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You can't pay for groceries with crypto. The easiest way to transfer money people can actually use without a bank account is probably texting someone a prepaid
by easrng 5y ago
You can't pay for groceries with crypto. The easiest way to transfer money people can actually use without a bank account is probably texting someone a prepaid card number, though for low amounts the purchase fee is kind of a lot. Crypto is good for circumventing the legal system (ex. getting DIY HRT where it's not legal) but for most basic needs it's not very useful.
- Consultant32452 5y agoYou can't pay for groceries with crypto yet. The government is making adoption more difficult by doing things like classifying all crypto as assets, so every transaction by a legitimate business requires they have to do a ton of tax paperwork about it. Some countries use bitcoin as official currency, so this not universally the case. I don't know if adoption will increase, nor do I have a strong opinion on whether it should. But it does solve the specific, narrow problem of lack of basic banking for the poor.
- fidelramos 5y ago> You can't pay for groceries with crypto. Some people can pay for groceries with crypto, for example in Slovenia there is a supermarket chain that accepts Bitcoin Cash (BCH) [0]. map.bitcoin.com [1] displays local businesses that accept crypto. Then there is acceptbitcoin.cash [2] which lists online stores and services that accept Bitcoin Cash, Bitcoin and/or other cryptocurrencies. That is one of the main things I like about Bitcoin Cash: it focuses on user adoption as money and not as a store or value or speculation investment. Avoiding the exchange to fiat money is essential for P2P electronic cash like Bitcoin was meant to be. [0] https://www.youtube.com/watch?v=61kQ4-0a1p8 https://www.youtube.com/watch?v=61kQ4-0a1p8 [1] https://map.bitcoin.com/ https://map.bitcoin.com/ [2] https://acceptbitcoin.cash/ https://acceptbitcoin.cash/