How and Where Can You Use Cryptocurrencies to Buy and Sell Things?

Cryptocurrencies aren’t just for investing — you can pay for things and experiences, too.

Photo by Kanchanara on Unsplash

Once upon a time, things were paid for via barter. You made a trade of some sort — maybe a cow for building materials, a dozen chickens for other items, that sort of thing.

In time, this became impractical. How often could you take livestock or other items you needed a wagon or two to trade? Another way was needed, as humans diversified. Bakers that didn’t grow their own wheat couldn’t necessarily barter for it.

Thus, money was created.

Coins were where it all began, minted from precious metals like copper, bronze, silver, gold, and the like. Value was given to each in turn, and you paid with your coins for your goods and services. Item ‘X’ was worth ‘Y’ number of coins, item ‘Z’ was valued at a different amount, and so on.

Coins gave way to notes. The ubiquitous banknotes came into being as early as the 7th century in China. They would continue to evolve for another thousand years or so. By the 18th century, modern banknotes issued by a central bank became what we know as the bills in our wallets and purses today.