How to use and spend Ethereum

How to use and spend Ethereum

Cryptocurrency is becoming more mainstream and there are now many places where you can spend your Ethereum. Find out what you can buy and where.
By: Harry Atkins
Harry Atkins
Harry joined us in 2019, drawing on more than a decade writing, editing and managing high-profile content for blue… read more.
Updated: Jan 20, 2022
0/5 Star rating
Beginner
3 min read

I. 4a – What is ether used for?

Ether has two main usage purposes: to use as ‘gas’ to fuel smart contracts, and for ordinary everyday use like a ‘regular’ currency.

‘Gas’ is simply a unit of ether that is necessary for the successful operation of a smart contract on the Ethereum blockchain. Just like a car needs fuel to run on the road, smart contracts need ‘gas’ to operate on the Ethereum blockchain.

However, ether is now mostly used for its latter purpose. To give examples, many Australians today pay their household bills using ether, you can gamble with ether in many online casinos and betting sites, buy furniture from Overstock, and send remittance payments using your ether. Ether is particularly suited to the latter of these because it can be transferred anywhere in the world instantly with no conversion fees.

If you’re interested in learning more about ether gambling, our ‘Gambling’ pages will take you through everything you need to know. What we’re going to do next is run you through how you can spend your ether in real shops, both online and offline.

II. 4b – Who accepts ether?

If you want to spend your ether, this is the most important question. Transactions with ether can only be completed with shops/individuals that accept it as a payment option and have a wallet address to receive ether. If this is the case, spending your ether usually involves the simple process of scanning a QR code generated by the shop’s wallet and inputting the amount of ether you wish to send.

If a shop or online platform accepts ether, it will be listed in their payment options. We’ll always keep you updated with new places that allow you to shop with your ether.

III. 4c – What about shops that don’t accept ether?

It’s reasonable to think that if a shop doesn’t accept ether, then you can’t pay with it. While it may seem like this would make spending your ether impossible, this is actually not the case.

Companies have created products to encourage the adoption of ether into existing payment schemes around the world, rather than just waiting for every shop to accept ether directly. Ether debit cards allow you to pay with your ether anywhere that accepts ‘regular’ card payments.

Ether debit cards are loaded with ether, but allow you to pay in shops that only accept card payments. This means that it’s possible to incorporate ether into your day-to-day life easily, and you can even start paying for monthly expenses such as a mobile phone contract from your ether debit card.

IV. 4d – Where can I go to learn more?

Congratulations! You have completed our crash-course on Ethereum. Further information on everything we have discussed here can be found across Invezz. If you have any questions to which you can’t find an answer, then we’re always available via live chat to handle any queries.


Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Harry Atkins
Financial Writer
Harry joined us in 2019, drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience in the… read more.

Course navigation

1. What is Ethereum
2. How ethereum works
3. How to buy and store ether
4. Ways ethereum can be used
a. How to use and spend Ethereum

Related courses

What is Bitcoin? Before getting involved in bitcoin it is important to understand it. This guide lays out the basics: what Bitcoin is and the different ways it can be used. Ultimately, we’re all here to learn, so don’t be afraid – get stuck in and we’ll help you. With…
What is Ethereum? Before investing in Ethereum, it’s important to understand it. That’s why we’ve made this plain-talking guide and created a list of where to go in order to help you buy Ethereum responsibly. This guide lays out the basics: what Ether is and the multiple ways it can…
What is Tron? Before investing in tron, it’s important to understand it. That’s why we’ve created this plain-speaking guide to inform you on whether tron is a sound investment choice. This guide lays out the basics: What Tron is and the various ways you can use it. Make better…