Cryptocurrencies are a multi-trillion-dollar industry. For what is billed as the future of money, many struggle with spending it directly. At times, buying even simple things such as your favorite coffee can be difficult. But the good news is that as acceptance increases every day, stores and other establishments are now accepting crypto such as Bitcoin (BTC) and Ether (ETH).

Did you know? The first reported spending of crypto is by a Florida man, who spent 10,000 BTC ($40 at the time) to buy 2 pizzas in 2010.

Credit | TrezorWallet

If you are looking to spend your crypto, many stores accept digital assets. From groceries and other essentials to your daily dose of coffee, here is a list of stores that accept cryptocurrencies:

Walmart

Walmart is where you can spend your crypto with ease. Walmart’s sister concern, OnePay, is already letting Walmart shoppers pay at any of the 4,600 locations within the US. With the crypto option available to US residents, they can simply load their OnePay app with Bitcoin or Ether (or buy directly using their bank cards). Walmart has also expanded support to XRP.

These crypto can then be used to pay for groceries, home essentials, and practically anything shoppers buy from Walmart.

Whole Foods

If buying healthy food products free from artificial flavors and preservatives with crypto is your choice, you don’t have too far to go. Whole Foods has partnered with Spedn (powered by Flexa), and you can buy your favorite organic food using major cryptocurrencies.

The Spedn app supports a vast range of crypto, and app developers continue adding support for more, making it easier for buyers to use their preferred coin.

Spar

The Dutch food retail giant dabbled with Bitcoin’s Lightning network and other crypto payment services before settling on supporting around 100 different cryptocurrencies directly on its mobile app in Switzerland.

Swiss shoppers can pay with any of the supported cryptocurrencies by scanning a dedicated QR code at checkout.

Sheetz

Crypto is all about convenience, and when paired with a convenience store, the result is Sheetz. From fast food to fueling your car to getting your clothes washed, you can pay for all with your crypto across 750+ locations.

Similar to other stores discussed, Sheetz is also on the Flexa network. Simply make sure your Flexa app has sufficient crypto, select Sheetz within the app, and scan the QR code at the store’s checkout.

Stores’ crypto policy may differ according to location

With stores and brands going international, it can be a bit of a challenge to know if you can buy groceries with crypto in your location. For example, Carrefour accepts crypto payments in the Middle East, but not in Asia. Speaking of the Middle East, Dubai is one of the most crypto-friendly countries. So if you are there (or plan to visit it), you will find that many stores, both small and large, accept crypto payments.

Similarly, every European country has its own stores where you can buy your food and clothing using your digital assets. Lugano in Switzerland even has a dedicated website, where it maps out all locations, from coffee shops to convenience stores, that accept crypto.

Not near any of these stores or countries? The internet is your friend when it comes to finding local stores in your city that may accept cryptocurrencies. The list and type of establishment may vary, largely dependent on local demand and regulations. All it takes is a simple query on a search engine, or perhaps going to platforms like Reddit and Facebook and posting the question there.

Gift cards are a neat little trick

If you are still not able to locate a shop or a store to buy essentials with your crypto, there are other ways you can go about it. Many reputable websites accept Bitcoin, Ethereum, and other cryptocurrencies in exchange for different stores’ gift cards.

Bitrefill is one such, letting you even pay for anything like Uber Eats and even prepaid mobile top-ups. eGifter is another website where you can buy gift cards of different stores across Europe, Canada, and even the US.

For example, if you want to spend crypto on Amazon, visit a reputable crypto gift card provider’s website (you may need to create an account first). Choose Amazon from the available gift cards, select the card value in fiat, then pay using one of the supported cryptocurrencies by sending the required amount. Once the transaction is confirmed, the gift card code is delivered to you, usually by email.

You can redeem the gift card by logging in to your Amazon account and navigating to the Gift Card – Redeem a Gift Card option. Type in the gift card code, and the balance gets added to your account.

Crypto debit cards are the ultimate solution

Still struggling to find a store that accepts crypto, or no website offers gift cards that you can purchase with your coins? 

There is another solution that opens up every grocery store, convenience mart, and all supermarkets: a crypto-powered debit card.

Ordinarily, you will need to sell your cryptocurrency on an exchange for cash and then use it to purchase groceries or other items. A crypto card is just that, but instead of you converting your crypto into your local currency, the card provider does all the heavy lifting for you.

All you have to do is find a reputable card provider. Most major crypto exchanges already offer one, so you should check out your exchange to see if you qualify. Other dedicated crypto card services like Moonpay and RedotPay can come in handy if your crypto exchange doesn’t offer you a card.

The cards come with a dedicated app (in case of an exchange, it may have a dedicated wallet within its own app), which you have to preload with supported crypto. Powered by Visa or Mastercard, these can be swiped at any respective terminal, much like a traditional credit or debit card.

The card provider takes care of all the conversions. It deducts your crypto at the current exchange rate and simply pays the vendor in the local currency. You do not have to worry about the crypto-to-fiat conversions at all. Just do your groceries, run the card at the terminal, and head back home.

Things to consider when spending your crypto

There are several ways to spend your crypto, either using these directly in stores that accept it, through payment processors, gift cards, or crypto cards. No matter what method you opt for, there are a few points you should keep in mind.

Crypto volatility is inevitable

Cryptocurrencies are well known for their volatile nature. What crypto you have in your wallet in Dollar terms (or your local currency) may be less by the time you are done shopping and at the checkout. It could be the other way round, but that is the point: the price is always moving.

If you want to spend your crypto, make sure you have enough to cover the expected cost of your purchases, and then some more.

Stablecoins help avoid volatility

Stablecoins, assets that are pegged to a fiat, take the volatility out of the equation. Some examples are USDT and USDC, both of which are pegged to the US dollar. Many establishments accept these as their price remains equal to their dollar equivalent.

Make sure you use the right network

If you are sending the crypto directly from your wallet, make sure you are using the right blockchain network. For example, check if the store is accepting Bitcoin or Bitcoin Lightning. While both are essentially Bitcoin-based, Lightning is a layer built on top of the main Bitcoin network for faster and cheaper transactions.

Similarly, if you are using stablecoins, they run on several blockchain networks. Look for terms like ERC-20 (for coins running on the Ethereum network), TRC-20 (for the Tron network), and BEP-20 (for BNB Smart Chain).

While options like Flexa, crypto cards, or other payment processors handle the transfer or conversion, without you worrying about the network, you still have to load these with your crypto in the first place, taking us back to selecting the right network.

There is always a fee involved

Crypto transactions carry a fee. If sending crypto directly, there is a network fee that varies according to the network load and type. For payment processors and cards, these usually charge a fixed percentage of the total transaction.

When it comes to crypto cards, their standard fee may be a bit higher if you are going to spend your crypto in a currency not supported directly.

The taxman cometh

Depending on your jurisdiction, using crypto may trigger a taxable event. Many countries will consider your spending as a crypto sale, and you might be liable for capital gain tax. This tax is payable on the profit you made (the value of the exact amount you spent, minus what you paid when you bought the crypto in the first place).

This can become pretty complicated quickly if you do not keep a detailed record. It is best to check with your local tax expert first.

Cryptocurrencies are becoming easier to spend

As the global adoption of crypto increases, so do its use cases. Spending your digital assets on daily purchases like groceries is becoming the norm. Should you want to do it yourself, the increased acceptance is only making it easier for you.

Depending on your location, you may find stores that directly accept these, through apps, or you could take the crypto card route and not have to worry about acceptance at all.