What Can You Buy With Ethereum?
Cryptocurrencies are slowly but surely taking over the world of finance. Nowadays, you can buy almost anything you want using your favorite crypto. Especially when it comes to the most popular ones, like Bitcoin (BTC), Tether (USDT), or Ether (ETH). Many businesses from all around the world have started including digital currencies in their payment options, and customers are using them to the fullest. Some countries are even thinking about creating their own cryptocurrencies to make it easier for people. So if you ever wondered what can you buy with Ethereum coins or how to spend Ethereum, this article is exactly what you need. Let’s dive in!
What is Ethereum and how does it work?
Although Ethereum is often considered to be a cryptocurrency, this is not completely correct. Ethereum is a decentralized blockchain that allows people to create their own assets, apps, as well as complete transactions without control from a third party. The digital currency used on the blockchain is called Ether (ETH). The creators of Ethereum were partially inspired by Bitcoin, but added some unique touches to it. Thanks to that, Ethereum is the second most popular crypto project in the world as of now.
In September of 2022, Ethereum has switched from Proof-of-Work (PoW) to Proof-of-Stake (PoS). It was an important step, as it helped to make the mining process more eco-friendly. Proof-of-Stake is more secure and considered to be better for scaling solutions.
As many people already know, the maximum volume of Bitcoins is 21 million, but when it comes to ETH, there are no limitations. The number of Ether in circulation is already 122 million and growing.
Ethereum is very popular among the developers, who prefer to incorporate it in finance, gaming, NFT, and many other areas. Just like with Bitcoin or USDT, you can already use ETH to pay for goods and services all around the world.
What can you buy with ETH?
To put it simply, almost all the things you can buy with other cryptocurrencies. Most countries in the world consider digital assets to be legal and businesses already started to accept them. Yes, there is still a long way to go, but you have got a lot of choices even now. Some countries are even working on launching their own cryptocurrencies for quicker and easier payments. So what can you buy with Ethereum coins?
It has been 12 years since Laszlo Hanyecz paid for pizza with BTC in 2010. It was an unusual thing then, but nowadays, anyone can pay with crypto in many restaurants, cafes, and shops. For example, Pizza Hut now offers gift cards you can buy for digital assets and use to pay for food in the chain. In some countries, the famous pizzeria offers even direct crypto payments. Same goes for KFC and McDonalds, who also give an opportunity to pay for their food with crypto in some countries. Same goes for many supermarkets, liquor stores, coffee shops, etc.
Some retail stores started accepting cryptocurrencies a few years ago. In 2022, their quantity has grown a lot. Even Amazon accepts crypto payments (although not directly).
Some car dealerships accept various crypto payments. Not all vehicle brands are already on board, yet they are starting to slowly but surely realize that digital assets are the future of finance.
Pay for real estate
This area is not as easy to incorporate in the world of cryptocurrencies as the other ones, but there is still progress. Such purchases are on the bigger side, which is why they can be more difficult to accept. However, in 2022, an apartment in Barga (Portugal) was sold for 3 BTC. A house in Florida (USA) was also sold the same year as an NFT.
Get movies, games, or apps
Microsoft already allows users to top up their balance in crypto. These funds can be used to pay for buying movies, Xbox games, or applications. Some apps on iOS and Android also have internal payments that can be done in crypto.
Pay for tickets and hotels
The travel industry has picked up the idea of cryptocurrency very fast. Lots of air carriers offer to pay for tickets in digital currencies. The list includes airBaltic, British Airways, Southwest, and Norwegian Air. Even Virgin Galactic, the company that sends tourists to space, accepts payments in crypto. Many hotels all over the world have noticed it as well, and are now accepting crypto payments.
Sometimes, people want to donate money, but can’t do that because of banks and bureaucracy. Thanks to cryptocurrencies, this problem is solved. For example, people from various countries have been helping Ukraine since the beginning of the full-scale war. This is possible due to charitable foundations like United24 that accept donations in crypto with the help of solutions like Whitepay.
What is Whitepay and how can you use it to pay for stuff?
Whitepay is a crypto POS solution tailored to give businesses an opportunity to accept cryptocurrency payments. With Whitepay, one can easily create a network of exchange offices of any size with remote control and keep track on transactions in real time. Moreover, businesses get the opportunity to pay and accept crypto payments, receive detailed financial reports and analytics. Plus, they will be able to withdraw funds in fiat currency of their choice.
Whitepay currently works in Ukraine, Turkey, and UAE, but is constantly developing and entering new markets. The supported cryptocurrencies include Bitcoin (BTC), Tether (USDT), and Ethereum (ETH).
Crypto POS terminals by Whitepay are very simple, secure, and quick. Accepting payments with them are just as easy as with regular POS terminals. It goes like this:
- First of all, a salesperson needs to pick “Crypto” on the terminal.
- After that, a client can choose the preferred digital currency and network.
- The salesperson then enters the price of the product in the currency of the store. For example, in USD. The payment will be accepted at the current crypto rate.
- The customer needs to agree to the terms and conditions of Whitepay and click “Pay” to continue. At this moment, the currency rate gets frozen for 120 seconds.
- After that, the customer has to scan the QR code on the screen and enter the information (address, sum and currency) into a crypto wallet. The customer than needs to complete the transaction.
When the payment is completed, the customer will receive a receipt with a QR code with the link to the transaction confirmation. If there was a mistake during the payment process, the client can send the missing amount in a separate transaction.
As you can see, the process of paying for goods and services in crypto is very easy when a unique crypto POS solution like Whitepay is used.
These days, the question “Where can I use Ethereum and other cryptocurrencies?” does not exist. It can be done almost anywhere, as businesses from all over the world start changing and adapting to the new crypto-friendly reality.
Do your own research to make an informed decision about the best way to pay for the stuff you want with cryptocurrency. Although it is a relatively new area, it gets more and more advanced every day. The list of things that you can buy with ETH is constantly growing, so everyone can find something for themselves.