From luxury goods to travel, real estate, and insurance, there are hundreds of retailers that accept cryptocurrency as payment
Cryptocurrency has become an important tool for commercial transactions. Despite all the difficulties associated with the use of cryptocurrency as a payment method, this is already a reality, and more and more people are actively using it for business and personal needs.
However, this is just the beginning of how far the crypto revolution can go. The cryptocurrency market is still in its early days, and many people don’t know how to spend their crypto or what they could buy with it.
In this guide, we will explore what to buy with crypto in 2022. So, if you’re looking to start spending your crypto on purchasing goods — keep reading!
With the ever growing number of crypto holders and merchants accepting crypto payments, it’s logical to assume that sooner or later, crypto will compete with fiat currency. History proves this idea: today’s payment methods were still unthinkable 20 years ago.
There’s no doubt that more and more merchants around the world are starting to add cryptocurrency as one of their accepted forms of payment. In fact, according to research by Inc.com, one-third of small businesses in the USA accept crypto as a payment method.
Although this number is not as high in the UK — in 2021, less than 500 UK businesses accepted crypto as a form of payment — UK online merchants are starting to see the potential of crypto payments with more clarity and confidence.
Many consumers still don’t know what to buy with crypto, but they’re slowly starting to integrate cryptocurrency into their lives. According to CyberCrew, in 2021, a whopping amount of 9.8 million Brits owned cryptocurrency. Compared to 1.8 million in 2018, this number clearly shows a massive cryptocurrency boom.
Moreover, even whole countries are introducing Bitcoin into their payment system. For example, El Salvador has become the first country in the world to require businesses to accept Bitcoin as a form of payment.
The most popular use of cryptocurrency are investments. There are two ways to do this: you can either hold your coins or trade them on an exchange.
However, more and more people decide to spend their cryptocurrency to purchase goods. From luxury goods to travel, real estate, and insurance, there are hundreds of retailers that accept cryptocurrency as payment. If you don’t know what to buy with crypto, here are the most popular ways to spend your digital coins.
Luxury goods
One of the best ways to spend your crypto is to purchase luxury goods. If you’re looking for something high-end, such as a Gucci handbag, you’ll soon be able to pay for it in cryptocurrency. High-end watch brands, such as Balenciaga, Philippe Plain, Hublot, Rolex, or Patek Philippe, also accept crypto payments.
Apart from luxury clothing and accessories by world-renowned brands, you can also purchase high-end art pieces with your digital coins. For example, Banksy’s “Love is in the air” work of art was sold for $12.9 million using Bitcoin.
Luxury Cars
More and more luxury car dealerships are now offering their customers the possibility to pay for their new, shiny car with cryptocurrency. Luxury car dealerships are one of the few brick-and-mortar businesses that accept crypto payments. Some of the more high-end models include Lamborghini, Ferrari, and Rolls-Royce.
Travel
If you’re wondering what to buy with cryptocurrency, your next luxury vacation might be it. The travel industry had to adapt to the new methods of payment quickly. Nowadays, more and more airlines, hotels, travel agents, and booking sites accept crypto as a payment form.
You can book flights and hotels using cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), or Litecoin (LTC). These payments will be processed by companies such as Ariva Digital, Expedia, TravelbyBit, and CheapAir, which accept digital tokens as payment methods.
Moreover, even whole countries are introducing Bitcoin into their payment system. For example, El Salvador has become the first country in the world which made Bitcoin a legal tender.
With the ever-growing surge of cryptocurrencies, it’s hard to keep track of how each one is used. Some are more practical than others, and others have more uses outside their native ecosystems.
The top cryptos used to purchase goods right now are:
Bitcoin is the most well-known cryptocurrency and has been around since 2009. It’s still the most popular option for buying goods online, mainly because of its global reach and popularity.
Several other cryptocurrencies have their own uses and can be used to make purchases. Some of these include Monero, Cardano, Polkadot, and Dogecoin.
The rise of cryptocurrency has been met with skepticism, but it’s undeniable that it has changed the way we buy and sell goods. As more people adopt crypto-based transactions, it’s becoming easier to find merchants that accept cryptocurrencies.
Whether you’re a business owner looking to integrate crypto as a payment method, or a consumer looking to spend your digital coins, one thing is sure: GoCrypto is the smartest way to manage your crypto payments.
The fastest-growing crypto payment network offers a simple and fast integration for physical and online stores. Merchants can open up their business to over 40 million users worldwide. GoCrypto enables payments with three crypto wallets — Binance Pay, Bitcoin.com Wallet and Elly Wallet — supporting over 50 different cryptocurrencies combined. Merchants can completely avoid any crypto volatility risks by simply choosing to be settled in their local currency.
The payment network offers a fast settlement time, low and transparent fees, and continuous support with integration in 69 countries worldwide. In addition, users get access to a dashboard with analytics where they can understand their transaction status and see trends and patterns — so that they can stay in complete control of their purchases. GoCrypto is a global facilitator of crypto payments, that aims to make cryptocurrency payments more accessible for everyone by providing them with a simple way to accept and manage crypto on one single screen. Click here to learn more.
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