Once again, I'm wondering how to spend some bitcoin. I paid a fee to buy it, and to convert it back into cash is an even larger fee. I have yet to find a store accepting it.
I don't mind watching it go up in value, but times are tuff, and that's why I invested a little in BTC.
What is the end game when we sell?? Does the tax man take most of it ?
My 3 banks I deal with won't accept transfers from crypto exchanges . I don't want to convert it to cash if there are merchants accepting it .
How about Amazon??
I don't mind watching it go up in value, but times are tuff, and that's why I invested a little in BTC.
What is the end game when we sell?? Does the tax man take most of it ?
My 3 banks I deal with won't accept transfers from crypto exchanges . I don't want to convert it to cash if there are merchants accepting it .
How about Amazon??
There are many ways you can spend Bitcoin, one is directly in shops that accept Bitcoin but that depends on specific country and city you live.
In some countries of Europe like Slovenia you can buy everywhere you want with Bitcoin directly or using their Elly application and it is widely spread.
Second option would be using debit cards and services like Coinbase card, Binance card, Revolut, etc. that allow you to send Bitcoin to their app and spend fiat with your card in any shops and atm that accept Visa or MasterCard.
Problem with this is that you are not really owner of Bitcoin the moment you send it to centralized service, so I would suggest sending only smaller amount of coins when you need to buy something, and keep rest of the BTC in your open source wallet that controls private keys (Electrum, Wasabi, Blue Wallet...).
For purchasing something on Amazon you can use purse.io website, pay with Bitcoin then get 15% discount and you can also earn crypto buy using their service:
https://purse.io/
