How To Buy Food With Bitcoin
Author: Elle Miller
Have you ever wondered how much the most expensive pizza ever was?
Well the most expensive pizza ever bought was from Papa John’s, and shockingly that same pizza if bought today would be worth about a whopping $192 million US dollars. Yep that’s right - two pizzas were bought in total and each pizza was worth $192 million US dollars each. That’s $384 million US dollars in total for the order.
This is s the story of Laszlo Hanyecz (a Florida resident), California student Jeremy Sturdivant (who was 19 at the time).... and 10,000 Bitcoin tokens. The story takes place back in May 2010, and in all fairness not many people could have imagined the great heights Bitcoin and cryptocurrency would go on to achieve.. So in 2010, Laszlo traded 10,000 Bitcoins for 2 large Papa John’s pizzas. Back then those 10,000 Bitcoins would have been worth around $41USD. Jeremy brokered the trade - receiving those 10,000 Bitcoins and arranging for the pizzas to be delivered to Laszlo.
That transaction between Laszlo and Jeremy would become the first physical purchase made with Bitcoin in history and it’s marked by the annual Bitcoin Pizza Day on May 22.
Ok, so Laszlo definitely lost out on his purchase but surely Jeremy kept the 10,000 bitcoins and is now rich? Nope, he spent the bitcoin on travel costs shortly after receiving them. He didn’t see Bitcoin as an investment back then.
….and in case you were wondering neither Laszlo nor Jeremy have any regrets about letting go of those Bitcoins - instead they are pretty honoured to have been part of a pretty significant moment in history
Today, we can hardly imagine owning 10,000 BTC, much less trading that amounts for some pizza but the exciting part is that there are now many ways you can buy food using Bitcoin and other cryptocurrencies.
1.Many companies are now accepting straight crypto payments
From big restaurant chains like Subway, Pizza Hut, and Starbucks to small niche shops like Bitcoin Coffee, the world is quickly moving towards alternative payment methods.
2.Exchange Bitcoin for cash
Some places cannot take straight cryptocurrencies so they require you to swap your crypto for fiat (cash) currency first. One day, we won’t even need to trade Bitcoin for fiat but until that day comes, there are many ways for you to sell your Bitcoin in exchange for fiat. Some easy ways are through an exchange like Binance, or use a crypto ATM (available in many big shopping centres or gas stations) and there are lots of cash apps you can use to do it..
Many online-based services allow crypto payments via gift cards. Basically, you use your crypto to load value onto a gift card (there are many services that offer this) and then you use that gift card to buy whatever you want. . From UberEats to Chipotlé - you can grab a gift card and in a few clicks, you can get munching on a meal you bought using Bitcoin.
4.Crypto debit and credit cards
The most seamless and easiest way to buy a Big Mac or a fine dining experience is through a crypto debit or credit card. It acts just like a standard card but is connected to your crypto wallet/s, allowing it to source funds directly from your cryptocurrency holdings.
Our CEO, Michael, spent his passive income crypto earnings, on his last trip to Europe. He used his debit and credit cards to pay for most things whilst overseas and he even treated his partner to a beautiful meal - all using crypto! Even he was surprised at how easy it was for him to use his earnings without having to do anything extra – the magic of passive income and a crypto card!
You can watch the full video on how he did it here and learn more about how to earn and spend crypto easily 👇