As technology grows, some effective cryptocurrency changes are being witnessed, especially in the retail industry. Today, some retail stores offer crypto bicycle where people can pay using different cryptocurrencies, including bitcoin and Ethereum and earn in return. These cryptocurrencies are gaining wider recognition and acceptance as effective payment methods in most industries. Most people consider using bitcoin cryptocurrency because it has excellent stability and pretty high value. Most people compete to use bitcoin since it generates a lot of profit and saves money. Additionally, it’s also a more efficient and practical transaction tool. Typically, you won’t incur any extra transaction fees if you make any payments with bitcoin. This is the reason why most bike stores are accepting bitcoin payments.
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Crypto bicycle
This is a bike that earns people cryptocurrency as they cycle. Generally, most people don’t understand this concept where one can simply cycle to bag dollars’ worth of cryptocurrency. This concept was first introduced by a UK-based bike manufacturer known as 50cycles. They developed an e-bike known as Toba that can earn cryptocurrency when cycling. The Toba would generate LoyalCoin estimated at £20 per 1,000 miles the cyclist travels. After generating sufficient Toba coins, one can be able to trade them in other cryptocurrencies, including bitcoin, Litecoin, Zen, etc. Alternatively, one can redeem these coins in retail stores that accept cryptocurrency. Generally, a cyclist can easily monitor generated tokens using a smartphone application. Each turn of the bike’s wheel earns some tokens.
According to Scott Snaith, the founder of 50cycles, technological advancement is likely to make cyclists earn from the cryptocurrency of their choice directly. However, the only problem that may arise in this case is game cheats, such as improvising ways to keep the wheels revolving continuously. This means that for people to avoid exploiting the system, security measures must be in place. The lowest price for these crypto bikes is $2,000, although most of them come at great discounts. Toba e-bikes come with seven speeds, racks, lights, and mudguards. The manufacturer sells both online and in physical stores. After Scott Snaith’s concept was seen to be viable, the US professional cycling team gained a lot of interest leading to the launch of their own cryptocurrency known as WattCoin, which can be traded with the known cryptocurrencies.
How to buy a bike with crypto?
If you need an entry-level or professional crypto bike, you don’t need to get financing, use your savings, or charge your credit card since there are many stores that accept bitcoin payment. Typically, it’s pretty harder to obtain some cryptocurrencies compared to others. Bike crypto is one such hard to get cryptocurrency. This is a result of its unavailability on the Coinbase Wallet or Coinbase app. However, this doesn’t mean that you can’t buy it. Below are steps on how to buy a bike with crypto:
1. Visit CoinMarketCap
The first to buy a bike with crypto is to check CoinMarketCap to find out the best places to purchase a bike with crypto and the accepted currencies. CoinMarketCap gives market pairs (buying options) for each cryptocurrency. All you need to do is to get into the site and search for the available crypto bikes together with their price charts. You’ll get a better view of the best places to buy crypto bikes and the accepted currencies for obtaining them.
2. Select the best platform
Before you create an account with any platform where you want to buy a bike with crypto, ensure you perform thorough research to ascertain liquidity, security, and reliability levels. This way, you’ll avoid platforms with certain risks that can lead to losses.
3. Make your purchase
It’s essential to note that different platforms work differently and have varied features and usability. It’s easier to buy a crypto bike with currencies like the dollar compared to others. Generally, if you’re willing to buy a crypto bike using other cryptocurrencies, you’ll have to follow a long process that involves creating crypto wallets to support your purchase. You’ll then be required to purchase the right currency to use and make your final payment. You’ll get help from the various platform guides if you face any difficulties. Alternatively, you can find support from other places like YouTube.
How to get a crypto when you ride a bike?
Riding a bike helps you stay fit and is an excellent opportunity to earn money today. One of the best-known platforms where people can earn from riding a bike is known as oBike. You can earn cryptocurrencies known as oCoin when you cycle your bike. oCoin was launched due to the partnership between Tron and oBike back in 2017. Every time an individual uses oBike, they earn cryptocurrency called oCoins that are topped up to their wallets. Generally, the longer a user rides a bike, the higher the number of coins received. You can use the coins for various purposes, including purchasing applications and online content from various platforms like the app Uplive and content community Peiwo.
Where can you buy bikes with bitcoin?
There are many shops where you can buy a bike with bitcoin as follows:
a. The Vault Bicycle shop
This is among the leading shops where you can get finished bicycles and spare parts. The shop accepts bitcoin payments from all its customers. The entire staff employed in the shop are United Bicycle Institute graduates.
b. Mellow Jjonnys
Mellow Jjonnys is a great bicycle shop where you can purchase bikes and sportswear. The shop allows its customers to use bitcoin payments. They also sell cycling clothing, spare parts and perform crypto bicycle repairs at discounted prices.
c. Sole Bicycles
The shop is based in Los Angeles and specializes in single speed, bike racks, fixed gear, city bikes, among other accessories. The shop allows bitcoin payments and also sells sports equipment.
d. Midas Bikes
You can get high-quality refurbished road bikes and spare parts from the Midas Bikes shop. The store accepts bitcoin payments and gives out discounts to the general public from time to time.
In conclusion, these are some places to buy bikes with bitcoin. Others are eBike Deals and urban velocity. If you’re interested in making extra money, find a crypto bicycle, and you’ll be ready to go.