XYO and Cryptospots: Finding Places to Spend your Cryptocurrency!

XYO and Cryptospots: Finding Places to Spend your Cryptocurrency!

Go to the profile of Jenn PerezJenn Perez

Feb 13

If you’re a person who owns cryptocurrency, this scenario probably plays like a broken record whenever you want to buy something:

Step 1: See something you want to purchase

Step 2: Wish you could buy it with crypto

Step 3: Find out shop does not take crypto

Step 4: Cry (okay, maybe not cry, but scowl a little bit)

Rinse and repeat, ad nauseam and all that jazz.

Right now, your option most of the time is just to cash out your crypto, and then use that money to buy whatever you need.

It’s an extra step and so, so unnecessary.

And if that’s not annoying enough, the huge companies that accept crypto make that fact known. But most of the time, they only accept Bitcoin.

And the worst part of all? There are plenty of businesses that take cryptocurrency beyond the few big-box retailers and their ecommerce sites, but it’s pretty difficult to find them.

At XYO, we hold a special place in our heart for companies that make life easier. Cryptospots, a decentralized Application (dApp) studio developing an interactive map, is one of those companies.

In the words of Matthew Detmer of Cryptospots, our newest partner, here’s part one of his plan:

“The ‘dApp’ is an interactive map of businesses that accept crypto, pairing retailers with customers in an incentivized ecosystem that rewards participants for shopping, socializing, and contributing. Users can use detailed search criteria to locate specific merchants, navigate to them, check-in, review, and upload information.”

With the decentralization of the app, merchants can add their businesses to the map instantly, as well as hold flash sales, pop-ups, and other special events.

XYO’s location data offers an extra layer of certainty to the listings. This way, when a customer verifies a listing, XYO location data is used to make certain that everything is on the up and up — and that the customer actually went to the location.

Listings warfare and sabotage is real. This partnership is designed to prevent that.

Matthew also has huge plans for the future, including bounties for customers who verify listings or complete certain actions. But for now, let’s stick to this slice of awesome:

Need to find a store to spend your crypto? Cryptospots will have you covered.

Welcome to the XYO family, Cryptospots!

Hayden P.

A blockchain and cryptocurrency enthusiast

You may also like...