Can I Use Cryptocurrency to Pay for Home Improvements?

Juliet D'cruz

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Inner peace cannot be bought. When you wake up in your king size bed and sunlight fills your window, your whole day, your whole world in fact, is full of possibilities. At the end of the day, when you return from work and you close your door, you set your boundaries and you can truly rest. This is what a stable home life gives you and this stable home life needs to be maintained. That said, maintenance does cost money, and these days money comes in various forms. If you’re a crypto investor, you may wonder if you can pay for repairs to your HVAC system or your windows with the crypto you’ve amassed. Read on to learn how to go about using your crypto wallet to pay for various repairs.

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Your HVAC System

This may sound strange, but humans are perfectly capable of living without an HVAC system. What humans cannot do, however, is live without air. If you have an HVAC system, the quality of that air will be regulated by that system.

Germs, viruses, bacteria and mold spores and other microorganisms are a constant danger to the quality of your indoor air quality. You can decrease this danger by properly cleaning your vents, air filters, coils, and ducts and by installing UV lights in your HVAC system. UV lights are great for killing germs, viruses, bacteria and mold spores and other microorganisms and contaminants.

Installing a HVAC UV light in your HVAC unit can be expensive, as can installing other ultraviolet lights and UV lamps in your home, but the advantage of eliminating contaminants and pollutants can be worth it. You may be able to use cryptocurrencies to pay for these home improvements, providing a solution to this problem. Let’s look at how to use cryptocurrencies to fix your HVAC.

Crypto Payments

Visa is now accepting payments in Ethereum and Mastercard has its own Bitcoin card. PayPal allows its users to buy and sell large cap cryptocurrencies, such as Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. Despite the Great Crypto Crash of 2021, one might say that cryptocurrencies have arrived as a payment system.

You certainly have the option of using cryptocurrencies to pay for home improvements, and you can even do so from your mobile device. The question that needs to be asked is whether or not you should.

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Blockchain is a new technology that still has a lot of “bugs” in it. The Great Crypto Crash of 2021 started because Elon Musk publicly objected to the energy cost of mining Bitcoin and, as a result, Tesla refused to accept payment in Bitcoin. Ethereum has high “gas fees”, these being the price per Ethereum transaction. Ethereum 2.0 is supposed to have a solution to that problem, through the use of Aventus and other cryptocurrencies to lower the cost of Ethereum transactions, but the implementation of that solution may have been hampered by the crash.

On the other hand, digital currency is not going away and the need for better payment systems has been established, with blockchain technology is supplying the solutions. The COVID-19 pandemic has led to the digitalization of everything, including our payment systems. Successful entrepreneurs like Mark Cuban have said that the rise of digital currencies is inevitable, and he’s likely right. There may soon come a time when paying for your home improvements through digital assets like cryptocurrencies and non-fungible tokens (NFTs) will be cheaper, faster, more secure, and more convenient than using regular fiat currency.

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Storing Your Wealth

In a hyper-digitized age, hacking has become a real threat, as was sadly demonstrated by the Mt. Gox scandal. As governments scramble to regulate blockchain technology, the security of one’s digital assets should be a top priority. Data encryption, private keys, cold storage, QR code, updated password and pin code, and two-factor authentication are all useful, but the one should really be familiar with the various types of wallets and digital wallets that are out there. You can opt for a hardware wallet, software wallet, web wallet, desktop wallet, paper wallets, and more. Finding the best crypto wallet (such as a Trezor Model T or a Nano X) is a personal journey that one should be taking for the long term. It’s worthwhile to read up on the various crypto wallets out there to be sure that you’re making the best choice for your digital assets.