One Day I Will Buy My Coffee With Steem
It's Monday Morning at Caribou Coffee, where I'm sipping on a still-hot medium roast coffee out of a white mug.
I paid about $2 in USD currency for the coffee. That's a good price, but you know what would make it better? If I paid with steem.
Paying With Cryptocurrency for Day-to-Day Life
This is the first month where I'm only earning income from cryptocurrency. It's mostly steem, with a few other things sprinkled in.
Spending money is much more limited than earning it right now. I can earn a variety of currencies for nearly any kind of work - but have to stick with USD for spending in the real world.
The first step to move on from this arrangement is that I'm going to get a shift card from Coinbase. Even though Coinbase gets a lot of criticism including from me it still seems like the easiest way for me to start using a bitcoin debit card.
What it Looks Like to Spend Cryptocurrency in the Future
I want to spend my money without constantly converting it into USD. One day I'd like to spend straight from steem or SBD wallets - I think that will be possible in 5 or less years, as companies like Shapeshift start offering their service to physical retailers.
Retailers could offer a wide range of cryptocurrency payments, and Shapeshift would convert all the altcoins to bitcoin. In 10-15 years, we'll move towards paying with portfolios of cryptocurrencies.
In the future, spending cryptocurrency will be as simple as using your favorite multi-coin wallet via a cell phone app. You'll go anywhere you want and pay with whichever altcoins you prefer in that moment.
Question
How do you spend your cryptocurrency?
I still convert via a European version of Coinbase. But I also am sure that in a few years it will be possible to pay for all your needs with Crypto... For now, we will have to settle with the conversion way! Good work, man!
Thanks pele!
I really hope the tenx card comes out next month as planned. They plan to add as many cryptocurrencies as they can so steem will be on there eventually. Hopefully sooner than ten years.
Dude TenX is an exciting concept! Hopefully it works out the way they say it will... the website has some pretty good details.
We were just talking about this.
My wife is heading to Steemfest. I'd love her to be spending crypto.
Do you think a shift card with coinbase is the most seamless way to do this?
I'm not big on coinbase either. I secure all my own funds.
But, on the other hand, I'm not opposed to using them for just a few weeks with only a little crypto.
How was the process getting that card set up?
I haven't set it up yet, but it sounds really good based on the FAQ post from 2016. Supposedly there are no fees to spend money through the Shift card.
Seems pretty low risk if you just load a few hundred bucks of bitcoin at a time... but I'll have a better idea when I order one! I'll let you know how it goes.
Well, come here to czech republic and you'd be able to buy most things without converting the crypto.
Heck, you might be able to even pay rent to me (@joewantsfreedom) in few months in Crypto. And it's surely way cheaper than US. There are many expats here already, too.
In worst case, you could even withdraw the local cash through crypto ATMs.
Though having a BTC debit card is quite all right solution right now.
Nice! Maybe Czech Republic will become a central hub for cryptocurrency enthusiasts going forward... I'll rent from you when it does.
Ok, you got a place anytime you want :) (even if just to crash for a bit).
Can we call it then...
...a mug of STEEMing coffee? ;)
Funnily enough I was really thinking about this yesterday too!! Really wanting to be able to use SBD or Steem directly rather than having to convert it twice first. I'm going to look into a bitcoin debit card as well since it eliminates one step at least.
Eliminating one step makes it twice as fast and easy! It'll be another year or two I think before we have a direct steem -> USD card.
I’m currently rebuilding my website, and one of the things I’m building into my ‘shop’is the capacity to accept cryptocurrency for payment for my products, workshops, 1:1 online sessions, etc.
Unfortunately I’m not sure Steem can be accepted with this app... but maybe one day!
😊🙏🏽☯️