Like many, you might have invested in Ethereum, hoping for gains. After all, it is the second-largest cryptocurrency by market capitalization and adoption. But did you know it’s more than just an investment?
Beyond checking price movements, you might also ask yourself: What can I buy with Ethereum, and who accepts it?
The short answer is a lot, and the list is growing. As a holder of Ethereum, you can buy various goods and services, acquire non-fungible tokens (NFTs), participate in decentralized finance, make charitable donations, and more.
This article will guide you through the nine things you can buy with Ethereum. Keep reading to discover more.
Key takeaways
- You can use Ethereum to buy various things, from physical products to digital assets like NFTs.
- Ethereum’s adoption is growing, with an increasing number of retailers and companies from various industries starting to accept it as a legitimate payment method.
- Ethereum isn’t just for holding or trading; it also supports decentralized finance, NFT transactions, charitable donations, and peer-to-peer payments.
1. Ethereum-based tokens and coins
Explore the exciting world of cryptocurrencies with Ethereum! Dive into a diverse selection of coins and tokens used for governance, staking, or accessing platform features. Investors and traders often use Ethereum-based tokens to diversify their cryptocurrency portfolios. Each token has a unique use case, market, and growth potential.
The creators of these tokens designed them to adhere to a universal standard., simplifying the process of trading and exchange. Notable ERC-20 tokens such as Tether (USDT), Chainlink (LINK), and Basic Attention Token (BAT) offer exciting opportunities for investment and innovation.
2. Swaps, NFTs, and digital collectibles
Ethereum opens up a world of digital transactions and ownership. Users can trade cryptocurrencies, purchase unique digital art, and acquire virtual items for games and more.
- Swapping for other cryptocurrencies: Ethereum’s flexibility allows users to swap it for other digital currencies. Swapping will enable investors to diversify their crypto holdings and access different blockchain networks and features. Popular swap options include stablecoins, governance tokens, and other major cryptocurrencies.
- Buying NFTs: NFTs(non-fungible tokens) represent ownership of unique digital items. People mainly use Ethereum to buy and sell NFTs. NFTs and popular NFT marketplaces like OpenSea and Mintable accept Ethereum as payment. For instance, digital artist Beeple sold his NFT art piece for $69 million on an Ethereum-based marketplace, making headlines globally.
- Digital collectibles and in-game items: Ethereum fuels the exciting world of digital and in-game items! These virtual goods add fun and value to online experiences. Collectibles might include fan tokens, digital trading cards, or limited-edition virtual figurines. In-game items bought with Ethereum have real-world value. Players can own, trade, and sell virtual swords, skins, or character upgrades. NFTs and digital collectibles often overlap.
3. Physical goods
You can use Ethereum to purchase a wide range of physical products. Many online retailers now accept ETH to receive payments for tangible items., opening up new shopping options for cryptocurrency holders to buy:
- Electronics and gadgets: Tech-savvy consumers can buy phones, computers, and accessories using Ethereum. For example, Newegg, a major electronics retailer, takes ETH payments through Bitpay. Shoppers can get laptops, tablets, desktop PCs, and more. Some specialty stores also sell cryptocurrency mining equipment for ETH.
- Fashion and apparel: Fashion-forward ETH holders have options to update their wardrobes. Some luxury clothing retailers, such as Gucci, now accept select cryptocurrency payments, including Ethereum. Another option is Bitdials, which accepts Ethereum as payment for luxury watches. They offer brands such as Rolex and Patek Philippe.
- Home improvement: Big online stores are starting to accept Ethereum, too. Overstock was one of the first major retailers to support ETH payments. They sell furniture, home goods, and clothes.
4. Digital goods and services
Ethereum gives digital shopping a whole new vibe. It’s also perfect for privacy—no credit card currency conversions, just smooth payments. Users can buy various online products and services using ETH as payment.
- E-books and online courses: Many platforms now accept Ethereum for e-books and online courses. Readers can buy digital books from indie authors and small publishers using ETH. Some e-learning platforms, such as Bitdegree, allow students to pay for classes with Ethereum.
- Software and digital subscriptions: Software companies are increasingly adopting Ethereum for their products, including antivirus programs, design tools, and productivity apps; for example, NordVPN accepts Ethereum for its subscription plans, providing users with a more private payment option.
- Streaming services and digital content: Several platforms allow ETH payments for movies, music, and shows. The Theta Network, a decentralized video streaming platform, uses Ethereum-based THETA tokens for transactions, enabling viewers to pay for premium content. Sling TV also accepts payments through ETH.
5. Gift cards and vouchers
Ethereum can purchase various gift cards and vouchers from popular brands, opening up many spending options for cryptocurrency holders.
- Retail gift cards: Online platforms like Bitrefill, eGifter, and Coinsbee allow customers to purchase gift cards using Ethereum for use in major retailers such as Amazon, Best Buy, and Walmart, as well as at clothing stores, electronics shops, and more.
- Restaurant and food delivery vouchers: Ethereum holders can treat themselves or others to meals using cryptocurrency. Many food and restaurant gift cards are available for purchase with ETH. Options include popular fast-food chains, casual dining spots, and upscale restaurants. Grubhub and DoorDash often offer gift card options for food delivery services.
6. Travel and accommodation
Are you dreaming of your next vacation? You can use Ethereum to book flights, hotels, and more for your next trip, paying for travel expenses and accommodations worldwide.
- Flights and hotels: For instance, Travala.com, a leading crypto-friendly travel platform, lets you use Ethereum to book flights, hotels, and even car rentals.
- Car rentals and transportation: Car rental companies like dsluxury now accept cryptocurrencies like Ethereum as payment. You can book vehicles in different countries using ETH, making getting around at your destination easier without exchanging currency. Ride-sharing apps in certain areas have started accepting crypto payments.
7. Real estate
Ethereum opens new ways to buy, sell, and invest in real estate. The blockchain technology behind ETH allows for more efficient and accessible property transactions.
- Buying property with Ethereum: Some real estate companies, such as RealOpen, accept Ethereum as payment for property, such as land and houses. Moreover, real estate tokenization on the Ethereum blockchain is gaining traction. It lets investors buy fractional shares of properties, making real estate investing more affordable and liquid.
- Renting and leasing: Ethereum intelligent contracts enable automated rental agreements. Tenants can pay rent in ETH through applications such as Livly, cutting out intermediaries and reducing fees.
8. Charitable donations
Ethereum allows individuals to make cryptocurrency donations to support causes they care about. With crypto donations exceeding $2 billion, Ethereum provides a quick and efficient method to contribute to charitable organizations and fundraising campaigns worldwide.
Many nonprofits now accept Ethereum donations. Organizations like Save the Children have established systems to receive ETH gifts. Like cash donations, donations made in Ethereum can be tax-deductible.
9. Payment for professional services
Here are some examples of how people use Ethereum to pay for professional services
- Freelance services: Do you need a freelancer who accepts Ethereum? Many freelancers now accept payment via crypto, which is transparent, faster, and more secure than traditional methods.
- Consulting services: Businesses can hire consultants to provide expert advice or guidance. Ethereum can be used to pay for these services, streamlining the payment process and reducing transaction fees compared to traditional methods.
- Legal services: More lawyers and legal firms now accept Ethereum as payment for their services to reduce the costs and complexities of cross-border payments.
Learn more: Practical Uses of Cryptocurrency in Everyday Life
Where to buy Ethereum
So now that you’ve learned what you can do with ETH, how do you get it in the first place? Well, you can buy Ethereum on many cryptocurrency exchanges. These online platforms let people trade digital currencies like Ethereum for other cryptos or regular money. If you want a more personalized approach without intermediaries, Paxful is an excellent choice. Here are step-by-step instructions on how to buy ETH on Paxful.
- Create a Paxful account in seconds using your phone number or email address. Verifying your account adds an extra layer of security. You’ll also be able to store your crypto on Paxful, and you can access Paxful on the web, iOS, or Android.
- Navigate to the Buy Ethereum page. Once your account is set up and verified, click the “Buy Ethereum” from the Paxful main menu.
- Choose a seller: Browse through the list of ETH sellers. Before proceeding, we recommend reviewing the vendor’s terms and reputation.
- Initiate a trade: Select a reliable seller and initiate a trade by entering the amount of Ethereum you want to purchase and clicking on the “Buy” button.
- Complete the trade: Follow the seller’s instructions. This typically involves sending payment via their preferred methods, such as bank transfer, PayPal, or others offered (Paxful supports over 450 methods).
- Receive ETH in your account: Once you complete the trade and confirm the payment, Paxful will release the seller’s ETH (temporarily held in escrow) to your account.
- Transfer ETH to a secure wallet: For added security, consider transferring the purchased Ethereum to a safe cryptocurrency wallet you control, such as a hardware or software wallet with private critical ownership.
Learn more: Beginners guide on how to use Paxful
Bottom line
Ethereum has opened up a world of purchasing possibilities. ETH holders can now buy various products and services, from everyday items to luxury goods. As the Ethereum ecosystem continues to evolve, so will its real-world applications. The list of things you can buy with ETH will expand in the coming years.
But always remember, when making purchases with ETH, it’s essential to research vendors and use reputable platforms. Security should always be a top priority in cryptocurrency transactions.
Important Note: Paxful does not provide investment, tax, or legal advice, and you are solely responsible for determining whether any financial transaction strategy or related transaction is appropriate for you based on your personal investment objectives, economic circumstances, and risk tolerance. Paxful may provide information including but not limited to blog posts, articles, podcasts, tutorials, and videos. The information contained therein does not constitute investment advice, financial advice, trading advice, or any other advice, and you should not treat any of the content as such. Paxful does not recommend that any digital asset should be bought, earned, sold, lent out, or held by you, and will not be held responsible for the decisions you make to buy, sell, trade, lend, or hold digital assets based on the information provided by us.
