The crypto industry has been undergoing a lot of changes in recent times. From the global emphasis on market regulation to several prominent crypto exchanges packing up as a result of perceived fraud, botched crypto projects, and many others, the industry has had to do a lot of adjusting to present-day realities. However, with these adjustments are prospects for users on their toes for a bite of the crypto cherry.
In this article, we will explore some of the information that would help you increase your chances of establishing yourself in the crypto industry. Specifically, we will introduce you to the idea of white label crypto exchanges, highlight some of their benefits, show you how to create them, and also point out 3 crypto fintech companies you can reach out to for help.
If you don’t already know, a white label crypto exchange (also known as a ready-made, ready-to-be-deployed, or template exchange) is not the same as the crypto exchange platforms that emerged with the popularization of blockchains. Instead, these exchanges are yet-to-be-deployed platforms that you can purchase and modify to your liking. Essentially, they allow you to become the owner or manager of a crypto exchange platform.
To further help you differentiate between regular crypto exchange platforms and the white label variant, here are 3 areas in which each type is unique.
The features on the regular crypto exchange platform are widely different from those on a white label crypto solution in two ways. The first way is in the area of diversity and the second is in the area of functionality. Concerning diversity, regular crypto platforms are fitted with many features for crypto users, from intuitive interface options (web, desktop, and mobile, for example) to liquidity hubs and dynamic wallets. Few of these features can be found on template exchanges unless you have access to options from companies like FintechService. Also, on these ready-to-be-deployed options, these features are almost always in a dormant state until the time of deployment.
Regular crypto exchange platforms are ‘online’ in the sense that users can access them and utilize them for trading activities and other crypto-related purposes. This means that a user can register for a regular crypto exchange and employ it immediately to trade, learn about trading, or anything else. On the other hand, users cannot immediately trade on white label crypto exchanges or utilize them for anything. This is because they have not been deployed. Therefore, until template crypto solutions have been purchased by users like you, tested, and deployed, they will remain ‘blank’ and unusable.
As we have shown already, a regular crypto exchange is active. One of the implications of this is that it takes a lot of time and technical prowess to change something on the exchange. Of course, a user registered to an operational crypto exchange platform cannot command or implement changes—they are called ‘users’ for a reason. On the other hand, template crypto platforms are modifiable. Even though they are referred to as ready-made, the fact that they are not online means you can still change a lot of things about them. This possibility of personalized branding is why many users like you have decided to rely on crypto fintech companies to own and manage crypto exchanges.
For an average crypto user, the biggest benefit of a white label cryptocurrency exchange platform is the possibility of branding. You should always choose to own a template crypto platform over existing regular platforms because of the high technical support you will get throughout the operation of the exchange. Furthermore, joining the march to own and deploy a white label crypto solution offers you the opportunity to learn a few things about how crypto exchanges are made. This will help you in the long run as it would distinguish you from other users.
As template crypto solutions are perpetually in a ready-to-be-deployed state, smart web/software developers make sure to update them with industry-standard security measures. Say that there is a type of malware released by cybercriminals to steal funds from existing crypto exchanges, exceptional developers would build protection against such malware into their ready-to-be-deployed crypto platforms. Thus, once you acquire these platforms, you would not have to worry about paying excessive white label crypto exchange prices due to the need to upgrade the platform to provide up-to-date security for user data.
Template crypto exchanges offer the advantage of continued support after deployment. If you were to purchase an existing and already running crypto exchange platform, you will likely lose the support of the original developers. You may not even want them to stay too long onboard as a way of protecting your exchange. You don’t have to worry about this with ready-to-be-deployed crypto exchanges. If you want, the developers can continue to assist you in supervising the platform while it is running. However, this usually depends on your agreement with the crypto exchange builders.
A white label crypto exchange platform offers endless possibilities. If you are an established programmer yourself, you can simply purchase this platform and then proceed to modify it with the most advanced features you can think of. And if you know nothing about coding and the ABCs of crypto exchanges, you can also engage the services of accomplished developers and scale your crypto platform. Just like how novel AI solutions like ChatGPT are proving that scalability is doable across different areas of computing, ready-made crypto platforms offer options for innovation.
Choose a Crypto Exchange Builder: Different crypto exchange developers focus on different things. Some are proficient with blockchain solutions that have little to do with crypto trading, while others are great at designing NFT marketplaces. It is your responsibility to know which is which and reach out to them.
Outline Preferred Features: Once you have started to engage your preferred crypto exchange developer, you will most likely be given a script that contains the features of the available ready-made crypto exchanges. If these are not to your liking, it is at this stage that you inform the developers and see if they can implement these changes.
Negotiate the Particulars of the White Label Crypto Exchange Price: An important consideration for getting your template crypto solution is the price. To be fair, crypto exchanges are generally expensive, and asking a crypto fintech company to develop one for you may cost upward of $100,000. However, ready-made crypto exchanges are usually cheaper. So, if you are clear about what you want, you can get a reasonable white label crypto exchange fee.
Inspect the White Label Cryptocurrency Exchange Solution: The next thing to do is inspect the available template crypto exchange solution that meets all your preferences. Look out for bugs and other coding issues.
Supervise, Adapt to Market Demands, and Improve: Once you find that the white label crypto exchange is good enough, you can go ahead and deploy it. The responsibility to supervise it also falls to it, unless you want to outsource it. Whichever you choose, make sure to adapt to market demands and improve the features so that your users have nothing to complain about.
There are many, many crypto exchange builders around. The top white label crypto exchanges of 2023 are naturally from these developers.
FintechService.one is great at developing everything crypto. The company has been operational for more than 3 years and completed over 16 crypto-related solutions for pressing issues. The ready-made crypto exchange platforms from FintechService are some of the best around because they are fitted with virtually every important feature. Also, the company is efficient and will require no longer than 3 weeks to complete your project. Its fees are also reasonable, so you can create a dynamic and personalized crypto exchange platform from its white label options.
Crypto Next is another good crypto fintech company. It is particularly compatible with small businesses with a focus on simplicity. Therefore, Crypto Next is your best bet if your market segment covers SMEs (small and medium enterprises).
Xooa is special because it is known for its focus on NFTs (non-fungible tokens), gamification, and other emerging areas in the metaverse. Like FintechService, Xooa has also been around for a while, so you can benefit from its experience. Also, it serves small businesses as well as individuals.
Taking the time to look for a good crypto fintech company to purchase a white label cryptocurrency exchange solution from is a smarter choice than joining an auction for existing and established exchange platforms. The benefits of the former choice have been listed in this article, as well as how you can start serving other crypto users by relying on the ready-to-be-deployed variants of these crypto exchange platforms.
In this article, we will provide a step- by-step guide to adding the new KRRX token on Trust Wallet app and converting all your old KRRX tokens on Trust Wallet to the new token.
On January 12, 2023, the KRRX token migrated to a new contract address. This move, or rather upgrade, tightened up the token code to make it more secure and impregnable to all known threats. All minted and circulating KRRX tokens across all platforms will move to this new address.
KRRX is the native token that serves a popular exchange, Kyrrex. It will also, with time, serve a wide ecosystem. Hence, it's a very popular coin held by many users on exchanges like Kyrrex, HiBtc and Huobi, and also in non custodial wallets. If you're one of those holding KRRX in Trust Wallet, this guide will show you the steps to add the new KRRX tokens to your personal wallet. We will also show you how to convert your old KRRX holdings to coins using the new contract.
If you hold KRRX in Trust Wallet (and any other non custodial app), you first of all need to exchange your old coins with the new ones. The only place to do this is on Kyrrex.com, the Kyrrex app, or @krrx_bot on Telegram.
Here's how to use Kyrrex.com to deposit your old KRRX tokens.
Make sure you're copying the deposit address for KRRX Token OLD. The contract address for the old KRRX token and the new KRRX token are different.
KRRX is a TRC20 token. So make sure you have some Tron in your wallet for gas fees.
You are going to be adding the new KRRX token to Trust Wallet soon. To avoid confusion, we recommend removing the old Kyrrex entry first. Here's how to do it.
Please update your Trust Wallet app to the latest version before you continue.
Cryptocurrencies are changing how money works, and they're already reshaping financial markets. More and more people are joining the train in fear of missing out on what is touted to be the future of monetary transactions. While cryptocurrency is reaching a broader audience, you won't be late if you followed the trend right now. If you want to learn how to enter the market the safe way, this where you need to be to learn how to do that.
Cryptocurrencies are virtual currencies that exist as digital records on blockchains. A cryptocurrency (sometimes wrongly called crypto currency) is protected by cryptography, hence the name. Security is one of the driving features of the technology, as no one can make changes to the blockchain without verification. Bitcoin's boom brought about a wide range of different cryptocurrencies with diverse real-world applications. You can buy and sell crypto via centralized and decentralized exchanges, but their value can be traded on derivative markets.
Each cryptocurrency asset you buy is stored in a wallet. Every wallet's transactions history can be publicly accessed on the blockchain that underlies the cryptocurrency.
Users transfer crypto assets via wallet addresses. If you send a cryptocurrency asset using the wallet address of a different crypto asset, your token will be lost forever.
Your wallet won't be credited with the crypto asset until the transaction has been verified on the blockchain.
The crypto market isn't regulated by any government or central authority. Instead, they're decentralized and run on the internet. Before buying and selling crypto assets, you should understand how the market works and the risks involved. You should find out how crypto prices are affected, how to verify the current price of a cryptocurrency asset and understand the implication of purchasing the token. However, cryptocurrencies are traded the same way you buy and sell currencies or stocks. Prices go up when the demand rises and fall when investors choose to liquidate their assets.
As we mentioned, a coin's demand and supply ultimately decide its price. For example, Bitcoin's price rose astronomically in 2018 due to the high demand at the time. The same happened in 2021's bull run.
The same will happen with any crypto asset whose demand is higher than its supply. Conversely, when a crypto asset's demand is lower than its supply, the price goes down.
Other factors affect crypto prices. For example, a cryptocurrency project's success could drive demand, which will bump up the price. But, on the other hand, the price will fall if the project decides to pump more crypto tokens into the market without the corresponding demand. Financial regulation news that affects the crypto market will also cause drastic price changes. For example, reports that the SEC was taking Ripple to court saw the price of the XRP cryptocurrency fall.
So, you must follow the news and crypto projects closely before buying any coin.
A cryptocurrency's tokenomics is data that helps you understand its value. The term was coined by mixing the words "Token" and "Economics." Every cryptocurrency project has a detailed tokenomics report. Most of them are detailed in the project's whitepaper. The data includes the token's supply, how the coins will be distributed, who receives what, and the release schedule.
As we mentioned, a cryptocurrency's supply determines its price to a large extent. Also, you can't peg a token's value to its price.
For example, a crypto token of $100 isn't necessarily more valuable than another token worth $1. You'll have to put the token's circulation supply and market cap into consideration.
More on that below.
A cryptocurrency's supply is divided into three categories: circulating, total, and maximum. The circulating supply is the number of tokens that are publicly available for trading on exchanges.
The total supply is the number of coins in existence. Unlike the circulating supply, it includes coins that haven't been released to the open market because they've been locked for staking or in smart contracts.
However, the total supply does not include verifiably destroyed coins and those that haven't been mined.
The maximum supply includes every token in a cryptocurrency's life span. That means it covers the total supply, coins that haven't been mined, and those that have been destroyed.
A cryptocurrency's market cap (or market capitalization) is the total value of the entire tokens in circulation. To calculate a cryptocurrency's market cap, you must multiply its current price by its circulating supply.
For example, if Bitcoin's circulating supply is 17,000,000 and its price is $40,000, its market cap is $720,000,000,000. A cryptocurrency's fully diluted market cap is the total value of the token's maximum supply. For example, if Bitcoin's maximum supply is 21,000,000 and its current price is $40,000, its fully diluted market cap is 840,000,000,000.
While the news of cryptocurrency gains and advantages are legitimate, they shouldn't be the only things that sway your decision to buy or sell. Cryptocurrencies are highly volatile assets. They experience sharp price hikes and drops, and you can lose a lot of money if you don't know what you're doing. You must have a clear objective and strategy.
As we mentioned, cryptocurrency's volatility makes it riskier than many other financial assets. It's also unregulated, and you don't get any insurance for losing your funds. Every exchange boldly put out disclaimers of crypto's risks, making sure you understand what you're getting into and that you can't hold them liable for the losses you may suffer.
Before you start trading, you should be ready to lose everything. So, consider going in with what you're comfortable losing.
You should comb through articles like this to learn everything you can about cryptocurrencies before investing. In addition, there are lots of educational resources online to help you know everything you should. Compare these articles to make sure you're consuming genuine information and read them over and over until you understand every term and process.
Before you jump on a trending cryptocurrency asset, make sure you learn everything about the project behind it. People who go into crypto compare projects before choosing one to invest in. You should do the same. Resist the fear of missing out (FOMO in crypto speak) and stick to projects you understand and trust. Check out the cryptocurrency's tokenomics to be sure it's what you want to follow.
Check out a coin's community and developer activities to know how active the project is. Conversely, a crypto project that has been around for a while with low dev and community activity is one you should probably avoid.
Your goal should determine where you put your money and how to trade. For instance, if you want to make quick gains rather than long-term investments, you should consider short-term trends and metrics, and coins that will provide high returns shortly. However, if you don't mind waiting for years, you can go for cryptocurrencies with low market capitalization and vesting periods. First, make sure you confirm that the project is promising and has a great future.
While it's vital to compare crypto assets and focus on a number of coins, you shouldn't throw all your funds into a single project. Not only will you mitigate your overall risk by investing in multiple projects, but you also maximize profit when different crypto assets appreciate. The only challenge with diversifying your asset is tracking your extensive crypto portfolio. It can bedifficult to keep track of every asset's performance as a lot could be happening at once.
This is why most people go for coin tracking methods. You might be wondering, "Is cointracking safe?" Well, there's no simple answer. Different tracking tools can help you keep up with your portfolio. All you have to do is check their reviews and track records to know the safest one to use.
From cryptocurrency wallets to metric tools, there are different cryptocurrency trading tools at your disposal that you can use to track prices, follow trends, and keep your funds safe.
This is the most crucial aspect of cryptotrading and buying currencies online. Unfortunately, there are many easy ways to lose your funds. For starters, there's no way to recover your assets once you send them to the wrong address, and if anyone gains access to your wallet's cryptographic keys, they have total control of your coins. Learn to keep the keys to your wallets safe and consider going for hardware wallets to boost security.
Now that you're ready to be a coin trader, you should decide whether you're going to be making money trading cryptocurrency in the short term or if you want to hold tangible crypto assets.
Your choice will determine whether you're involved in spot, margin, or futures trading.
You should do your due diligence before choosing a digital exchange system to trade cryptocurrencies. Then, you can decide to go for a centralized or decentralized crypto exchange.
Centralized exchanges control a user's crypto assets as they hold the cryptographic keys to their wallets. This makes it easy to execute trades instantaneously. This marketplace can be akin to a trade exchange, as buy orders can be swiftly matched to sell orders. To enjoy the full benefits of a centralized exchange, you have to go through a rigorous registration process, providing proof of identity and other personal information.
On the other hand, users are in complete control of their assets in decentralized exchanges. They don't have to sign up or provide personal data to trade. Instead, you'll use your wallet address to sign in to the exchange and execute smart contracts to swap assets in your wallet for other assets. Centralized exchanges are faster, easier to use, and more straightforward than decentralized exchanges. They also expose you to more trading pairs.
So, make sure you research these trading platforms and check out exchange reviews before you start trading.
Whether you're going for a centralized or decentralized exchange, you should know how they work, their trading fees, limitations, and trading pairs. In addition, you should check their liquidity, response time, and customer support.
With spot trading, you're buying a crypto asset at its original price. This is where coin selling and buying take place. This process should be easy if you know how to buy and sell currency in a centralized FOREX exchange. However, if this is your first time, this guide will show you the ropes.
People who trade cryptocurrencies exchange crypto assets for fiat currencies or other crypto tokens. When you place a buy order, it is automatically matched with another trader's sell order. In addition, everything works on the digital exchange server, which means you don't have to be online for the exchange to fill your orders. Spot Trading is the safest way to buy cryptocurrency and keep it. You can transfer a token to any other wallet from that of the exchange where you purchased it. You have to understand crypto trading pairs and buying and selling mechanisms if you've not done this before.
The race towards stress-free, productive and efficient everyday life is reaching an all-time high. Individuals are not the only ones digging around for methods to reduce the hassles involved in work and play; multinational corporations are also doing so. The Blockchain revolution came at just the right time with its many prospects, including the promise that ordinary people would be able to access services that are continents away without having to pay trolls and gatekeepers. Moreover, the currency of exchange would be finite, never bending to inflationary pressure, exchange rates, and every other factor that currently limits the traditional fiat system. But is this revolution relevant? Are the currencies that are emerging at every turn usable for everyday transactions? In other words, what can you buy with cryptocurrency?
Since the first recorded transaction of Bitcoin by pioneer Laszlo Hanyecz in 2010, the use of cryptocurrency to buy and sell has skyrocketed. In the same way, visionary individuals and organizations have set up trading platforms to keep the ball rolling. What this means is that the use of Bitcoin and its sister cryptocurrencies is doubling, tripling, quadrupling every day. The smartest companies, knowing this, are setting up online and offline platforms where you can use Bitcoin to buy almost anything, from groceries to online games, from computer parts to you-name-it.
So here are ten things you might be interested in buying with your bitcoin:
When Satoshi Nakamoto launched bitcoin, its detractors dismissed it as a gimmick with a short shelf life. One of the concerns centered around what you can buy with Bitcoin. As it turned out, you can buy food with it. Laszlo Hanyecz is the very first person who used Bitcoin to do something other than making predictions on colourful line graphs and regression blueprints. He spent 10,000 BTC to buy two pizzas from a Papa Johns in Jacksonville, Florida, on May 20th, 2010. Ever since then, pizzas have become a kind of symbol for the everyday stuff that can be purchased or retailed using Bitcoins.
Bitcoins are about as precious as gold at the moment, if not more. However, the advantage of Bitcoin is its borderless nature. This means that as long as a grocer accepts cryptocurrencies as payment, you would be able to eat and drink at any private or luxury restaurant anywhere in the world without having to change your money into the national currency. Let’s not forget that the coin is digitally transferrable, which means that a tap on your phone screen could easily get you the most exotic meal ever. Of course, if the nearest restaurant to you accepts them, this is just as well. Today, Papa Johns in Jacksonville is not the only store accepting Bitcoins; Lightning Network has a platform that receives your Bitcoin and 1agets your food to you.
If you happen to be in the right KFC, Burger King, Pizza Hut or Subway branch and somehow left your wallet at home, you can use the wallet in your phone to pay for your meal with Bitcoin. Whole Foods and one or two other supermarket chains also let you buy groceries with Bitcoin.
If Bitcoin cannot be used to purchase the oldest needs of human society, it might be pretty useless to a lot of people. But this is not the case. With a bit of Bitcoin and network connectivity, you could browse through rows and rows of clothes from the comfort of your bedroom, select your choices and pay for them. There are no limits to the kind of clothes you can buy, costly or budget, or the clothing brand. The biggest designers, from Chanel to Clavin Klein, and several others on that grade are investing in and accepting Bitcoins. Even thrift shops are not left out.
Again, the trick is to get clothing stores that accept cryptocurrencies. More and more business organisations are creating online platforms to facilitate the process. However, getting a gift card from the store you want to patronise is one of the easier methods to know whether it accepts Bitcoins or not.
No, Amazon does not directly accept Bitcoin but there is a convenient workaround—there's always a workaround.
All you have to do is find a crypto site like Purse.io or Fold that offers middleman services on Amazon. In a nutshell, they can order a product on your behalf while you reimburse them with the equivalent value, in Bitcoin. Some of them can sell you Amazon gift cards which you can then use to buy whatever you want on the eCommerce service.
For geeks and other lovers of video games, this is one of the biggest selling points of the Blockchain revolution. Video game distributors and other stakeholders in the gaming industry have been using this opportunity rather well since 2016. Steam became even more popular that year when it became possible to buy Steam games with Bitcoin via its partners. Several other game merchants followed Steam's lead and jumped on the crypto wagon.
Now that all kinds of new devices, mobile phones and PCs, especially, are being optimised to provide exciting features and fantastic displays, BTC has allowed vendors to reach out to every corner of the world. There are even more platforms in this regard that help you buy video games directly from developers and retailers. Joltfun, Bitrefill, Keeps4Coins, Green Man Gaming, and several others are there to help you buy from Steam, Xbox, Nintendo, Rockstar Social Club, and even Google Play. Of course, you can buy directly from the big boys, like Xbox and Playstation Network, and not have to rely on these middleman platforms.
Not only can you use crypto to purchase exciting new titles from game distributors, you can buy electronics with bitcoin, including the consoles and computers the games are played on. You don't have to take our word for it. Find your way to Newegg and some other retail stores and you'll be able to pay for pretty much anything you fancy with bitcoin.
If you're looking for where to buy computer parts with Bitcoin, Newegg has got you covered as well.
If you're swimming in eBay gift cards, you can use a service like Paxful to convert them to Bitcoin, Tether (USDT) or Ethereum (ETH).
However, the transaction will not take place on eBay since the site doesn't deal directly with crypto. Simply go to the site of the crypto service and trade in your verified eBay gift card for the desired virtual currency.
There will be several offers listed by different vendors and it's up to you to choose the one with the best rates.
This is exactly the same method you can use to buy Bitcoin with razer gold gift cards on supported websites.
Identity and privacy are a big deal now. Many Virtual Private Network (VPN) providers have joined the crypto wagon long ago, which means that you can protect your identity with a bit of Bitcoin. Thanks to the COVID-19 pandemic that drove most people indoors last year, more VPN providers have joined the train and now accept Bitcoins. These include ExpressVPN, ProtonVPN, NordVPN, SurfShark, CyberGhost VPN, IPVanish, PIA, and many others.
One of the advantages of buying a VPN with Bitcoin is that you can easily evaluate the pricing and services available upon purchase. A single BTC, after all, is a single BTC when transacting with ExpressVPN or ProtonVPN.
For a currency that is digital in its entirety, it would be a bit odd if it could not be used to buy websites and cloud-based services. Whether you are interested in a temporary cloud membership, or just want to build some features on your own website and require add-ons that are on sale, finding web hosting that accepts bitcoin is an easy task. MEGA, one of the biggest cloud-storage services, accepts Bitcoin, and so do others like the Wikimedia Foundation (the establishment behind Wikipedia). So you can buy several gigabytes of cloud-based storage or a domain name, a private server or anything along those lines with BTC.
You can evaluate the terms and pricing of each web hosting or cloud service provider and reward the one that offers you the best value with some of your satoshis (Bitcoin fractions) in exchange for a monthly, weekly or annual plan.
Airline tickets, train tickets, tickets to go out on the sea, tickets for a show in the neighbourhood or the other end of the world, you name them. This is one of the areas where cryptocurrencies, as coins that do not recognise any kind of barriers and borders, come into their own. As more airline companies are finding out, some people prefer to have their wealth with them as they go, and so they have started to create online exchange platforms that not only accept your Bitcoin but also give you some in exchange for fiat currency.
Some of the airlines that accept Bitcoin are Virgin Galactic, CheapAir, Destinia, aitBaltic, Peach Aviation, Abitsky, LOT Polish Airlines, and several others. On their websites are options to pay in BTC, so the entire process is smooth and stress-free.
We have to thank Elon Musk for popularizing the idea of buying cars with BTC. Tesla made a big deal of selling out its cars in exchange for Bitcoins. That is, before Musk pulled out with an excuse.
Others have followed, naturally, which means that there is an entire industry of supercars waiting to be purchased with Bitcoins. Maybe you want something that is neither sleek nor likely to sink your entire savings in one transaction. No worries. There are brands and car dealerships that accept Bitcoin as payment, some of which sell only second-hand vehicles. So, if one of your crypto tokens has mooned enough to support your thirst for a Lambo, Bugatti, Porsche or a similar supercar brand to cruise around in, you can reach out to dealerships like BitCars, AutoCoinCars and others that wheel and deal in cryptocurrencies.
Note that the majority of car dealerships will only take Bitcoin if you are willing to make the transaction in the cryptocurrency. This means that you wouldn’t be able to buy the cars you want at such shops if you are not willing to pay only BTC for it.
One of the selling points of Bitcoin at the moment is the prospect of long-term investment. Because people are still getting onto the cryptocurrency train, there is a tendency for the value to jump sky-high and plunge to the ground. A good example is the May situation when the value of a single Bitcoin fell below $30,000. Considering that the coin was worth about $64,863 a few weeks prior, this was scary. However, it was also an avenue to invest in a sector that is difficult to enlist in: Real Estate.
As the most profitable aspect of Real Estate is in its long-term investment factor, it is a perfect fit for Bitcoins. This is why realtor agencies like Bithome, WeWork, SafeWire, Republic, etc. are becoming increasingly popular. You can take advantage of this and buy properties with Bitcoin especially considering the hassles required when you want to pay with fiat money.
Gold has always been somewhat elusive. It is currently the most precious metal in the world as the gold market is worth about 11 trillion. This is one of the reasons some people take a binary approach to gold and bitcoins. For them, it is not to be or not to be. Why not just buy gold with Bitcoin and have both?
Almost anything can be purchased with Bitcoin today, and the world’s most precious metal is not exempted. If the fluctuation of Bitcoin prices scares you, you might as well buy gold which is considered by many to be stable and more secure. Platforms like European Mint and Bitgild are well-known for their interests in playing the merchant so you can exchange gold bars for Bitcoins and vice-versa at a reasonable rate.
Naturally, you can use Bitcoin to buy other cryptocurrencies. Without question, this is the most popular way for people to acquire other digital tokens. This exchange is currently a mine because different crypto coins have varying exchange rates relative to BTC. If you think that a new coin that is currently worth 0.00001 percent of a penny is likely to significantly appreciate over time, you could buy a bunch of units with your Bitcoin. This is how Ethereum came into the picture and it is currently on the top shelf of cryptocurrencies. So yes, other currencies are a go.
With the price of BTC so high and most analysts projecting even higher gains in the future, it might not look very appealing to hold only BTC if you're a retail investor. Using your BTC to pivot into altcoins with strong base fundamentals and real-world use cases might just be your ticket to financial freedom. And this is perhaps the easiest thing to do with bitcoin: simply go to an exchange or DEX and buy (or swap) your BTC with the equivalent value of an altcoin you fancy.
Exchanging one digital currency for another is pretty easy as long as you're aware of a few ground rules.
You can exchange your crypto on a centralized or decentralized exchange for another one by buying its trading pair. For example, if you hold BTC and wish to buy some Doge, you can do so by going to the Doge/BTC pair on the exchange and selling or swapping some of your bitcoin to acquire the equivalent value in Dogecoin.
Animal meme-rs know doge as a particularly cute breed of the Shiba Inu dog that reached iconic status in the meme community. Crypto lovers know it as the code for Dogecoin, which briefly reached a market cap north of $81 billion on the back of an Elon Musk-inspired pump.
The success of Doge naturally gave rise to a plenty of coins with animal-inspired names and themes. With cats and dogs and their relatives in the animal kingdom playing such important roles in cryptocurrency's modern history, it's only fair to be able to spend some of the coins on animal supply. Stores like Bitshopping provide access to a whole host of pet supplies including but not limited to toys, food, and grooming tools. You just need to select your items, checkout, and then pay in crypto. Some sites out there even let you purchase pets with Bitcoin.
0.00000001 BTC or 100 million satoshis is the smallest unit of Bitcoin. In theory, this is the smallest amount of bitcoin that can be held.
In practice, the minimum amount of bitcoin you can buy depends on where you're buying it from. Each exchange has its own terms and conditions. Some can let you buy as low as 0.000001 BTC while others won't let you buy anything less than 0.0001 BTC.
Are you a newbie to the Blockchain age and have no idea how to get bitcoin? It is relatively easy. There are estimated to be around 10,000 different crypto coins at the moment, some of which are raising money through initial coin offerings (ICOs). This is the easiest way to get crypto coins. Of course, it usually takes a while before a new coin gets you anywhere or anything. Therefore, if you are interested in cryptocurrencies enough to spend some money, you can directly buy established coins from many vendors and wallet providers. Not only can you buy bitcoin for long-term keeping, you can buy things with Bitcoin as well.
Knowing the different rates that these exchange companies charge per unit of Bitcoin is important. Google is your friend, so make sure to determine that you are getting the best rate from a reliable source. Of course, if you have a wallet, that resolves the issue, so you can buy airline tickets, video games, cars, or more crypto coins if you want. There is definitely a store accepting Bitcoin. You only need to search them out.
All in all, having Bitcoin is a gateway to endless possibilities. As more and more people and organizations get interested and involved with elements of the Blockchain revolution, especially crypto assets and currencies, the window of opportunity can only get wider and wider. Naturally, there are still a few limits to the wide usage of Bitcoins, especially since some companies are still hesitating. Nevertheless, the basics and luxuries of life are available for purchase by Bitcoin, you only need to know where these providers are.
So, if anyone were to ask you the question, "What can I buy with Bitcoin?", you can helpfully point them in the direction of this article.