More Than an Investment - Crypto in Everyday Life
July 19 2018 - 12:39PM
ADVFN Crypto NewsWire
For many people cryptocurrency means bitcoin, and bitcoin means
investments and crazy returns or losses. For an increasing number
of people though, crypto in everyday life is becoming a
reality.
Crypto coffee
Teaching chemistry at the College of San Mateo in California,
Jeff Flowers heads to Dianda’s cafe close to campus for his morning
pastries and coffee.
He pays for both at the counter using a Bitcoin debit card.
“So what happened, I was able to buy a cup of coffee using
cryptocurrency, using a BitPay debit card,” commented
Jeff.
Jeff isn’t alone in using crypto in everyday life. He’s just one
of a growing number of regular people who are seeing the benefits
of using crypto as an actual, spendable currency.
San Francisco resident Marisha Sahay uses a Coinbase wallet to
store her bitcoin, and just like Jeff, she uses her crypto to buy
drinks at Stookey’s Club Moderne.
Stookey’s owner Aaron Cole believes that cryptocurrency is the
future of currency, and commented that “I’m a big backer of it.
It’s something that’s going to be pretty mainstream.”
Worldwide standard currency
Marisha Sahay hopes that beyond using crypto in everyday life,
she will one day see it as the worldwide standard currency,
completely removing the need for currency exchanges and all of the
attributed costs and hassle –
“I go to India, and I have to change dollars into rupees and
then back into dollars, so I lose a lot of money.”
Online retailers are also getting behind the idea of people
using crypto in everyday life, with both Purse IO and overstock.com
providing payment options that include cryptocurrency.
“We’re in the business of making it easier for people to
purchase stuff on our site whether that’s credit cards or Paypal or cryptocurrency. That
made sense to us,” commented overstock.com executive and board
member Jonathan Johnson.
Johnson also claims his bonus last year was paid to him in
bitcoin.
At the time of writing overstock.com expects to do
somewhere in the region of USD 10 million in sales that will be
paid in cryptocurrencies.
James Canton, a San Francisco based futurist, believes that
“in 2018 we’re going to see a significant mainstreaming of
cryptocurrency, particularly for purchasing more real things that
people need.”
“You’ll be able to walk into grocery stores, be able to buy
them for vacations and travel. You’ll be able to basically spend
cryptocurrencies the way you spend dollars today.”
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