Ah, the infamous story of the world’s most expensive pizza. In 2010, Laszlo Hanyecz made the first-ever cryptocurrency purchase when he bought two Papa John’s pizzas for a casual 10,000 Bitcoin!
Today, that pizza would be worth around $720 million for two pizzas. And while the story is excellent for a laugh, it’s also pretty ironic.
Why? Fast forward to 2024, and most people still can’t use Bitcoin, Ethereum, or any other type of crypto to buy their everyday takeout. You’d think that when Bitcoin’s value skyrockets, your favorite pizza joint or grocery store would’ve figured out how to accept it. But nope—we’re still waiting to buy food with crypto.
Sort of.
Coins for Cards: The Next Big Step in Crypto
This is because there is a sly, savvy way to use your crypto for food today, and it doesn’t involve waiting for Bitcoin to become accepted at your local café.
Gift cards.
Using cryptocurrency to purchase gift cards for restaurants, food delivery services, and grocery stores, you can turn your digital currency into a tool for everyday transactions.
Here’s how it works:
- Find a platform that sells gift cards for crypto (something like CoinsBee).
- Choose the restaurant or grocery store you want to buy from. Want to splurge on a fancy Uber Eats delivery? Perfect, just find that gift card.
- Buy a gift card with your cryptocurrency. These platforms accept Bitcoin, Ethereum, Litecoin, and more.
- Get your gift card code—instant delivery—and spend it just like cash.
This may sound like an unnecessary detour compared to using a credit card or plain old cash, but it’s not as tricky as it sounds.
How Cryptocurrencies Are Making Everyday Payments Easier
The elephant in the room: Why even bother with cryptocurrency in the first place?
Because it’s a better way to handle your transactions in many cases, while buying gift cards with crypto might seem odd, there are some significant upsides that traditional payments can’t match.
1. Security and Privacy
Every time you pay with a card or online wallet like PayPal, your personal information—card numbers, names, billing addresses—flies across the web. With crypto, none of that personal data is needed. Payments are sent from one digital wallet to another, so you’re not exposing your identity with every purchase.
2. Global, Borderless Transactions
Traditional banking systems have fees, restrictions, and sometimes lengthy delays when spending money across borders. Cryptocurrencies are global, so paying in Bitcoin is the same whether you’re in Brooklyn or Bali—no currency conversion or transaction headaches are required.
3. Cut the Middlemen (and Their Fees)
The problem with banks and payment processors is that they take their cut every time you spend money. Crypto cuts out the middleman. With a crypto wallet, you pay directly from your account to the recipient—a gift card site, a friend, or a restaurant.
4. Future-Proofing Your Money
This is more long-term, but crypto is shaping finance’s future. By getting used to paying with Bitcoin or Ethereum now, you’re familiarizing yourself with a system that’s likely to keep growing—big time.
The Best Cryptocurrencies for Daily Payments
Convinced? Or at least curious? Now comes the question: Which cryptocurrency should you use for daily payments like food or takeout?
1. Bitcoin (BTC)
This is the big one, the granddaddy of them all. Bitcoin might be the best-known cryptocurrency, but ironically, it’s not always the easiest or cheapest for smaller daily purchases. Still, it’s an easy entry point for big purchases or if you just have Bitcoin lying around.
2. Ethereum (ETH)
Ethereum is another big name, and while it’s fast and widely accepted, the downside is the gas fees. These are fees required to process a transaction on the Ethereum network, and sometimes, they can spike, making smaller purchases less practical.
3. Litecoin (LTC)
Here’s a cryptocurrency specifically designed to handle smaller, everyday payments. Litecoin is like the little sibling of Bitcoin but with much faster transaction times and much lower fees. Buying gift cards or making direct payments is usually a solid option.
4. Bitcoin Cash (BCH)
Bitcoin Cash was created as a more practical alternative to Bitcoin, with faster transactions and lower fees. It’s growing in popularity for daily transactions, and you’ll find that many gift card platforms now accept it.
5. Dash
If speed is your game, Dash is hard to beat. It was designed for fast, low-fee payments, making it ideal for small purchases like groceries, food delivery, or a meal out. The transaction fees are often just pennies, and payments go through in seconds.
