Cryptocurrencies Cryptocurrencies

Since it was first launched just over a decade ago, bitcoin has skyrocketed in popularity and spawned countless other cryptocurrencies which aim to decentralize finance and offer their users more freedom. Bitcoin was even adopted by the government of El Salvador as a secondary legal tender alongside the US dollar earlier this month, adding to its legitimacy.

Having said that, it’s still not all that simple to spend your cryptocurrencies at the present time. While there are a growing number of retailers (Microsoft, Tesla and AT&T are among the most prominent) who will accept payment in bitcoin or other cryptos, it can still be challenging to find an outlet for them. With that in mind, here are several slightly more unusual ways to spend your hard-earned cryptocurrencies online.

Paying for sports

The sportsbook industry is going from strength to strength right now. With more and more states in the USA legalizing the practice, there is an increasing demand for in-play betting and enhanced odds for the most popular sports in the country. As a transparent but still entirely anonymous payment method that cuts out the middleman, cryptocurrency lends itself perfectly well to online wagering. All you need to do is find a crypto betting website that serves the markets you prefer and lay down a wager in the currency of your choice and voila! Your deposit (and any winnings you make) will be transferred quickly and safely.

Buying a gift card

Although there might be only a handful of retailers (online or offline) who accept cryptocurrency as a valid form of payment, there are ways around this issue. One increasingly popular method of circumnavigating the problem is to visit a third-party website that issues gift cards for the retailer you ultimately want to purchase from. For example, businesses like Gyft, eGifter and Bitrefill have carved out a very respectable niche for themselves by accepting bitcoin (and some other cryptocurrencies) in exchange for gift cards for popular stores like Amazon, Starbucks and iTunes. In this manner, you can access the products you want – or simply give the card to a friend or family member as a present.

Read next: How is the Crypto Market Affecting the Forex Market?

Donating to charitable causes

Giving away your money to charity is one of the noblest and rewarding things you can do. If you find yourself with an excess of cryptocurrencies and aren’t sure what to do with them, you could always consider donating them to those more in need than yourself. Save the Children and the Red Cross are two such organizations that accept bitcoin, while you can help to fight internet ignorance by giving to Wikipedia, too. Plus, because all cryptocurrency transactions are anonymous, you can rest assured that your sensitive info is safe from prying eyes, too.

Retail therapy is always a good way to spend your money, but it can sometimes be difficult to find companies that accept cryptocurrency as payment. Get around the problem by betting on sports, buying a gift card, or donating your capital to charitable causes.

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