If you’ve amassed wealth using cryptocurrency, then well done. The golden rule of the community was simple: hold on for dear life (HODL). Now these speculative investments have become a real store of value, and many people are wondering how to spend their money effectively.
Of course, crypto is a little bit different from regular cash, so what you spend it on should also perhaps be a bit different. Yes, you can be boring and convert it to dollars, pounds, or euros, but why do that when there are so many opportunities to spend crypto directly? After all, that’s what the currency was originally designed for.
So if you’re bored of watching crypto charts in your favourite wallets fluctuate all the time, here are some of the ways you can look at spending your money.
Go to a crypto casino
These days, there are online casinos that specifically cater to people who hold money in the form of cryptocurrency. These allow you to deposit directly in crypto and sometimes even bet in crypto, so you don’t have to spend regular dollars.
We’d suggest looking for a no KYC crypto casino if you’re keen on privacy. These usually only ask you for an email, your name, and a phone number when you sign up. This means you can start playing games with real cryptocurrency immediately without having to wait for know-your-customer (KYC) checks.
Some casinos will ask you to provide more information about who you are to verify your identity when you withdraw. Not all will do this. Therefore, you can often bet on crypto casinos anonymously, maintaining your independence and privacy.
Book a charter flight to a tropical destination
Have you noticed something? Many people who own a lot of cryptocurrency will often book charter flights to tropical destinations without having to pull out a credit card or worry about foreign exchange.
The travel industry is now fully embracing digital currencies because of the sheer number of people who own cryptocurrencies who want to go to far-flung tropical destinations. You can pay using Bitcoin and many other cryptocurrencies for flights, hotels, and rental cars. Some will even accept minor currencies like Dogecoin and Litecoin.
What’s nice about booking with crypto is that it’s a great way to avoid the fees and hassles of traditional banking while on the move. While international banking has improved significantly in recent years, most people don’t have international bank cards to offer low rates. For these individuals, it’s nice to use cryptocurrency options.
Drive a luxury supercar
What about spending your cryptocurrency on driving a luxury supercar? Previously, this was just a fantasy, but now many car rental companies allow drivers to pay using cryptocurrencies instead of regular dollars, euros, or pounds. This move is actually significant for the industry.
For example, Ferrari recently announced it would start accepting cryptocurrency as payment for private luxury vehicle sales. You can also use BitPay to purchase your dream cars from various high-end dealerships. Even classic car collectors like RM Sotheby’s are now entertaining the idea of allowing clients to pay using cryptocurrencies.
Secure your ticket to outer space
If cryptocurrency recently put your wealth into the stratosphere, you can now secure a ticket to outer space. Commercial space travel is no longer restricted to science fiction, but instead it is something you can now purchase using cryptocurrency stored in your wallet. For example, Virgin Galactic, run by Richard Branson, now sells space flights using Bitcoin. You can pay with this currency, allowing you to go right to the edge of space for the ultimate futuristic flex. What’s cool about this option is that you are using modern decentralised finance to take advantage of the latest in aerospace engineering technology.
Build your Metaverse enterprise
If you’re somebody who’s interested in virtual real estate, then you might want to build your enterprise in the metaverse using cryptocurrencies. Many people are developing, buying, and selling virtual land on this platform, and then using Decentraland and The Sandbox to leverage cryptocurrencies like Ethereum and MANA.
Once you have a piece of virtual real estate, the fun is almost endless. You can design digital mansions and open online storefronts for your brand. You can also rent virtual space for concerts and events.
These options are great if you’re looking for a way to participate in the growing digital economy. While the metaverse itself isn’t particularly popular right now, there are plenty of other similar options out there that you might want to get in early on, just like you did with cryptocurrencies in the first place.
Flex with high-end fashion and luxury watches
If you are somebody who loves status, then you might want to use your cryptocurrency to flex with high-end fashion and luxury watches. Many retailers now accept Bitcoin, Ethereum, and Litecoins, so you can spend these cryptos just like you can with regular dollars.
For high-end watches, for example, you might want to go to Frank Muller or Reed’s Jewellery. Both allow you to pay directly in cryptocurrency.
For designer clothing, you could opt for Gucci, Ralph Lauren, or S.T. Dupont. All these also accept cryptocurrency payments, especially in flagship locations around the world.
Become a digital art NFT patron
NFTs have become increasingly valuable in recent years, and many people are buying them as investments. If you just love digital art, you could become a patron using your crypto to do so. Many digital artists are already using Ethereum and other cryptocurrencies because it’s native to the platforms they use. Physical art requires shipping, storage, and professional authentication, but NFTs remove all that. They’re verified by blockchain, so ownership and authenticity are mathematically guaranteed.
What’s more, NFTs often have game-inspired pixel art and/or 3D animations. These make them livelier than conventional static art. You can now buy screens so you can place them on your wall so that they display continuously.
So there you have it: some fun and unique ways to spend your cryptocurrencies, which will you try?
Thomas Miller is the founder and Editor-in-Chief of Seat42F, covering television, movies and streaming entertainment. He launched Seat42F in 2007 and has spent nearly two decades covering the entertainment industry.
