How to pay with cryptocurrency using a cryptocurrency exchange?

Cryptocurrencies are digital money with the same scope of application as conventional currencies, with the addition of some interesting use cases such as in-game tokens, metaverse crypto, DeFi crypto, NFT markets, etc. Trading and investing are the most common forms of use. digital currencies In addition, the real-world application of cryptocurrencies is also increasing. Here’s what you can buy with cryptocurrency in the real world:

  • luxury items like yachts;
  • real estate – apartments, houses, etc.;
  • book hotel accommodation;
  • pay tourist trips;
  • fill the car and pay with cryptocurrencies;
  • even order pizza or coffee.

The number of businesses that accept cryptocurrency settlements is expanding. Let’s see how it actually works when you need to pay for the service with crypto.

The role of cryptocurrency exchanges

A cryptocurrency exchange is a service that allows users to buy digital currencies, sell them, exchange them, trade them, or hold them for the long term. Some large cryptocurrency exchanges guarantee reliable and secure cryptocurrency storage: Binance, WhiteBIT, Coinbase, etc.

Cryptocurrency exchanges not only allow trading options but also provide reliable wallets to store cryptocurrency. If you buy cryptocurrency and plan to hold it for the long term, expecting the market to grow in the future, it makes sense to use a cold wallet (a ledger or USB). Such devices are always offline, making quick transactions impossible. You connect a device to your laptop and withdraw funds if and when you want, but it takes time.

A hot wallet is what the big crypto exchanges offer. They are always online and you can contact them at any time without reconnecting.

Let’s say you signed up to the WhiteBIT cryptocurrency exchange, downloaded the wallet app, and bought some cryptocurrencies. Once you get the wallet, you can make financial deals. For example, a network of gas stations began to accept cryptocurrencies. The next time you need to fill up your car, you can use the WhiteBIT wallet. It takes a few simple steps: enter your wallet, scan the QR code of the gas station (or any place like a store, restaurant, cinema, etc.) and transfer the required amount of coins to the business wallet. That is.

We recommend choosing a reliable cryptocurrency exchange for efficient use of a quality and convenient wallet.

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