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Should you Spend Your Cryptocurrency?

By Keegan Francis | Go Full Crypto | 8 Sep 2020

The latest episode of the Go Full Crypto Podcast focuses on answering the question of whether or not you should spend your cryptocurrency. This is actually one of the more common questions we get. One of the reasons is that cryptocurrency is a bit of a misnomer in some cases. Take Bitcoin for example; Bitcoin makes a better digital gold, or free savings account than it does money or currency. Regardless, Mrugakshee and Keegan tell the audience how they would spend their cryptocurrency if they wanted to. There are basically two ways to spend your cryptocurrency. 

Crypto Visa Debit Cards

The first way to spend your cryptocurrencies is with crypto visa debit cards. These cards can be swiped at any visa terminal, or ATM in the world. What happens in the background in a company mediates the transaction and give you or the merchant whatever currency you're expecting, USD for example. Admittedly this way of spending cryptocurrency is a bit of a cop-out, as it required a third party to facilitate. These sorts of transactions are not truly in the spirit of cryptocurrency because they are not peer to peer in nature. The ultimate way to spend cryptocurrency is by sending it directly to the merchant or vendor you are interacting with.

Everyone Starts Accepting Cryptocurrency

The second way that you may spend your cryptocurrency hinges upon the reality where everyone knows how to, and wants to accept cryptocurrency transactions. This reality ultimately hinges upon everyone thinking and believing that cryptocurrency i.e. Bitcoin, is money. This is a pretty tall order. Most people only know what bitcoin is, let alone any one of your other cryptocurrencies. It will be a long time before you are able to spend your cryptocurrency using anything but a crypto VISA debit card. This is a reality that Go Full Crypto is willing to accept. We like to be realistic about the future, and acknowledge that it is unrealistic to expect the world to transition to a cryptocurrency based system all at once. We must allow people to transition in their own time. For those who want to interact with us using cryptocurrency, we will prefer that over the alternative. Until then, we will be buying or coffee with our Crypto.com VISA Debit card.

The Go Full Crypto Vision

We want to help people opt-into the world of cryptocurrency, one dollar at a time. In order to do this, people must need a reason. They need their own "why" behind discarding their government currency for the world currency of the future. Go Full Crypto is putting out content to help people discover the reason why they want to get involved in cryptocurrency.

Download Episode 11 of Go Full Crypto - Can Crypto Be Used as Everyday Currency?

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Keegan Francis
Keegan Francis

I am the owner of Atlantic Blockchain Company. We help onboard people into the world of cryptocurrency. We have a podcast called Go Full Crypto. The podcast tells the journey of how my wife and I are opting out of the traditional banking system.

Go Full Crypto
Go Full Crypto

Go Full Crypto means completely embracing the world of cryptocurrency. To go full crypto is to opt-out of the traditional financial system, and live completely in the world of cryptocurrency. Go Full Crypto is a podcast, blog, and business that offers cryptocurrency onboarding services.

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