Whether you have Bitcoin, Ethereum, Litecoin or even Dogecoin, spending cryptocurrencies is just as important as having them in the first place. We rounded up several local spots where you can spend your favorite crypto here in Birmingham.
What are Cryptocurrencies?
Unless you’ve been living under a rock for the past 12 years, you’ve probably heard the terms “Bitcoin” or “Cryptocurrency” before. But what is a Cryptocurrency? Essentially, a Cryptocurrency is a form of currency (usually a digital token or coin) that exists (almost) entirely in the virtual realm, on decentralized databases.
Some of the most popular cryptocurrencies include:
However, cryptocurrencies aren’t the only part of the “crypto” ecosystem on the internet. According to Derek Waltchack, a local expert on Bitcoin and other cryptos:
“The crypto ecosystem has become much more than just currencies. The term now connotes programable money, decentralized finace, distributed computing and non-fungable tokens (NFTs) among others. It seems that we’re currenty having the ‘Netscape Moment’ right now, with the implication that today you can buy the future Amazons & Googles for the next iteration of the internet.”
Derek Waltchack, Partner, Shannon Waltchack
Derek Waltchack is a co-author for the recently-published book, Thank God for Bitcoin: The Creation, Corruption and Redemption of Money.
How to use Cryptocurrencies in Birmingham
1. Find Crypto ATMs at Crestwood Tavern and more
Although cryptocurrencies are typically purchased, traded or “mined” online, it is possible to buy them with cash through Crypto ATMs. Just like a regular ATM, Crypto ATMs allow you to exchange cryptocurrencies by using cash, debit or credit cards.
Now, here’s a fun fact. The Crestwood Tavern & Grill is home to Alabama’s very first Crypto ATM! Click here to see a list of all Crypto ATMs in the Birmingham area.
2. Buy tickets to Euphonious
If you love live music and have a wallet full of cryptocurrencies, you’re in luck. Euphonious, a brand-new music festival held at the Birmingham Zoo, will be accepting any currency traded by Coinbase for their tickets. Email email@example.com for more information on paying with cryptocurrencies.
Euphonious kicks off on Friday, June 18th, and will featured local acts as well as nationally-renowned artists such as Moon Taxi, Drew & Ellie Holcomb and Blues Traveler. Click here to learn more about Euphonious.
3. Order from these 13 restaurants with cryptocurrencies
Through Menufy, you can use a variety of cryptocurrencies to purchase food from a number of local restaurants, including the recently-reopened Eagle’s Restaurant in North Birmingham. These 13 local restaurants accept Bitcoin and a variety of other cryptocurrencies: