What Can Be Bought With Ethereum In 2022

Crypto adoption keeps growing every day. Governments, financial institutions, and retail investors are finally accepting the potential crypto has and jumping the train. The market has grown exponentially and who knows what heights will be achieved once the economic downturn and Crypto Winter is over.

Since the beginning Bitcoin has been crowned the crypto King. However, Ethereum, the main contender, has been growing in popularity. Some crypto enthusiasts even claim that Ethereum is set to overtake Bitcoin in the years to come. The project brings DeFi to the masses, with innovation in the smart contract space that makes crypto services easy and efficient to use. 

However, how popular is Ethereum in the real economy? Today we will be exploring the rise in popularity of ETH and find out, where you can use it in everyday life. Let’s get right to it. 

The popularity of Ethereum

Ethereum brings smart contracts to the table and is at the forefront of the DeFi revolution. The project is one of the first to popularize smart contracts, allowing users to provide services all via the blockchain.

These services work peer-to-peer, not needing a middle man due to the decentralized nature of the blockchain. Ethereum’s potential is huge as it's setting out to lead the groundbreaking DeFi innovation. Many are noticing and the popularity of Ethereum keeps growing as more addresses join the network.

Furthermore, Ethereum 2.0 is the next step in the right direction. The update transitions the blockchain from Proof-of-Work to Proof-of-Stake solving some common issues often mentioned with Ethereum, such as the high gas fees. By doing so Ethereum makes itself more attractive to the average consumer making the coin more likely to be used in the everyday economy.   

As the Ethereum network improves on its downfalls the popularity of Ethereum can only keep growing. Use cases will be developed and more merchants could start accepting Ethereum in their businesses. 

What makes Ethereum a currency?

The opponents of crypto will often claim that crypto isn't real money, but only a speculative investment. However, from the objective point of view, they are wrong. Ethereum can be considered a currency because it is a store of value and a medium unit of exchange. 

Firstly, it can be called a store of value as the asset is expected to maintain or increase in value in the future. Ethereum may be volatile in price now, however as innovation grows demand is expected to increase perpetually, making it good to go in the long term. 

The primary purpose of money is to be a medium to exchange goods and services between parties. To do this effectively the unit of exchange has to be divisible, fungible, and countable. For a currency to be divisible it has to be divisible in smaller parts, which of course Ethereum is. In fact, cryptocurrency has the advantage to be divisible in infinite smaller pieces, unlike fiat. 

Furthermore, fungibility is when a unit is equal to another unit. 1 dollar is always going to equal 1 dollar and the same is true for 1 ETH always equaling 1 ETH.

On top of satisfying all the criteria of money, Ethereum also offers other advantages. For starters, thanks to the blockchain ETH can be sent with ease anywhere in the world. Sending ETH is a lot quicker than a regular bank transfer as no intermediaries are necessary for the transaction. Furthermore, ETH is also a long-term investment that might be expected to rise in price exponentially over the coming years.  

Where can I spend my Ethereum?

Some vendors accept ETH and are happy to work with other crypto, too. Let’s see where you could spend your ETH. 

Travels and online booking

If you are a traveler, you might like an option of purchasing affordable plane tickets on CheapAir. They have a pretty user-friendly interface and great prices to fly in different directions. What else is cool, the CheapAir also gives its users an opportunity to track the lowest fares with a built-in tracker. 

When you reach the destination point, you’ll need a hotel room. Then, you might visit Destinia to choose the best option for your stay. They have various countries on the list and affordable prices, so Destinia’s worth checking out! 

A great alternative to these two websites is Travala, which you might have heard of already. So if you plan on spending some ETH or other crypto on your trip, consider Travala, too. 

Electronics

Need some new headphones? Visit this Headphones website to purchase a new pair with your ETH or other cryptocurrencies. A wide choice among hundreds positions and an opportunity to pay with Ethereum — what could be better? 

We all know what Amazon is. You can buy almost anything there, including electronics. So go ahead and search for something you really need. 

Other goods

Are you a specialty coffee lover? Then Toro Coffee Co might suit your needs. You can buy one pack of any coffee you like or purchase a coffee subscription, to get a “bottomless cup” as the website says. 

If you are a gambler, you would probably like Moonbet to bet on sports using crypto. However, don’t forget that this is a risky deal and betting does not guarantee you any profit. 

Looking for freelancers who accept crypto? Find them on Freelanceforcoins. Tens of specialists like web programmers, article writers, 3D modelers, language tutors and much more are waiting for your hire. 

Diamonds are a girl’s best friend? If you agree, then visit the Bono Shop. This Italian Jewelry shop provides its clients with an opportunity to pay for necklaces, rings, bracelets with Ethereum. 

This list will grow for sure, and sometime soon ETH owners will be able to use it more often. 

Conclusion

Ethereum has all the right attributes to become a widely popular medium of exchange. However, change isn’t always immediate. Ethereum still has a long way to go before it can be called a widely adopted currency. Before the real economy starts accepting ETH it has to first gain more trust in crypto. More people have to start seeing crypto as a revolutionary technology. 

Furthermore, more regulatory clarity is needed by governments around the world, before Ethereum can take the big leap into the mainstream real economy. 

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.