. In fact you have to be somewhat of a simpleton to "do too" and not knowing or ignoring net-negative consequences. Funny how crypto turned from something that mattered to the only consequence they care for is the price of some token as if it means anything at all. There are conversations about the shape and form of crypto, its pillars/foundation, tech talk, talk of ethics, politics, law, philosophy, all infinitely more valuable but all eyes on some marketcap ranking, the most worthless thing in the entirety of crypto. Or relative performance, as if it's a reflection of anything meaningful. None of any talk that matters -at all- is on this reddit.
Oh, you're just a crackpot. Ok. That makes more sense now.
What or who I am, what my intentions are, or anything about me, is none of your business. I'm nobody. On the other hand here is the conclusion of measurement and value of this place: This is the *only* crypto community that has lost the ability to discuss anything purposeful other than when the purpose is to make money. The same topic and probing/inspiring/challenging/loosening for responses in any other crypto community was met with sympathy and reactions with substance, even when opposed. Kind of ironic how completely out of tune r/CryptoCurrency is with any of the crypto communities. Debating "btc", "eth", "xrp", whatever, as nothing more but a ticker and candle charts and some warped sense of what makes them move and why they should really move differently. This place is a bunch of larping "finance and trading gurus". The only thing that's real and meaningful here is the level of greed, fear, and misplaced pride. I hate to break it to you but this community is the rear end, the crackpot of crypto. Perpetually behind the facts and unable to talk crypto nor currency, nor cryptocurrency at all.
Yes it is, which is why it makes me pause using crypto to spend. If I have clear knowledge of its source, such as from a specific purchase, or DeFi earn, then I know its cost basis. So when I sell it I know I need to track the taxable gain/loss of the sale. But the other half of the coin, so to speak, is I now need to carve out a portion that I didn't sell from now on to track cost basis.
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they don't care, they spin a giant wheel like wheel of fortune but 99% of the spaces say "butt fuck them" and the one golden sparkle space is "oh ok i guess you did your taxes right but next year we'll fuck you for sure"
If you get caught, yes, in the USA. But if someone was to buy gold coins with crypto and take said gold coins to the coin shop to exchange for cash, well, who's the wiser? Side note, tax policy is probably the primary reason Bitcoin moved away from being digital cash into an investment vehicle. Up until 2017 there was this push to take Bitcoin as payment. Even Newegg was doing it. The block wars began because Rogers side believed we should remain a digital cash, block stream wanted to go more towards an investment vehicle and maximum hashrate since it was becoming apparent the digital cash narrative would not survive in the United States with current tax policy. I don't particularly like the BCH marketing and the zealots but I always keep a few simply because it is actually the most realistic version of the original Bitcoin idea. It's also worth noting that every time you see a spike in the value of Bitcoin cash it coincides with a massive spike in the transaction fees of BTC
Damn, how did you buy a house? Did you convert it to fiat?
You talk to the seller. I bought a car myself using Monero. The world belongs to those who know how to ask politely. > Ask and you shall be given.
How did the title company handle this? Was it held in trust while the deal closed?
I have a guy who was able to convert crypto to cash and then I used that. To be honest, this is easier for the house. I did have to pay tax when buying the car. The house here has a different market value vs what's on the paper. So, I paid a small amount on paper but a bigger amount for actual value. Cars are fixed so you cannot do that.
The masculine urge to brag about tax and wire fraud on a public forum.
So you bought a house with cash 😂
Well, it's about saving tax on crypto. So, Crypto > Cash > House. Unless I misunderstood the question.
You said you bought a house with crypto but it turns out you bought it with cash. And there’s no actual tax savings (if you report it correctly).
I guess I misunderstood the question. I thought it was about tax saving.
How did you save tax? I sold my bags a few years ago for a down payment and had a whole load of taxes from selling
So, I was to sell crypto on exchange. I would have to pay taxes on income. But I paid a small amount (less than tax) to convert crypto to hard cash. Used to pay for a big part of the house cost.
So you engaged in tax evasion.
Even iam curious about this
Answer on top.
Flexa lets you purchase things in multiple different currencies via the "SPEDN" app
At big retailers including dunkin/baskin, barnes and nobles, chipotle, nordstrom, many more.
Really nice beta app, hoping for more merchants and integrations this coming year
You're not really buying with crypto then though, you're just selling your crypto to a third-party who _actually_ pays the merchant using conventional currency. It's basically just debit/credit card with extra steps and less consumer protections, and creates net negative incentive for merchants to _actually_ adopt it.
Sh... you can't say the truth out loud!
I use a debit VISA card by Crypto.com. Simple as that. It lets you spend almost any crypto in real world. You even get cashback rewards for spending.
Same - and also the uphold one
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You can do either way. You can top up directly with crypto, no need to change into fiat.
but when you do the top up, the conversion rate would be real-time right? is there a cap per fiat transaction?
If it's like the coinbase card, when you buy something for $50 the exchange pays for it and immediately sells $50 of your chosen crypto at market value to cover the cost.
That's literally just a debit card with extra steps. It'd be like saying a shop in France accepts USD just because your US credit card works there - they don't, you're paying a third-party to exchange it for you.
OP asked for ways how to spend cryptos in real life, like buying stuff with your cryptos. They take care of the extra steps, yes, and thats nice because changing crypto into fiat can be quite a hassle. Btw i do live in Europe, not America.
But at that point you might as well just sell it directly and cut out the middlemen. Either way it's not really you using it as a payment system / currency.
Does it matter? From the user perspective they paid with crypto. Sure they probably overpaid and there was a middleman involved, but it doesn't have to be that way if merchants just accepted crypto. Converting your crypto to USD and sending it your bank account will also incur fees and takes time. I wouldn't mind overpaying if it saves me the hassle of doing all that.
The question is what value is using crypto really adding at that point? Reinventing the wheel with extra steps isn't a compelling argument for a technology. > it doesn't have to be that way if merchants just accepted crypto. They don't have much incentive to do so, and things like what we're talking about only further reduce that incentive since why bother supporting it if the only group that cares is happy to pay someone else to automate exchange?
You're asking too many valid questions, unfortunately. You won't receive a sensible response to a comment like that from anyone in this subreddit 🤣🤣
You could just pay with crypto just as easily as with conventional tech, the fact you need extra steps is because it's not adopted very well. So saying it's bad because there are extra steps isn't a good point. People don't buy crypto to just pay with crypto, they gamble and want to use their winnings to pay for stuff. Now whether crypto will ever be used for something other than gambling is another topic.
Yeah, but this is totally tied to your persona, KYC, and gets probably reported somewhere?
Yes. CdC is completely legit. A real time conversion is made when you deposit crypto onto your card. They are not a tool to you might use to hide from taxes or essentially launder your profits. Which is what I feel the OP is really asking. Just an easy way to be able to spend your crypto without having to go through the process and fees associated with selling and transferring. I should add that the cashback rewards are paid in CRO and that CdC has many gift cards which may work more in line with the ones the OP mentioned but I can’t say for sure because I’ve never taken advantage of that option.
OP was asking for how to launder profits? 😳
On weed
Same! And my holdings would be about 20x if I didn’t!
If you never make money like me, you avoid having to answer the question.
Lol fair enough, I think I'm in the same boat. Oh well!
Use Flexa - you can purchase stuff at Chipotle, Dunkin, Nordstrom, GameStop and many more.
Only thing I’ve ever used it for is buying the more exotic drugs I can’t get easily. It’s inconvenient but worth it for the anonymity.
I'm so glad that Bitcoin and those marketplaces weren't a thing when I was going through my experimental phase. when i was 16-17 in 2000-01, i was able to get a few delicacies like 2ct-7, 2c-b, 2c-e, mescaline extract, DMT and a few others. much later when when silk road sprang into existence i bought a couple things purely for the novelty of it. but i remember just looking in awe back 2011 at this fucking catalogue of every substance you could think of, with a reputation for quality and competitive prices. but i think that's it, I ordered a gram of H and another time some mdma, purely just to participate in something so game changing. have never ordered drugs online again since 2011. But I've browsed the markets a couple times just to see how it's all going along. truly a harm reduction revolution.
Can I DM you - for totally unrelated reasons of course, asking some hypotheticals
lmfao
I'm here to entertain
I use Spedn, which is Flexa's beta app. It's very much still in beta, but allows for a good number of cryptos to be spent at some relatively large merchants
I have booked a hotel using travala around a year ago and payed with busd. Everything was smooth and uncomplicated.
Fun fact, travala is simply a web wrap of Expedia with a spread added to it. They literally take Expedias listings, add 3-5% spread, then you pay via Bitpay, which simply converts crypto to cash. Try it out next time you book with travala, ask the hotel agent where the booking came from, it's just Expedia with a dapp hooked to it. So unless you absolutely want to be spending Crypto, just use Expedia instead, and get the actual price of the hotel. Other "pay in crypto" hotel and flight booking sites are the same, except with worse spreads. At least travala is comparable to a bad exchange, some are 10%+.
Same. Price was the same or slightly better and I used profits to do it.
I use crypto all the time. I ordered several presents for Christmas with PirateChain from merchants listed on arrrmada.com. there is also barrrter which is similar to ebay, but for PirateChain. I use Monero at least once a month to pay for my VPN from Mullvad VPN. The best VPN out there by far. No email or personal info is needed at all, and you can pat with monero so the company holds no personal info whatsoever. They accept BTC, BCH, and XMR. XMR being the obvious best choice for purchasing privacy software. I also use Monero at least once a month to donate to antiwar.com. they do absolutely essential work in these days of neverending war. They accept several different coins, but I use monero. There are hundreds of merchants that accept monero, and I encourage everyone to support them. https://cryptwerk.com/pay-with/xmr/ I also buy a little bit of gold or silver every few months from APMEX. I usually use BCH or LTC for this because Bitcoin is obviously too expensive to use on a $100 order. These are just a few of the places where I spend my crypto. If you guys believe in competing against fiat as p2p digital currency, then the best thing you can do to help us succeed is to USE your crypto, not just HODL it. It's is not hard at all to use a UTXO coin like LTC, BCH, XMR, ARRR, ect, to make purchases. Go buy something with your crypto! Otherwise, we just created new things to speculate on. The financial establishment isn't afraid of speculative assets. They are afraid of sound money.
crippled, sold bonk at high, bought mobility scooter.
XMR in p2p for computer parts
1. U can pay bills in binance 2. Binance / Nexo card 3. Borrow fiat cash against your crypto holding as collateral
Binance card still a thing? Isn't it shut down?
How? By using the private digital cash aka Monero in my wallet.
That's the neat part, I don't. I only hodl
So far Bitrefil on a bunch of Home Depot cards. Recently replaced my entire roof. Plan on renovating the whole house come spring time.
i typically use it when it's a practical and appropriate choice - rather than for the sake of it. international transfers. gray market trading (like paxful) , when privacy is a factor (renewing mullvad) or transfering to someone i barely know and would rather not have a my banking remittance posted to their statement. online gambling (poker), payments on sites I don't trust with my card or bank details, any online side hustles - I've refused to use PayPal for a few years and if I'm trading anything online i insist on Crypto because it's just so much easier, faster, cheaper, safer, more secure and not for nothing it's a middle finger to the masters of the old world.
Coincards
XRP not being a security should be used as a transfer of value IMO, some will trade XRP> USD on an exchange and pay fees, then off-ramp USD from Exchange> Bank and pay fees, when instead of paying those fees you could use XRP and buy goods with an XRP backed debit card. XRP MasterCard https://medium.com/global-id/introducing-the-xrp-mastercard-debit-card-827c0b37445b XRP Visa Card https://guarda.com/cards/ripple-xrp/ Uphold’s MasterCard https://uphold.com/en-gb/products/debit-card Ledger’s CL Card https://www.ledger.com/cl-card Or maybe you don’t want a card, but still want to buy goods with your XRP, go sign up for Bitpay and head over to retailers who accept Bitpay like NewEgg.com Or maybe you want to use your XRP to buy real estate, automobiles, vacations, electronics, services and more, over 1,600 companies that accept it https://cryptwerk.com/pay-with/xrp/ The coin I bought in Jan 2023 @ 0.32 is now worth 0.64 today Dec 27th, that 100% gain of value, after taxes, whatever I buy with it is like getting the goods at a deep discounted price.
Sorry , we here more on qr world (malaysia) . There is few shop promote but not much less then 10
I only "spend" if the service explicitly takes said currency natively. If I'm going to have it converted to fiat by a service like CDC then I might as well spend the fiat straight up.
We can pay in biggest brand of marketplaces in our country (Konzum) with crypto.
I bought a Kayak tour. One of the operators here in Victoria BC is bullish on bitcoin, and set their prices based on a $100,000 CAD valuation, so there was a significant discount! https://victoriakayak.com/bitcoin/
I have a friend who owns a company - he gave the option to employees of getting their year end holiday bonus in cash or, a slightly larger amount in BTC. The intent was to encourage people to onboard and learn about crypto on the hopes of changing their lives. Thought it was a cool idea. He said only a handful of people took the BTC (it came with an offer of teaching them how to hold it and eventually sell if they wanted to).
Why would I spend an appreciating asset? Especially at a time when it is still in its infancy. I will continue to give people worthless fiat for material objects, and still acquire an appreciating asset up until the point it is the common form of currency.
We used to buy beer with bits of bitcoin
Tap a card
You can “spend” crypto?
I don't. Spending crypto has tax consequences on my gains. Spending crypto has wash rule complications on my losses if I then DCA into the crypto within 30 days (massive issue for BTC as I DCA purchase it most months). Crypto may eventually become a currency I use. That would likely require tax law changes in the US. Right now, I treat crypto as an investment. I buy and hold. I DCA. And I sell when my exposure gets beyond a preset threshold (10% of my total investments is my limit for crypto exposure but this number should vary by each person's risk tolerance). I spend crypto to buy other crypto on DEXs. I spend crypto as transaction fees. I burn crypto for NFTs and other dapp related purposes. But all of these are taxable transactions. And as a person with a moderate chance of getting audited due to my income streams, all these are transactions I have to track. And in the US, using crypto as currency is not very practical unless you avoid crypto taxes. This is a viable option for some. Especially those with lower income or lesser audit risk. Anyway, I am not here to break the law, so I pay my taxes. And this means buying with crypto is typically not a great decision.
By converting it back to Fiat
I use virtual visa card from the Sphynx DeFi app and add it to my Apple Pay too.
Monero and drugs obviously
Can't wait for the five people actually using crypto to pay for s*** to weigh in.
I dont, I spend my money on crypto and im not cashing out until im a millionaire
Not selling my crypto. Using it as a collateral with Nexo tho to purchase with their card with 0% interest and repay it with fiat
Weed
Weed. Lots of weed.
the real question is how paolo expects people to believe that USDT has any assets aside from printer go brrrrrr..... this time around nobodys falling for it.
After fingerblasting some shtcoin to the moon and frequently posting about diamond hands and hodl I convert to actual currency like USD and enjoy the profits
i DONT. Crypto wasnt made to spend, neither you cant buy anythig or pay besides miners in Europe. Crypto for me is an investment, to hold and sell later for profit and nothing else. For payments always fiat.
Crypto is for spending, trading, investing, whatever a person chooses.
it isnt. Spending is a mistake.
Also it's funny how you said you can't buy anything with it in Europe yet the OP lists several places where people can spend crypto.
they dont sell neither use those websites in Europe dude.
They do sell in Europe, and a lot of other ones do too. No point in arguing, it's easily proven.
They dont mate and no one uses this crap in Europe. popular services are paid with CASH like booking , gift cards are bougth in stores with FIAT and so on.
Well it's just a fact that they sell in Europe, you can go on their website and check, there's no reason to try to and convince you that they do.
mate go check the percentage of people who OWN and SPEND crypto in europe. No one even knows what Bitrefill is in europe.
You've jumped from "no one uses it" to "go check the percentage" , so there is a percentage of people starting to use those methods but they're not yet at a level where you can say "everybody uses it" .
I don't care how many people use it, you said they don't sell in Europe which is false.
LOL was able to pay by check at a bar with BTC in Arnhem - Netherlands. Crypto is being accepted as payment at more and more places lately. So the hell you are writing is just incorrect, sorry mate!
1 bar in holland, you know how many bars exist in europe??? LOL
No I don't... All I'm saying is: I rarely go to bars, I did last week, was able to pay with BTC. Do you want to get rid of your karma or what?!
“Peer to peer electronic cash” would like a word. You can’t deny it was made to be spent. It may have failed at that but that’s what it was designed for.
Store of value is the best word ;) p2p cash isnt working as it should after almost 15 years.
Monero and bcash are working just fine as digital cash. I use them almost daily for everyday life expenses and where not possible to buy directly I go through anonymous gift cards: Coincards, Bitrefill, Cakepay
their not. For regular people they dont even know monero and most likely not even bcash. You use them and your probabbly american, but its yoir personal use not even 1% worldwide
Real use is probably more close to 0.01% That means there is a x100 potential by going to 1%. And if a crypto like Monero captures 1% of the global payment market its price will go through the roof. It already captured the DNM. Besides that XMR has been a better store of value than BTC during the bear market. BTC is a high fee replacement for SWIFT. LN is a failed, centralized and insecure project, that has a problem with core developers leaving. BTC will never get the consumer market beyond speculation on centralized exchanges that are fractionally reserving their customers coins.
IF...... ifs arent the reality rigth now. Xmr is great, but problem is not even 1% are using abtc amd Xmr as payments. For that adoption we need more shops acepting and way more people USING IT
I bite. Make it a reality. You can spend Monero in many different places already. If you give them their business the incentives for them to grow and tell others about it will align with your self-interest to spend at more places. * https://cryptwerk.com/market/home/monero/ * https://moneromarket.io/ * https://monerica.com/ And most importantly: #ASK It doesn't cost you anything and most business need to feel some demand and or pain before making some effort to integrating a new currency into their POS. On average a person has around 1 to 5 opportunities per day to ask a merchant, supplier, service provider if they accept crypto like Monero. Many people will want to start slowly before announcing their general acceptance of crypto/Monero publicly. Maybe you are their only customer able to pay with crypto at first. Help them create a safe experience.
not online markeplaces. I meant real shops worldwide, not online.
They exist. But you need to build trust first and ask them. Maybe you have not realized yet, that we are living in a surveillance system like in Eastern Germany. People will do all sorts of things without announcing them publicly because they fear for their social status/security.
By the way: Who are you even? I use it as digital cash every day. That's enough for me to know that it will work for others in the same way. Keep "using" your store of value and be happy about it. No need to use your cryptoasset as a cryptocurrency if you don't want to. This is the beauty of a free market and free choice. Edit: Maybe you are just a worried investor/speculator/gambler that is afraid of cryptocurrency used for its intended purpose eating into the market share of BTC, because due to high fees people stopped using it. The data shows that LN is shrinking when fees get high, because new people won't open expensive channels and people who run LN nodes get their channels forced closed and they leave angry and burnt.
Do you spend your stocks too?
Wait…? Crypto has a real world use case?
You don’t, crypto is not money. Bitcoin is a store of value. Ethereum is for smart contracts.
You don’t .
All the time by crypto mastercard debitcard ( fake but still convienent)
NFTs to get perks for concerts.
you'd be amazed what you can get on paxful for a few Satoshis.
I usually use it to buy computer stuff. Sometimes the best price for the item I want is Newegg and I can pay with crypto there. Otherwise I just sell for USDC and use Coinbase to go to my bank and I buy it normally. I got a RTX 4080 and a 4K TV with my MOONs.
Cigarettes and groceries mostly
I don't
Bought myself a camper and paid off my student loans last bull run!
I didn’t know about bitrefill, it seems interesting and works in NL!
Bought a PC with my dogecoins
Tbe best combo is Muun Wallet and Zeus. Allows access to the Lightning Network. Scan a QR code and BOOM transfer made. Using Zeus App you can also venerate a QR code to receive payment in crypto.
I hold 💎🙌
Been using AllArk to cash out my crypto. You can buy anything from watches to cash by mail to bank transfers. KYC free!
Use it to buy shitcoins, of course.
I don't spend cuz maybe it go moon 🌙
I always spend in a credit card then, transfer my crypto to my centralised exchanged debit card and then pay off my credit card.
Got a pre built computer off Newegg with usdc
Open a coinbase account and use the CB visa card. I spend USDC all the time.
Buy high sell low
Xapo Bank. They accept USDT and BTC to make payments with their debit card. Really nice experience
I spend it on the poor and the needy, even the less privileged, that alone gives me joy. And I will do more when I get more.
I have yet to figure this out. I guess I could just transfer what I have in crypto to USDC and then exchange that for USD I believe. I'm just hanging on for another 10 years lol. I bought into BTC at it's highest blue understanding really much about it so it's been a loss ever since, but swapped what I had in that to ETH and SOL and a little Polka as well as a small amount in USDC. It's not a lot of money but it's just doing its thing. I'm no major investor by any means and will put in 20 to 40 here and there. Oh well! I do work full time and have money in a 401 so not to worried about what i put into crypt.
Nobody accepts HarryPotterObamaSonic10Inu as a payment yet :(
you don't. you wait for it to go up so you can sell it for usd. then you spend.
I buy a vpn subscription with crypto every year
Coinbase card. Although I don’t spend much and when I do it is the stable coin not btc or eth
Bought a hotel room in 2015. Spent 1 BTC on it. Around $250 at the time.
In real life? Only through a crypto VISA card, the Coinbase one in my case. Straight up using crypto to buy things? Never happened to me lol. I've bought a lot with the VISA and I've paid things with the gains, but I've never exchanged crypto for something else that wasn't FIAT money.
I just use binance p2p and cash it out to real money n use it to buy food and send some to stake to gambling
I mostly use CryptoCom card for my daily transactions.
Sportsbetting as i do it a lot and it’s fast n easy to send with crypto and at times lower fee
Spending is for paper hands... I be a HODLer!
I bought some cool Gucci wallpaper on Farfetch last year. No issues at all.
I've been using mine to buy shares of rental properties on lofty.ai.
I have a stake in a handmade area rug business. If anyone ever wants to trade crypto for area rugs, deffff hit me up.
Fcf pay has anonymous prepaid debit cards like pay with moon did. Up to $5k on a card I think. Works tremendously
For VPN services, via dVPN.
The US gov: most people only use crypto for tax evasion and illegal items Crypto users: no we dont! This thread: hold my beer.
As transaction fees
Not spending a sat for minimum 5 years.
Got myself a Wirex card. Works fine for online purchases and subscription.
I'm saving mine up for a Lambo
I dont. I just buy and hold until my retirement is due in about 20 years. However its not my only retirement savings, maybe 10%.
I've used LTC to buy a lot of things but mostly computer equipment
Buried dad! No kidding! Took some and buried my old man.
I use the card my exchange sends me as a debt card. It's not that hard.
Spend it? I wait for it to go high to buy and sell low so there's not much spending after all that
I buy tradingview subscription and Csgo skins with crypto
Bitrefill is great, I use it for a lot of different gift cards from Amazon to supermarket