Where and How to Spend Your Bitcoins

A lot of people in recent days have started to look into digital currency, but here is the question — where and how can you possibly spend your bitcoins and altcoins?

Cryptocurrencies are slowly but surely becoming a new trend, transforming into a mainstream phenomenon with growing acceptance. The number of stores that are getting on board with bitcoins is increasing (but still remains small), which includes traditional street side shops, modern ecommerce marketplaces and even B2B players that are making the fast paced switch. This is greatly attributed to the fact that more people are becoming educated about how cryptocurrencies work and also due to the convenience of swift payments with minimal or no transaction fees.

So how does this exactly work? With the use of advancing technology some merchants are utilizing and proposing to allow consumers to directly scan a price label (QR code) in their stores using a smartphone through a bitcoin wallet app and simply pressing the button “spend”. The transaction takes place immediately and within a few seconds the retailer gets its payment. Isn’t it beautiful? Of course, it is much easier online — just checkout and choose “Pay with Bitcoin” through your bitcoin wallet.

Let’s say you would like to book you next vacation with cryptocurrencies, Cheapair.com was one of the earliest online travel merchants to introduce a payment system via bitcoins (since 2013). Its sales of flights and hotels with bitcoins rise each year and bitcoin payments exceeded $15 mln monthly in 2017. Founder Jeff Klee says that the average spending for the bitcoin customer is higher than a non-bitcoin customer and that with bitcoin Cheapair tends to generate more sales in premium cabins like business class or first class (source: Quartz).

A few other companies accepting Bitcoins as payment are Expedia (another online travel booking company), Microsoft, Subway (fast food restaurant franchise), WordPress (world’s largest self-hosted blogging tool) and Dish (Indian satellite television and Internet service provider).

If you are still wondering, “what is a bitcoin?” just go to Wikipedia and if you are looking to make a donation to the free online encyclopedia, you can do it with crypto too.

Nevertheless, it is true, that a very few websites and shops where you would like to spend your virtual cash offer the possibility of cryptocurrency payment. Thus new bitcoin marketplaces come in handy. But many of them do not offer an appropriate level of security and correct functioning regarding transactions and settlements, this is due to the fact that projects are underinvested and ultimately lack further development.

Ubcoin market is one of the few that is backed up by the tech-giant Samsung. Its app is pre-installed in more than 16 mln smartphones worldwide, including the flagship Galaxy S9. The company says this relationship is set to continue and flourish when Ubcoin Market will be released in the nearest future, with the platform initially being made available to 2.5 mln active users. Felix Khachatryan, the CEO of Ubank (the headquarter of Ubcoin), said: “Our partnership with Samsung is a completely unique story. This kind of opportunity is not given to any other player — even the most prominent ones. That means a lot.” In June 2018 the company signed another big partnership — with LG.

Ubcoin market team wishes to harness the familiarity of marketplaces while removing the technical and legal hurdles associated with using and investing in cryptocurrencies. According to Ubcoin Market, their new platform is a compelling alternative to unregulated crypto exchanges, where a person’s capital can be in grave danger if the company is hacked. Recently its team told Cointelegraph: “Everything is legal and secure: the most thorough due diligence is executed by Ubcoin’s legal team, which has identified no direct discrepancies regarding violations of laws in the countries that regulate exchange of owned goods for digital tokens in the given target countries.”

Ubcoin Market promises to become the most convenient and widespread way to spend your crypto wealth (both bitcoins and altcoins). You can buy Ubcoin tokens with 9% discount now on https://ubcoin.io/en