Cryptocurrencies are intended to be used for online transactions. As it increased its popularity, consumers are also looking for another payment method where they can use their crypto wallets. Businesses are starting to adapt to the use of crypto to enable receiving payments from other channels.
Cryptocurrency owners need to use a wallet to transfer funds or make payments using crypto. There are a lot of wallets that can be used, but only selected ones allow users to do these kinds of transactions.
Before, only digital companies accepted crypto payments. As contactless payment methods emerged, many merchants started accepting these as payments.
Unsure where you can use your cryptocurrency for payments? Here are some examples of where you can use cryptocurrencies as payments.
Crypto Casino Platforms
As the name implies, these online casinos have incorporated blockchain technology into their platforms. Today, the best crypto casino accepts deposits in the form of cryptocurrency. Withdrawals are also made in this form.
Depositing funds and withdrawal of winnings are similarly made from a traditional online casino. However, crypto casinos offer a house edge as low as 1%. Fees are also minimal compared to a traditional casino.
Tech giants, such as Google, announced they would start accepting cryptocurrencies as payment for their cloud services. The processing of payments will be done through an integration with Coinbase.
The tech company started to add crypto features and services to the company just recently. Aside from Coinbase’s crypto exchange service, it will also use Coinbase Prime for custody services.
Online Payment System
Cryptocurrency owners can also use their digital assets when using financial technologies. Online payment systems like PayPal now accept Bitcoin, Bitcoin Cash, Etherium, and Litecoin as funds for sending payments and fund transfers. Establishments that accept payments through PayPal can also accept crypto payments.
As long as you have an available balance in your PayPal account, you can also buy cryptocurrency from this payment platform. However, this service is limited to U.S. PayPal only.
Hotels and Flights
Hotel and flight booking websites have also started accepting crypto payments. Travala.com, an online travel company, accepts ADA, ETH, and DOGE payments for hotel bookings. Its customers can also pay through exchanges such as Binance Pay and Crypto.com Pay. The travel website also has its cryptocurrency, AVA.
Goods and Services
Many merchants from different industries have started incorporating cryptocurrencies as forms of payment. You can get a caffeine fix from Starbucks by paying with Bitcoin. You may also buy goods from Shopify stores.
AT&T also accepts crypto payments from 2019. It was the first communications provider to accept crypto as payment from their subscribers. AT&T uses BitPay as its third-party payment processor. When paying with Bitcoin, subscribers can select BitPay as their chosen payment option.