In today’s digital age, the payments landscape is vastly different from 20 years ago. As payment options have evolved, cryptocurrency is has emerged as a popular alternative method of payment. This raises the question – how on earth do I pay using crypto? Don’t worry – we’ve got everything you need to know in our comprehensive guide to paying with crypto.

First things first – you need a crypto wallet. At its core, a crypto wallet is a piece of hardware or software that allows you to store your crypto. In addition to this, many online wallets will also allow you to purchase crypto through an exchange, where you can change your fiat to cryptocurrency.

If you’re looking for a simple and secure crypto wallet, why not try Jiggle? Our self-custody crypto wallet has been designed to make crypto accessible for everyone. As a bonus, we’ve integrated with our exchange partner Waltzer, enabling you to buy and sell crypto on demand.
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Now you have your wallet, the next step is deciding which cryptocurrency suits your payment best. Cryptocurrencies have diversified far beyond the pioneering Bitcoin, and while it’s still the big name on the block, it may not be your best option for making payments. If you can, check with the merchant to find out which cryptocurrencies they accept. Let’s explore Bitcoin, as well as some alternatives, and see the unique reasoning behind their creations and their various benefits.

​Security

If you want to prioritise security, then Bitcoin is your go-to. The network was designed with security at the centre, but this comes as the cost of slower transaction speed with relatively high fees. The average time for a new block to be added to the Bitcoin network is approximately 10 minutes and can be longer with network congestion- so if you want those new shoes asap, you may want to go elsewhere.

Efficiency

Litecoin remedies a few of Bitcoin’s core problems, operating on similar principles, but with much quicker transaction speeds. This also comes with the bonus of relatively low transaction fees. Litecoin average transaction fees only amount to a couple of cents, compared with several dollars for average Bitcoin transactions.

​Stability

As the name would suggest, if you’re looking for stability, then a Stablecoin is the one for you. A Stablecoin is a cryptocurrency that has been designed to maintain a relatively constant value, compared with the notorious volatility of traditional unpegged cryptocurrencies. To achieve this, its value is supposed to be pegged to a reference asset, such as another currency, commodity or another financial instrument. Popular examples of Stablecoins are USDT and USDC which are both pegged to the US dollar.

Speed

If you’re in the market for speed, you can’t go wrong with Solana. With over 1,000 transactions per second and an impressive block time of just 0.41 seconds, Solana enables near-instant transactions, making it one of the fastest blockchains available. This high throughput and low latency make it ideal for crypto payments, ensuring users experience seamless and efficient transactions without long wait times.

So now we have a wallet, and you’ve purchased your preferred cryptocurrency…it’s time to go shopping! As the internet can be a hectic place to go digging around… I’ve taken the liberty of finding some of the best crypto shopping in town.

If you’re looking for holiday destinations, you’re in the right place. With Travala you can book flights, hotels and even activities using your crypto. Whilst my pitch for a Jiggle all-expenses paid crypto holiday is still under review, don’t let that stop you jetting off on yours.

If you’re looking for a special something for your special someone, head over to WHammond to explore their extensive jewellery range. If you just want to treat yourself BitDials offer some pretty serious watches.

And lastly, if you need a get out of jail card, here are a couple of Law firms that offer their services for crypto.
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When making a purchase you will be charged what is called a ‘Network fee’ or ‘Mining fee’. These terms are often used interchangeably to refer to the amount of cryptocurrency you pay to initiate a transaction on a blockchain network. This may sound confusing but is very simple- this is just the fee paid to the networks’ miners or validators to confirm the transaction and add it to the blockchain.

So… Why is this important? Because these fees can vary based on factors like the selected cryptocurrency, the network activity and the size of the transaction. During high demand, fees can rise due to user competition for swift processing. So, make sure to keep an eye out on the fees when making transacting with merchants. With Jiggle you can select your desired speed of transaction, and the network fee will change accordingly, so if you not in a rush to get a payment through, consider lowering those fees. Also, keep in mind that a currency like Litecoin has much lower average transaction fees than that of Bitcoin, if that is what you are prioritising.

Lastly, once you have selected a product it is important you send the merchant the correct amount for the product. Now, this might sound simple but trust me, people make this mistake a LOT. Depending on the wallet you use, you will need to make sure you are covering both the price of the product and the network fee! If you’re using a Jiggle wallet there’s no need to worry, you just need to input the exact price of the product (this is usually presented in the crypto amount), and the Jiggle wallet will calculate and add the transaction fee on top for you. All you need to do is make sure you have enough crypto in your wallet to cover the mining fee as well - simple!

The crypto payments landscape might seem daunting, but Jiggle is on a mission to simplify crypto for everyone. Our self-custody wallet was designed to be simple, secure and making buying, sending and paying with crypto straightforward. Create an account in just a few simple steps and take full control over your crypto.

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Got more questions? Reach out to our agents via our live chat. Alternatively, contact us in the Jiggle app or send us an email at [email protected]. Whatever you chose, our agents are available 24/7 and will be able to assist you!

Jiggle is not affiliated with any third-party platforms, external links, or any other third-party resources mentioned in this article. As such, Jiggle cannot guarantee the performance of third-party products or services, or that the steps shown and the information provided will always be accurate.