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Ask CryptoVantage: How Can I Incorporate Bitcoin into My Daily Life?

Bitcoin is a relatively new form of currency, which means that the ways in which it can be used in our day-to-day lives can seem limited compared to regular fiat currencies. This article will highlight some techniques that you can use to incorporate bitcoin into your daily routine, including methods for passively earning bitcoin, options for spending bitcoin, and a list of recommended topics and resources for continually learning about bitcoin.

Spending Bitcoin via smartphone

Earning Rewards

One of the simplest ways to incorporate bitcoin into your daily life involves registering for bitcoin rewards programs. These programs allow you to passively earn bitcoin while conducting regular day-to-day purchases.

Lolli is an extension that can be added to a variety of internet browsers. When you sign up for Lolli you will be provided with a Lolli wallet. As you make online purchases at one of their partner stores, your bitcoin rewards will automatically be added to your wallet. Lolli allows you to continue making your purchases in regular fiat currencies, while still receiving rewards in the form of bitcoin. If you do any amount of online shopping and are looking for ways to incorporate bitcoin into your daily life, browser extensions such as Lolli are a great way to earn extra bitcoin without even having to think about it. Lolli is currently but available to U.S. customers, but the company plans to expand internationally in the near future.

Fold is a mobile/web application that provides you with bitcoin cash-back when you make purchases with your debit or credit cards at one of their partner stores. If you want to spend bitcoin directly, Fold also allows you to either transfer bitcoin from your wallet into a digital gift card, or you can pay through the bitcoin Lightning Network to earn extra rewards. In addition to cash-back rewards in the form of bitcoin, the Fold app has daily games you can play to win bitcoin as well.

Note: At the time of writing this article, many of the browser extensions and web applications that allow you to passively earn bitcoin are focused on U.S. markets and retailers.

Spending Bitcoin

If you are looking to start spending bitcoin in place of regular fiat currencies, you have a few options. Many major companies are beginning to accept bitcoin, but note that the payments have to be sent through payment processors. Payment processors charge a small fee, usually as a percentage of each transaction, to convert the bitcoin to the retailer’s preferred currency. You can also use bitcoin to purchase gift cards via platforms such as Coincards, Bitrefill, and Fold (as mentioned above), which can be used for online or in-store purchases. Bitcoin is also sometimes a preferred method for charities to receive donations, so if you are interested in using your bitcoin to donate money, consider looking into which charities accept bitcoin directly.

A detailed summary of where you can spend bitcoin can be found in our article “Where to Spend Bitcoin”.

Learning More

Whether you got into bitcoin because you are interested in the concepts involved or because you want to make money, you may be looking for ways to keep up to date with the latest bitcoin developments, market trends, and news stories. There are a few ways you can do this, including signing up for newsletters and listening to podcasts.

To get started, we recommend listening to the weekly Rabbit Hole Recap episode of the Tales from the Crypt podcast, which provides a summary of happenings in the bitcoin world each week. If you are looking for more frequent updates, you can sign up to the Marty’s Bent daily newsletter, which provides the authors views on current events in bitcoin and other related areas such as privacy, human rights, and economics.

Summary

Although bitcoin is a relatively new form of currency, there has been a surge in the development of apps, extensions, and news sources that allow you to easily incorporate bitcoin into your daily life.

Depending on your reason for getting into bitcoin, you can choose to use bitcoin for day-to-day transactions, sign up for bitcoin rewards programs, or donate your bitcoin directly to charity. Additionally, you can opt to continually improve your understanding of bitcoin as a digital currency by keeping up to date with recent market trends and news stories.