Ethereum is considered one of the most successful altcoins so far. When it comes to payments, the time taken to confirm an Ethereum payment is far less than a Bitcoin payment. A Bitcoin payment approval takes 10 minutes on average, whereas it takes much shorter to pay with Ethereum. Despite being more convenient, one severe issue that Ethereum faces to date is finding enough number of places that accept Ethereum payments. Earning more brand recognition and solving some of the scalability issues would definitely make Ethereum more popular as a crypto payment option in the days to come.
However, since 2017, Ethereum has been speeding up on gaining traction in the market as a medium of crypto payments. The list of stores that accept Ethereum is increasing with each passing day. A lot of Ethereum payment gateways have also come into the scene of late. Here, in this article, we will provide a holistic overview of how to use Ethereum by pointing out the Ethereum payment channels and listing out some of the sellers that accept Ethereum payments. We will also discuss vital functional details pertaining to how to accept Ethereum on this website.
Who Accepts Ethereum as Payment Today?
For Ethereum holders eager to know where can I pay with Ethereum, here is a list of popular sites that will prove useful:
- One of the largest Swiss online retailers Digitec Galaxy accepts Ethereum payments.
- UK’s largest independent marketplace Flubit accepts Ethereum
- Zorket, an international marketplace that offers retail fashion products such as apparel, bags, shoes, and accessories accepts Ethereum.
- CheapAir.com is a flight ticket aggregator that had already accepted more than US$5 million worth of Bitcoins before it started accepting Ethereum.
- Tripio is a company similar to Airbnb that allows homeowners to rent their properties and earn cryptos in return.
- GamerAll is a marketplace that sells characters, weapons, and skins for most of the popular games, such as DOTA 2 and Rust in exchange for crypto.
- Bitcoin Grotto is a brick and mortar store in the UK that accepts cryptocurrency. In exchange for coins such as ETH, BTC, and LTC, customers can buy smartphones, gaming consoles, TV sets, etc from this store.
- A well-known pet supplies retailer CryptoPet accepts Ethereum payments.
- PizzaForCoins, a pizza shop that sells its pizzas exclusively in exchange for cryptocurrency accepts ETH.
- The widely popular VPS hosting service Snel.com accepts Ethereum payments.
- Blockchain coffee is a gourmet coffee sold specifically to ETH enthusiasts. Anyone can pay with ETH for a blend of this coffee.
- Overstock, a popular interior design company that deals with home improvement and offers goods such as furniture, electronics, jewelry, and materials for décor accepts Ethereum payments.
- Tapjets, one of the biggest private jet booking platforms in Crypto in the US accepts Ethereum.
- The popular Scandinavian web-hosting platform FlokiNET accepts Ethereum.
- The popular eCommerce store in Amsterdam Peddler.com accepts Ethereum payments.
- Popular online retailer gift cards eGifter accepts Ethereum.
- Amagi Metals is a place where one can buy gold and silver with Ethereum.
- BitGild is another retailer focused on selling precious metals that accept Ethereum.
- 1000EcoFarms, a store to purchase farm-fresh products, accepts Ethereum.
- The Hungarian travel agency MoreStampsGlobal accepts Ethereum.
There are several other stores and retailers that have provisions for an Ethereum payment. The above list only shows some of the better-known brands.
Does Amazon Accept Ethereum?
Being the largest eCommerce retailer, people are often curious to know whether Amazon accepts Ethereum payments. Well, the answer is that they do. With the help of the Lightning Network browser extension, people can make purchases from Amazon using Ethereum.
The service that makes the transaction possible leverages the services of the Lightning Network to convert crypto to fiat without charging any extra fees. For now, the service is only available in the United States. Amazon also allows buying gift-cards using Ethereum.
Ethereum Payment Method
To accept payments in Ethereum, a store needs to integrate an Ethereum payment gateway. The process is easy and convenient for the sellers. What these payment gateways do
is that they automate Ethereum and other cryptocurrency payments while speeding up the transaction and eliminating the need for intermediaries. These payment gateways offer highly encrypted, secure payments at a much cheaper cost compared to traditional payment gateways.
The development of these payment gateways is based on the building blocks of smart contracts. Contracts that are used for processing and verifying peer-to-peer transactions. Smart contract-based payments offer increased transparency and enhance the level of security. It makes these payments less vulnerable to cyber hacks and attacks. If a seller does not want to go with a payment gateway, they can post their ETH wallet address on the website.
Payments Through Credit Card
There are intermediate services that help make ETH payments via VISA cards. The users only need to connect their ETH wallets to the payment card. These intermediary services then exchange the ETH in the wallet for traditional fiat currency such as US dollars. These intermediaries charge a commission of nearly 2% for making such conversions.
In terms of market capitalization, Ethereum is the second-largest cryptocurrency. With a market cap nearing US$53 billion, the only cryptocurrency that has a larger spread than Ethereum in the market is Bitcoin. With such a high volume of market cap, it is quite expected that Ethereum will soon become as popular as bitcoin as a medium of payment and peer-to-peer exchange. With growing availability, more and more merchants will set up Ethereum payment gateways to accept ETH.
Why use NOWPayments.io?
NOWPayments is the easiest way to accept online payments in a wide variety of cryptocurrencies. This service is custody-free, has competitive fees and is available worldwide.
- Over 50 cryptocurrencies are accepted on the platform with an in-built exchange feature;
- API, widgets, plugins and a donation button are all easy to integrate;
- It is a non-custodial service ensuring the security of your funds;
- A very simple setup