Why Shopping With Bitcoin and Other Crypto Will Be the New Normal?
Thanks to crypto utility, Bitcoin and other cryptocurrencies are on every tongue. While this is being written, bitcoin is rallying at an all-time high of $24,000, which further verifies our claim.
Cryptocurrencies like bitcoin are often labeled as a speculative investment pot. Currently, nearly 7% of America holds cryptocurrencies. Plus, today, behemoths like Virgin Galactic, Microsoft, Square’s CashApp, Overstock, etc., accept crypto payments. These facts indicate that cryptocurrency is gaining mass adoption; it’s becoming a potential medium of exchange.
Yes, you can buy your favorite shoes, the new dress lying in your shopping cart, or even that stylish bag- each using crypto.
Well, there are many benefits of paying with cryptocurrencies while you shop – no banking fees, cheaper transactions, security, 24/7 access, etc., are amongst a few.
The question many ask though…. – Why should I buy with crypto?
Well, read on as we discuss just that!
What is Cryptocurrency?
In simple words, cryptocurrency is a virtual currency secured by an advanced encryption technique called cryptography; hence the name ‘cryptocurrency.’
Unlike paper-coin (fiat) currencies, cryptocurrencies do not require intermediaries like banks to facilitate transactions. Instead, crypto units live on a peer-to-peer network called blockchain, where transactions are validated by a clan of participants called ‘miners’ or ‘validators.’
Well, the most significant facet of the crypto landscape is decentralization. Yes, you heard that right; no governments or banks control cryptocurrencies. You retain total control of your cryptocurrency holdings.
Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP) are amongst the most popular crypto units.
Now that you know what cryptocurrencies are, it’s time to understand why you should purchase goods with crypto.
Top 6 Benefits of Paying With Cryptocurrencies
The popularity of cryptocurrencies as a medium of exchange is not out of thin air. Here are a few reasons why people prefer paying with cryptocurrencies over fiat for purchasing products –
● Increase Your Purchasing Power
Say a shoe you bought a year ago for using fiat money for $200 is now put up on the shelf for $250. This price increase is due to the decreasing purchasing power of dollars.
In the case of crypto, what you could buy with one bitcoin a decade ago, you can now buy it with significantly less BTC units today. This shows that the purchasing power of limited crypto assets like bitcoin will only increase. So, why not buy more with bitcoin instead of buying less with fiat?
● No Banking Fees
In comparison to banks or payment behemoths like VISA or Paypal, cryptocurrencies charge much lower transaction fees. This is because cryptocurrencies are decentralized, meaning they do not travel through intermediaries like banks. Put simply, crypto transactions are cheaper as they operate on their native network and thus do not involve middlemen fees.
● Cheaper International Transactions
Say you are buying from an offshore store. If you use fiat money, you have to shed some extra bucks in the name of exchange costs and international transactions. Also, you may have to wait for a few days until your payment is confirmed.
In contrast with this, cryptocurrencies are deemed the best for international trades due to lower transaction fees (due to decentralization). Thus, with cryptocurrencies, offshore purchases are much cheaper, faster, and easier.
● No bank account, No lengthy paperwork, and Accessible to all
Have you ever been frustrated by submitting a list of documents for opening a bank account? I know with eKYC features, things are a bit better. Well, what if I say you do not require any documents at all for crypto transactions?
Yes, you heard that right; all you need is a good internet connection, a crypto wallet with some crypto units in it. That’s it!
The best part is that this feature allows even the unbanked to participate in the economy.
● 24/7 Availability
It happens when you could not buy a product or send money to your friend just because it was a bank holiday. This won’t happen while paying with cryptocurrencies as the crypto world is active 24/7.
● Crypto Values Privacy
The traditional banking infrastructure requires your personal information like name, address, email, etc. Remember adding your credit card details everywhere?
With bitcoins or other crypto assets, your identity is a string of alphanumeric characters; bitcoin does not verify your address, name, or other personal details. Thus, it is nearly impossible to trace your identity in bitcoin transactions. Put simply, bitcoin does not evade your privacy.
To sum up, all these benefits, when coupled with the increasing popularity of crypto assets, will make paying with cryptocurrenciesthe new normal very soon.
Where to Buy Using Cryptocurrencies?
The crypto world is still in its infancy. Also, due to the volatile nature of crypto units, not many stores accept crypto payments. As a result, where to buy the best products using cryptocurrency becomes a daunting question.
We are pleased to say that our site – Apuri Outlet is amongst the few that accept crypto payments. To be more precise, we accept over 50 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Dash (DASH), to name a few.
With us, you don’t need to convert your crypto units to fiat as you can pay with your crypto wallet on our website.
Talking about the product range, Apuri Outlet is a one-stop-shop where you can buy products from brands like Armani, Gucci, Adidas, Nike, and Calvin Klein, among others. Designer clothes, stylish handbags, classy glasses, trendy sneakers, you name it, we have them all.
We, at Apuri Outlet, invite you to spend your cryptocurrency holdings on the best products from top brands.