What can investors buy with cryptocurrency?
Image by Eivind Pedersen from Pixabay
Cryptocurrency has moved beyond just a novel concept and into a legitimate financial asset class and payment method. As more businesses and platforms accept digital currencies, investors have an expanding range of goods and services they can purchase directly with cryptocurrency. Here are some of the main things investors can buy with their crypto holdings.
Real estate
One of the most high-value items investors can purchase with cryptocurrency is property. An increasing number of real estate developers and agents now accept popular cryptocurrencies like Bitcoin and Ethereum for down payments or even full purchases of properties across the world. The blockchain technology behind cryptocurrencies allows for large-value transactions to be completed quicker and more securely than traditional bank transfers. Purchasing property with crypto avoids foreign transaction fees and currency conversion charges.
Luxury cars
For crypto investors looking to spend their gains, luxury and sports cars are a popular choice. Major auto dealers like Tesla, Rolls-Royce and Lamborghini accept Bitcoin and other cryptocurrencies as payment for new vehicle purchases. Using crypto instead of cash for these expensive items allows investors to capitalise on their portfolio gains and avoid capital gains taxes that would apply if first converting to fiat currency.
Luxury watches and jewellery
The booming cryptocurrency market has created a new segment of investors with ample capital gains who can purchase premium watches and jewellery with Bitcoin and Crypto. High-end watch dealers now accept cryptocurrencies, allowing crypto investors to use their portfolio profits to purchase sought-after Rolex, Audemars Piguet, and Patek Philippe watches. As cryptocurrency continues growing as an asset class, expect more luxury watch and jewellery retailers to cater to crypto investors looking to exchange virtual coins for timeless accessories that retain real-world value.
Everyday consumer goods
In addition to high-ticket items, more everyday goods and services can now be purchased with top cryptocurrencies. Food and beverage companies, apparel retailers, music streaming platforms, lawyers, web hosting services and more all allow customers to pay in crypto. Airlines like AirBaltic and Norwegian Air even accept Bitcoin for flights. Whether it’s day-to-day costs or once-in-a-while splurges, investors have plenty of spending options.
Stocks and securities
Investors can use their crypto funds to diversify into more traditional asset classes like stocks and bonds. Crypto brokerage companies provide platforms for buying popular securities like Apple or Tesla stock directly with cryptocurrency. No need to withdraw to a bank — investors can immediately use crypto gains to buy shares in top public companies.
NFTs
Non-fungible tokens (NFTs) have become a popular niche asset to purchase with cryptocurrency. These digital collectables use the same blockchain technology as crypto coins. From artwork to sports clips to tweets, just about anything digital can be turned into an NFT. Major marketplaces like OpenSea transact solely in cryptocurrency, giving crypto holders the perfect currency for buying and trading these unique assets.
The range of products available for purchase with cryptocurrency continues to grow each year. As digital assets gain mainstream traction, investors will have more opportunities to exchange crypto for everything from the basic necessities to major luxury items and novel digital collectables. More and more retailers see the value in giving customers crypto payment options — giving investors both long-term gains as well as short-term spending power.
