In recent years, cryptocurrency has transcended its role as an investment asset and has become a viable payment method for a variety of goods and services in South Africa.
While many people are familiar with using crypto for online trading or investment purposes, you might be surprised by the wide array of things you can purchase with cryptocurrency in the country.
Here’s a look at five unexpected items and services you can buy using your digital currency in South Africa:
1. Groceries and everyday essentials
Major supermarket chain Pick n Pay now accepts Bitcoin payments through the Lightning Network at over 1,500 locations nationwide. This includes their Express and Clothing stores. Customers can use a Bitcoin Lightning wallet or apps like CryptoQR, VALR, or Luno to scan QR codes at checkout, facilitating instant payments.
2. Gift cards for popular retailers
If a store doesn’t directly accept cryptocurrency, you can still shop there by purchasing gift cards with Bitcoin. Platforms like Bitrefill allow you to buy gift cards for retailers such as Woolworths, Checkers, Shoprite, and Takealot, which can then be redeemed in-store or online.
3. High-end vehicles
In a notable first, Ferris Cars of Fourways accepted Bitcoin for a pre-owned Ferrari California in April 2021. This marked a significant step in integrating cryptocurrency into high-value transactions in South Africa.
4. Smartphone and device pepairs
Tech repair service provider weFix (formerly iFix) accepts Bitcoin for the repair of Apple and Samsung devices. This offers a convenient option for crypto holders needing device servicing.
5. Online shopping
South African e-commerce giant Takealot accepts Bitcoin payments via PayFast, in partnership with Luno. Customers can select “Instant EFT” at checkout to pay with Bitcoin, facilitating a seamless online shopping experience.
These examples highlight the growing acceptance of cryptocurrency in South Africa, offering consumers more flexibility in how they spend their digital assets.
