Bitcoin can buy you food? A tutorial to show you how you can too.

Bitcoin is a versatile financial asset that has the potential to function both as a commodity and currency. For example, the Securities and Exchange Commission (SEC) classified BTC as a commodity, whereas El Salvador made Bitcoin legal tender in 2021.

So, can BTC be classified as a store of value or a medium of exchange? It turns out that it can do both — On one hand, BTC could theoretically be added to treasuries to act as an inflationary hedge. However, on the other hand, it might also serve the more retail purpose of paying for routine expenses.

9 years ago, Laszlo Hanyecz made the first business transaction using Bitcoin – 10,000 BTC for two pizzas. Nowadays, you don’t need nearly that much BTC to buy food. The crypto community has realised that customers should only pay the amount for which the product is worth, not more or less.

Through this article, you will be exposed to various methods of purchasing food using Bitcoin. From crypto debit cards and gift cards to crypto food delivery portals, by the end, you should have a strong understanding of all the different avenues available for those looking to use cryptocurrency as a means of buying their next meal.

There are many ways to buy food using cryptocurrency.

Depending on the user’s needs and interests, there are a few ways to buy food with Bitcoin. These are the three most common uses of cryptocurrency for daily expenses:

Crypto cards

With a crypto card, customers can use their cryptocurrency to make payments, which are then converted to fiat currency at the merchant’s end. These cards work similarly to regular debit or credit cards.

It allows users to pay for their standard expenses via cryptocurrency, without having to go through the trouble of finding stores that accept crypto payments. Also, many crypto card companies offer mobile apps that make it simple for customers who want to spend Bitcoin wherever they are. 

Crypto gift cards

Customers may purchase gift cards for several food and delivery services using cryptocurrencies. They can then redeem said gift cards to pay for their meals in digital currencies.

Crypto gift cards allow customers to buy items from participating merchants using cryptocurrency. A number of companies offer different types of gift cards, making it easy for users to find one that suits their needs.

Crypto food delivery portals

Crypto food delivery platforms are becoming increasingly popular, as they offer a convenient way to order food and pay for it using cryptocurrency. These platforms are typically connected to many different restaurants and eateries in various locations, making it easy to find something that everyone will enjoy.

How to buy food using a crypto card?

Crypto cards permit Bitcoin exchange for goods and services in the physical world. However, to spend BTC through a crypto card for regular expenses like groceries, customers need to take specific steps:

• The first thing you need to do is set up a digital wallet and merchant account. Research the different crypto cards that are available on the market so that you can choose the one that best meets your needs and budget.
• Follow these steps to sign up: download the app and complete the Know Your Customer (KYC) requirements. After registering for the card and creating an account with the provider, you’ll be able to easily access your funds and make purchases online or in-store.
• You can set up a spending limit and schedule regular deposits into your account.

Although most crypto cards let users quickly convert cryptocurrency to cash, it can be tough to decide which card is right for you. Some customers might prefer cash-back rewards while others may care more about earning interest on their account balance.

Some cards are beneficial for everyday shoppers since they provide rewards for purchases made and also allow users to accrue interest on the cryptocurrency held in their account.

Furthermore, while accessing the utility of a crypto card, make sure to check for multi-coin support. The crypto card should ideally support several cryptocurrencies, such as BTC, Ether among others. 

There are a few companies that offer crypto credit cards, such as BlockFi and Gemini. However, there are many more companies that offer crypto debit cards, including Coinbase, Crypto.com, BlockCard, Binance Visa Card and BitPay.

How to buy food using a crypto gift card?

Customers can use crypto gift cards at any participating restaurant or retail store. They are easy to spend and provide a way for customers to spend their cryptocurrencies without hassle.

Bitcoin isn’t accepted by some of the bigger companies like Amazon and Walmart, but there are workarounds. You can use a crypto gift card service to essentially pay with Bitcoin. One website that offers this is Bitrefill where you can find gift cards, phone refills, and other services in over 1600 products spanning 170 countries.

How to use crypto food delivery portals?

Crypto food delivery portals work similarly to using crypto gift cards. With both, the user connects to a merchant that allows for crypto payments. After this, the steps are pretty much alike: choose a platform, sign up and load your wallet with some funds.

What’s more, customers can use a crypto-delivery portal to buy food in different ways. They can pay for their food with cryptocurrency, or they can purchase groceries on credit and then pay off those purchases with cryptocurrency. This makes crypto delivery portals convenient for making crypto payments.

Platforms such as Hungry? in the United Kingdom, Sprigz in the United States, BiteMyCoin in Australia and Eats24/7in Canada that enable users to order food directly from restaurants using cryptocurrency can be an alternative way of ordering your meal.

Should you buy food with crypto?

There is no firm answer as to whether or not users should use crypto payments to buy food. However, there are both pros and cons when it comes to using cryptocurrency for this purpose.

Some advantages of cryptocurrency transactions are that they’re usally quick and easy. Also, since crypto payments are recorded on the blockchain, it’s simple to trace the transaction history. In addition, direct connections between customer and merchant eliminating the need for a third party such as a bank.

On the other hand, crypto payments come with the risk of hacks and volatile prices which could make it difficult to use for everyday transactions. So users must educate themselves before using cryptocurrency as a way to exchange money for goods and services on a regular basis.