news4global
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Terra Luna News Today | Rajeev Anand | Crypto News Today | Cryptocurrency News Today | Crypto Marg

    Terra Luna News Today | Rajeev Anand | Crypto News Today | Cryptocurrency News Today | Crypto Marg

    Poilievre's position on cryptocurrency criticized | CPC leadership debate

    Poilievre's position on cryptocurrency criticized | CPC leadership debate

    CRYPTO IS BLOODY RIGHT NOW! IS CRYPTO CRASHING? ARE WE IN THE MIDDLE OF A CRYPTO CRASH?!

    CRYPTO IS BLOODY RIGHT NOW! IS CRYPTO CRASHING? ARE WE IN THE MIDDLE OF A CRYPTO CRASH?!

    Why Terra Luna Dump hard ? | Reason..

    Why Terra Luna Dump hard ? | Reason..

    Michael Saylor Reacts To Bitcoin Crash And Inflation

    Michael Saylor Reacts To Bitcoin Crash And Inflation

    Is LUNA Fueling the Crypto Crash?

    Is LUNA Fueling the Crypto Crash?

    What exactly is Putin's 'doomsday plane'?

    What exactly is Putin's 'doomsday plane'?

    Why Generation Z is about to become the RICHEST Generation | Crypto Investing w Miss Teen Crypto

    Why Generation Z is about to become the RICHEST Generation | Crypto Investing w Miss Teen Crypto

    XRP SELL WARNING!!! *EMERGENCY* (DO THIS NOW!!!!!)

    XRP SELL WARNING!!! *EMERGENCY* (DO THIS NOW!!!!!)

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Terra Luna News Today | Rajeev Anand | Crypto News Today | Cryptocurrency News Today | Crypto Marg

    Terra Luna News Today | Rajeev Anand | Crypto News Today | Cryptocurrency News Today | Crypto Marg

    Poilievre's position on cryptocurrency criticized | CPC leadership debate

    Poilievre's position on cryptocurrency criticized | CPC leadership debate

    CRYPTO IS BLOODY RIGHT NOW! IS CRYPTO CRASHING? ARE WE IN THE MIDDLE OF A CRYPTO CRASH?!

    CRYPTO IS BLOODY RIGHT NOW! IS CRYPTO CRASHING? ARE WE IN THE MIDDLE OF A CRYPTO CRASH?!

    Why Terra Luna Dump hard ? | Reason..

    Why Terra Luna Dump hard ? | Reason..

    Michael Saylor Reacts To Bitcoin Crash And Inflation

    Michael Saylor Reacts To Bitcoin Crash And Inflation

    Is LUNA Fueling the Crypto Crash?

    Is LUNA Fueling the Crypto Crash?

    What exactly is Putin's 'doomsday plane'?

    What exactly is Putin's 'doomsday plane'?

    Why Generation Z is about to become the RICHEST Generation | Crypto Investing w Miss Teen Crypto

    Why Generation Z is about to become the RICHEST Generation | Crypto Investing w Miss Teen Crypto

    XRP SELL WARNING!!! *EMERGENCY* (DO THIS NOW!!!!!)

    XRP SELL WARNING!!! *EMERGENCY* (DO THIS NOW!!!!!)

No Result
View All Result
news4global
No Result
View All Result
Home Bitcoin

Walking you through how to actually buy something using cryptocurrency

March 24, 2022
Reading Time: 4 mins read
0
Walking you through how to actually buy something using cryptocurrency
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

DETROIT – I recently asked a handful of people to do a little one-word free association with me. When I say “cryptocurrency,” you say…?

  • Meaghan (Gen-X manager of our special projects): “Bitcoin.”

  • Karen Drew (President of the ‘Women Wearing Aviators Club’): “Computer.”

  • Devin Scillian (Baller): “Pyramid scheme.”

  • Rod Meloni (Loveable curmudgeon): “Counterfeit.”

  • Ken Haddad (30-something social & digital wiz): “Volatile.”

  • Kimberly Gill (Basil’s mom): “Curious.”

  • Derick Hutchinson (Almost 30-something sports & digital wiz): “Confusing.”

It’s worth noting Rod Meloni is also a Certified Financial Planner. It just goes to show how wildly different opinions are when it comes to crypto. And whether you have a positive or negative opinion of crypto, I’m willing to bet you could use a lot more education about it.

For example, when I was assigned this story, I didn’t know where to begin or who to talk to. As I researched that, I went down a YouTube rabbit hole about the different aspects of it and how to understand it. Just when I thought I had enough of a handle on it to report a story, our assistant news director asked me how people were able to buy things with it.

*Crickets*

So, I went back to researching. I also totally understand why people skim the topic and then give up because in a lot of respects it’s like learning a foreign language. Even though I know much more than I did before, all I can really say about crypto with any confidence is, “¿Donde esta la biblioteca?”

Ad

Read: Cryptocurrency could be part of your financial future: Here’s how it works

How to use cryptocurrency

That said, I would like to walk you through how to buy something with crypto, since it moved pretty quickly in the TV version of the story.

Several businesses support crypto as payment, although in many cases, it’s only Bitcoin. Often it requires a few extra steps than just using your credit card or a linked bank account. However, once you set up that connection, it’ll be simpler.

It’s important to note: Some stores use a specific crypto wallet. In my story, we used Starbucks, which requires you to use the crypto wallet Bakt. (Crypto wallets are like a bank account.)

Once you set up Bakt and connect your bank account, buy some Bitcoin.

Then, go to the Starbucks app and load some money on your card, but instead of loading it through your bank account, select the Bakt option.

Ad

Scan the barcode on your phone when you pay, and you’ve just bought a coffee using Bitcoin!

That’s just one example of using crypto to buy something. It could be a different process for Amazon, Home Depot, AMC, Overstock, or wherever you’re shopping.

Another way to use crypto for *anything* is to go through your wallet, like Bakt, or Coinbase, or Blackchain.com, and set up a universal “credit card.” Use the same type of steps as before to transfer your crypto funds onto the credit card, and you should be able to use that digital card when shopping almost anywhere.

Like I said, it’s a learning process. But think back to 1996 and using the internet. You were clueless on what it had to offer and how it might actually be a thing five years into the future.

Did you ever expect to do the majority of your communication by email back then?

If cryptocurrency is here to stay (and most experts believe it is, in some form or fashion), then it’s important to at least have a working knowledge of it so you don’t get ripped off or invest in the wrong type of coin, etc.

Ad

Who knows, in a couple years, you might even be able to say, “¿Puedo ir al baño por favor?”

Copyright 2022 by WDIV ClickOnDetroit – All rights reserved.

Related articles

GPU Manufacturers Expect Availability And Price Changes

GPU Manufacturers Expect Availability And Price Changes

May 18, 2022
How Cryptocurrency And The Blockchain Are Transforming Forex

How Cryptocurrency And The Blockchain Are Transforming Forex

May 18, 2022
Tags: CryptoCryptocurrencyJason Colthorpmoney
Share76Tweet47

Related Posts

GPU Manufacturers Expect Availability And Price Changes

GPU Manufacturers Expect Availability And Price Changes

by admin
May 18, 2022
0

Image: Fox / Matt Groening / KotakuWith an ongoing chip shortage that’s impacting basically everything that requires silicon and, everyone’s...

How Cryptocurrency And The Blockchain Are Transforming Forex

How Cryptocurrency And The Blockchain Are Transforming Forex

by admin
May 18, 2022
0

Forex has long been one of the major focal points in the world of finance. Then Bitcoin was introduced in...

MKR Crypto Defies Market Turbulence With 30% Gain on the Week

MKR Crypto Defies Market Turbulence With 30% Gain on the Week

by admin
May 17, 2022
0

Maker’s (MKR-USD) MKR crypto is seeing shine as it posts a 30% gain over the last seven days This upward...

How Bitcoin Should Be Upgraded In The Future

How Bitcoin Should Be Upgraded In The Future

by admin
May 16, 2022
0

One of the most contentious questions in Bitcoin over the last five years has been how to activate soft forks....

Coinbase: the AWS of Crypto

Coinbase: the AWS of Crypto

by admin
May 16, 2022
0

On today’s episode of “Empire,” Joe Lallouz, head of Coinbase Cloud, joins Jason and Santiago to discuss how Coinbase Cloud...

Load More
  • Trending
  • Comments
  • Latest

Bitcoin Is ‘Definitely Not a Fraud,’ CEO of Mobile-Only Bank Revolut Says

March 2, 2022

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

March 3, 2022
How online shopping has changed over the last 30 years | National

How online shopping has changed over the last 30 years | National

April 6, 2022

India: Bitcoin Prices Drop As Media Misinterprets Gov’s Regulation Speech

March 4, 2022

US Commodities Regulator Beefs Up Bitcoin Futures Review

0

Bitcoin Hits 2018 Low as Concerns Mount on Regulation, Viability

0

India: Bitcoin Prices Drop As Media Misinterprets Gov’s Regulation Speech

0

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

0
How to avoid ‘rug pulls,’ the latest cryptocurrency scam | Business News

How to avoid ‘rug pulls,’ the latest cryptocurrency scam | Business News

May 18, 2022
From bags to pet food, businesses in Singapore allow customers to pay with crypto

From bags to pet food, businesses in Singapore allow customers to pay with crypto

May 18, 2022
Crypto Coin Coach on Why NFT Projects like Cryptopunks and BAYC are a Huge Success

Crypto Coin Coach on Why NFT Projects like Cryptopunks and BAYC are a Huge Success

May 18, 2022
GPU Manufacturers Expect Availability And Price Changes

GPU Manufacturers Expect Availability And Price Changes

May 18, 2022

Latest News

How to avoid ‘rug pulls,’ the latest cryptocurrency scam | Business News

How to avoid ‘rug pulls,’ the latest cryptocurrency scam | Business News

May 18, 2022
From bags to pet food, businesses in Singapore allow customers to pay with crypto

From bags to pet food, businesses in Singapore allow customers to pay with crypto

May 18, 2022

Categories

Site Navigation

  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services
  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services

© 2022 Designed by news4global

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • Videos

© 2022 Designed by news4global