What Can You Buy With Ethereum?

When you start to look beyond the tasks to buy and sell ethereum, you can be said to be looking at and seeing the potential of cryptos for what it is. Thanks to many people thinking along those lines, the array of things that can be bought with Ethereum is incredibly varied. Now that so many companies are accepting Ethereum, you can pretty much spend Ethereum anywhere you like. Bitpay partners with hundreds of companies, so you can pay using Ethereum.

Once you fund your account, you can use that money to buy Ether, which is priced in current Ether, alongside other assets. With a verified account and the money deposited in this account, you can start buying Ethereum and other cryptos through an exchange. To buy Ethereum, you will need to deposit USD or another supported fiat currency in the fiat account of the exchange, or connect a credit card to that account. This is why you will want your own wallet to send Ethereum after buying from the exchange.

If you are buying Ethereum on an exchange, using the wallet on the same platform is the easiest option, but there are pros and cons to that approach. In addition to buying Ethereum directly, you might try investing in companies building apps using the Ethereum network. If you are only interested in buying more common coins such as Ether and Bitcoin, you can also use online brokerages such as Robinhood or SoFi. Some major companies you can use to buy using Ether (ETH) include Overstock, Gipsybee, and Shopify.

While some let you pay for services and products using Ether tokens, others provide an opportunity for you to earn income passively. Assuming that you are not a developer looking to power a project on Ethereums blockchain, you, or any investor with an ETH stake, could be using an ETH token just as you would any other asset. As we noted before, you cannot only purchase products and services, you can also use your ETH coins to book a trip, or even start up other investments such as interest accounts and NFTs. With Bitcoin, you can store value and pay for things, whereas with Ethereum, you can program smart contracts, tokenize assets, and much more.

In addition to being used as a digital currency, Ethereum can be used to handle other types of financial transactions, run smart contracts, and store data for third-party applications, which is why t’s wise to monitor the ethereum projected growth closely. While it is possible to buy and exchange Ethereum like you would bitcoin, Ethereum is also a software platform that developers can use to build new applications — typically those that are cryptocurrency-related, or otherwise designed to make buying, selling, and using cryptocurrencies a more seamless experience. When people mention that they are buying Ethereum, they are really buying Ether, or ETH, a tradable token designed to power the Ethereum Blockchain ecosystem, though it can also be used similarly to a traditional currency (both crypto and fiat). Cryptocurrencies are not the only digital assets you can create on Ethereum: NFTs, or Non-fungible Tokens, have recently been an additional example of something created using Ethereum.