Dominyka is a Copywriter at CoinGate. During her career as a copywriter, journalist, and communication specialist, she had the opportunity to handle a wide range of topics, from human rights to lifestyle articles, technology, and now crypto. She sees the importance of new technologies spread and a need for educational and usable content.

Vilius is a seasoned copywriter and bitcoin enthusiast specializing in blockchain and cryptocurrency topics. He's been with CoinGate since 2018, writing blogs, social media content, sales materials, newsletters, FAQs, and more. He's relentless in pursuing knowledge and a better understanding of the crypto industry, which helps him create meaningful and engaging content every day.

The official CoinGate blog for product news, how-to guides, statistics, crypto industry highlights, education, and more. Subscribe for weekly content ...

CoinGate - Your Gateway to Cryptocurrency Payments

A place to find info & news about CoinGate products, services, promotions, plans, ideas and thoughts.

CoinGate Blog

Keep up and get notified about crypto news.

Subscribe to our Newsletter

Subscribe now

These cookies are used to measure, understand, and report on your usage of the service.

First party analytics, third party analytics.

Looking for something more? Try Gift Cards

Cookies are small pieces of data stored on your computer or other devices when websites are loaded in a browser. They ensure a consistent and efficient experience for visitors and perform essential functions such as allowing users to register and remain logged in.

Cookie Policy

Try your luck by using different search parameters instead.

Sorry, but no results were found 😞

Save preferences

Strong partnerships

It’s the best way to effortlessly hear about our new offers and promotions for gift card deals and more!

Follow us on social media!

Buy, Sell or Accept Cryptocurrency with CoinGate

Sign Up and Get Started

These cookies are essential to a website in order to enable a user to move around and to use a websites features, such as remembering information entered on forms when a user moves between pages within a browser session.

Strictly necessary for service.

These cookies may be used to collect information about you when you visit our website and you with interest-based advertising or other targeted content. Third-party cookies are covered by the third parties privacy policy.

Third party advertising cookies.

CoinGate is a Lithuanian-based fintech company founded in 2014. The company offers cryptocurrency payment processing services, as well as trading options.

Start accepting Bitcoin and other cryptocurrency payments on your online or brick & mortar store. Get bank settlements in Euros weekly, or keep the coins.

Accept Dogecoin and 70+ more cryptocurrencies on your online store. Fiat payouts to bank account, customer refunds & more at crypto payment gateway CoinGate.

Accept Ethereum and 70+ more cryptocurrencies on your online store. Fiat payouts to bank account, customer refunds & more at crypto payment gateway CoinGate.

Accept Litecoin and 70+ more cryptocurrencies on your online store. Fiat payouts to bank account, customer refunds & more at crypto payment gateway CoinGate.

Accept Tether and 70+ more cryptocurrencies on your online store. Fiat payouts to bank account, customer refunds & more at crypto payment gateway CoinGate.

Accept TRON and 70+ more cryptocurrencies on your online store. Fiat payouts to bank account, customer refunds & more at crypto payment gateway CoinGate.

Accept XRP and 70+ more cryptocurrencies on your online store. Fiat payouts to bank account, customer refunds & more at crypto payment gateway CoinGate.

Due diligence information comprises the facts about a customer that enables us to assess the extent to which the customer exposes it to a range of risks.

Send cryptocurrency bills via email instantly | Set up subscription plans for your customers | Receive blockchain payments in BTC and 70+ cryptos recurringly.

Find guidelines for CoinGate brand assets and rules. This information is useful for journalists, bloggers, as well as current and potential business partners.

Accept payments or donations on your website with customizable payment buttons—one invoice for +50 crypto assets. Receive Euro settlements to a bank account.

Buy and sell any cryptocurrency, including Bitcoin, Ethereum, Cardano and other securely with CoinGate. Low fees, superior customer support and seamless KYC.

Buy Bitcoin, Ethereum, XRP or other cryptocurrencies with your bank account. A single SEPA transfer straight to your wallet | Sell cryptocurrency for fiat.

Use your VISA/Mastercard credit or debit card to buy Bitcoin, Ethereum, XRP, Nano, TRON, BitTorrent Token (BTT) and other cryptocurrencies safely and fast.

Use any debit or credit card to buy Ethereum (ETH) seamlessly through CoinGate. No registration and account needed. Low fees and fast payout

Spend your mobile balance to buy Bitcoin, Ethereum, XRP, Nano or other cryptocurrencies straight to a wallet | Sell crypto for Euros to a bank account.

UAB DECENTRALIZED (operating the CoinGate) - a private limited liability company, established and operating under the laws of the Republic of Lithuania.

Contact different CoinGate departments directly. Fill in the contact form, and our team members will reach out to you in 24 hours or faster.

Contact our compliance department if you have any issues with your verification process or similar inquiries. Fill out the contact form to get in touch.

Reach out to our marketing department to discuss communication and collaboration ideas. Describe your intentions in this form, and we’ll get back to you soon!

Get in touch with CoinGate sales department if you have questions about the product and integration of crypto payments. Fill out the contact form!

Sell Gift Cards on Coingate shop. Fill out the form to become a provider

Having a problem? Contact our support department, and we’ll solve your inquiries in 24 hours. Use this contact form to describe the issue.

Cookies are small text files that are stored by your browser on your device. We use them to make websites work in a better, more efficient way. Learn more.

Find where to spend Bitcoin online | Learn how to accept crypto payments | Buy bitcoins with SEPA transfer, credit card or mobile credit | Sell BTC for Euros.

Find where to spend Ethereum | Learn how to accept crypto payments | Buy ethers with SEPA transfer, credit card or mobile credit | Sell ETH for Euros.

Find where to spend Litecoin | Learn how to accept crypto payments | Buy litecoins with SEPA transfer, credit card or mobile credit | Sell LTC for Euros.

Find where to spend NANO | Learn how to accept crypto payments | Buy NANO with SEPA transfer, credit card or mobile credit | Sell NANO for Euros.

Find where to spend XRP | Learn how to accept crypto payments | Buy XRP with SEPA transfer, credit card or mobile credit | Sell XRP for Euros.

Try out how Coingate invoice works in the selection of our example shops.

Please read the document carefully. It shall become legally binding upon marking “ACCEPT TERMS AND CONDITIONS” checkbox and clicking “CREATE ACCOUNT” button.

Buy gift cards with Bitcoin from more than 2000+ brands. Bitcoin, Litecoin, Ethereum, XRP & many more cryptocurrencies accepted | Instant Email delivery

Buy and receive ecommerce gift cards for Amazon, eBay & other websites that allow you to shop for anything. Pay with BTC, LTC & 10+ cryptos, use instantly.

Our wide selection of entertainment gift cards will cover all your needs!  Cinema, concerts, sport events and endless content - it's all here!

If you strive to be up-to-date with the latest video game releases, want to be a pro gamer, or looking for new games, check out our gaming gift cards category. 

Explore all the tastes in the world with CoinGate Restaurants gift cards. Celebrate, laugh, talk and make memories over a delicious plate of your favorite food.

Step up your sports game or even discover a new active hobby. Buy a Sports gift card for any active life enthusiast. From clothes and gear to home gym and more.

CoinGate travel gift cards will let you plan the whole holidays using only cryptocurrencies. Fly, rent a car, find bus tickets and stays with travel gift cards.

2000+ Gift Cards For Crypto | Amazon, eBay, iTunes, Microsoft, Starbucks eGifts And Vouchers | Buy With Bitcoin, Litecoin, Ether, XRP And +70 Crypto Assets.

Pay for Gift Cards with cryptocurrency like BTC, ETH, LTC, NANO, DOGE, TRX and others, get them delivered straight to you or your friend via email, instantly. Bitcoin & Litecoin Lightning Network supported.

CoinGate | Buy or sell Bitcoin, XRP, Nano and other cryptocurrencies for Euros | Accept crypto payments in +50 coins risk-free with settlements to fiat!

Integrate crypto payments using several CoinGate integration methods. API, Plugins, Button and billing solution - all allowing to collect crypto payments seamlessly. 

Bitcoin and Litecoin (micro) transactions are faster and cost less with Lightning Network. No need to set up any nodes! Sign up and get started right away.

Implement Your Crypto Asset on CoinGate Payment Gateway!

Please make sure that you fully understand all potential risks relating to Virtual Assets before taking advantage of CoinGate services.

CoinGate company announcements, news, featured press releases, as well as press kit and contacts for journalists and other media representatives.

Start accepting Bitcoin (BTC), Litecoin (LTC), Ether (ETH) and +70 other cryptocurrency payments on your OpenCart website with CoinGate bitcoin plugin.

Browse the vast selection of electronic gift cards for payment cards such as Mastercard, Visa and many more. Additionally buy mobile refill gift cards - Vodafone, T-Mobile, Orange, AT&T and many more. All gift cards are available to buy with cryptocurrencies only, instantly delivered by email.

Use plugins for WooCommerce, Magento, PrestaShop, OpenCart, WHMCS and other websites to accept payments in Bitcoin, XRP and +50 other crypto assets.

Use Point-of-Sale app for Android and iOS or web version to accept cryptocurrency payments anywhere. Get settlements to your bank in EUR or keep what you get.

Accept Bitcoin (BTC), Litecoin (LTC), Ether (ETH) and +70 other cryptocurrency payments on your PrestaShop site with CoinGate module. 

CoinGate charges a standard 1% fee for trader operations and 1% flat fee for merchant payment processing services. Additional services have different costs.

CoinGate follows the requirements of the European Union General Data Protection Regulation (GDPR) and other laws protecting information about you.

The number of customers that pay with bitcoin depends on how well you present it as an available payment option. Start with the Bitcoin logo on your website!

Introduce new users or businesses to CoinGate services and earn Euros, Bitcoins, USDT | Get 1% reward from each completed order | Sign up to start building passive income!

Accept payments in Bitcoin and 70+ other cryptocurrencies on your website by adding a new payment method to your store’s checkout through Shopware.

Wondering who accepts bitcoin? Visit CoinGate's Bitcoin merchant directory to find hundreds of online shops that accept payments in Bitcoin, and other crypto

Want to support Ukraine? Donate Crypto directly to the National Bank of Ukraine. CoinGate will process all payments with 0% fees.

Check whether a particular CoinGate service is available in your country at the moment. The list of supported countries might change over time.

Find information about what cryptocurrencies are available to use for different services such as accepting crypto payments, buying or selling crypto assets, and more.

Start accepting bitcoin, litecoin, ether & other crypto payments with an official WHMCS plugin powered by CoinGate. 

Accept payments in Bitcoin and 70+ other cryptocurrencies on your Wix website by adding a new payment method to your store’s checkout.

Accept Bitcoin (BTC), Litecoin (LTC), Ether (ETH) and +70 other cryptocurrency payments using an official WooCommerce (WordPress) plugin, powered by CoinGate

404 - CoinGate

About Us | Milestones And Achievements - CoinGate

Accept Bitcoin and other Cryptocurrency Payments | CoinGate

Accept Dogecoin (DOGE) payments | CoinGate

Accept Ethereum (ETH) payments | CoinGate

Accept Litecoin (LTC) payments | CoinGate

Accept Tether (USDT) payments | CoinGate

Accept TRON (TRX) payments | CoinGate

Accept XRP payments | CoinGate

AML/CTF Policy - CoinGate

Email Billing | Instant & Recurring Crypto Bill - CoinGate

Brand assets | Info For Media And Partners | News - CoinGate

Payment Buttons for Bitcoin, Nano, Ether, XRP & More - CoinGate

Buy and Sell Cryptocurrency Online | CoinGate

Buy Bitcoin & Other Crypto With Bank Account - CoinGate

Buy Bitcoin, Ethereum With Credit or Debit Card - CoinGate

Buy Ethereum (ETH) with Credit Card | CoinGate

Buy Bitcoin, Litecoin, XRP & More With Mobile - CoinGate

Career at CoinGate

Data Processing Agreement | AMC/CTF Policy - CoinGate

Contact Forms For All Departments - CoinGate

Become Gift Cards reseller

Compliance Department Contact Page - CoinGate

Press (Marketing) Department Contact Page - CoinGate

Sales Department Contact Page - CoinGate

Support Department Contact Page - CoinGate

Cookie Policy - CoinGate

Learn about Bitcoin cryptocurrency - CoinGate

Learn about Ethereum cryptocurrency - CoinGate

Learn about Litecoin cryptocurrency - CoinGate

Learn about NANO cryptocurrency - CoinGate

Learn about XRP cryptocurrency - CoinGate

Disclaimer for Purchasers - CoinGate

CoinGate example shops

Cryptocurrency Exchange rates in real time | CoinGate

Gift cards Terms and Conditions - CoinGate

Gift Cards for Bitcoin, Litecoin, XRP & More - CoinGate

Ecommerce gift cards | CoinGate


Entertainment gift cards | CoinGate

Gaming gift cards | CoinGate

Restaurants gift cards | CoinGate

Sports gift cards | CoinGate

Travel gift cards | CoinGate

Buy Gift Cards With Bitcoin & Other Cryptocurrencies - CoinGate

Checkout - CoinGate

Order details

Buy Gift Cards, pay with Bitcoin & other crypto currency

Top Bitcoin and other Crypto Payment Processor | CoinGate

Cryptocurrency integration methods |  CoinGate

Collect Bitcoin payments via Lightning Network - CoinGate

Terms and Conditions for Merchants - CoinGate

News & Media Info | Cryptocurrency Payment Gateway - CoinGate

Accept Crypto Payments with OpenCart bitcoin plugin | CoinGate

Crypto Payment Plugins for eCommerce Platforms - CoinGate

Point-of-Sale (PoS) App for Bitcoin & Other Coins - CoinGate

Accept Crypto Payments with PrestaShop Module | CoinGate

Pricing & Service Fees - CoinGate

Privacy Policy - CoinGate

Learn How To Promote Your Crypto Payment Method - CoinGate

Purchaser terms and conditions - CoinGate

Terms and Conditions of Referral Program - CoinGate

Earn Rewards in Euros, Bitcoins, USDT | CoinGate Referral Program - CoinGate

Risk Warning Disclaimer - CoinGate

Accept Bitcoin and other Crypto Payments With Shopware – CoinGate

200+ places that accept Bitcoin (BTC) payments

Support Ukraine | CoinGate

Supported Cryptocurrencies For Each Service - CoinGate

Supported Countries For Each Service - CoinGate 

Terms and Conditions - CoinGate

Terms and Conditions for Traders

Terms and Conditions for Merchants from the United States of America

Terms and Conditions for Traders from the United States of America

User terms and conditions - CoinGate

Accept Crypto Payments with WHMCS Plugin | CoinGate

Accept Bitcoin and other Crypto Payments With Wix – CoinGate

Accept Crypto Payments with WooCoommerce (WordPress) Plugin | CoinGate

<a href="https://sweepwidget.com/c/65145-0trvc82o">Join the Christmas giveaway of €1000!</a>

HODL is a term often used to describe presumably the best strategy for those who invest in cryptocurrencies. But what if we told you this hodling behavior harms the whole industry?
<a class="keychainify-checked" href="https://wp-blog-assets.coingate.com/2019/04/Twitter-collage-atnaujintas.png"><img loading="lazy" class="aligncenter size-large wp-image-2825" src="https://wp-blog-assets.coingate.com/2019/04/Twitter-collage-atnaujintas-1024x535.png" alt="cryptorecycle hodl" width="1024" height="535" srcset="https://wp-blog-assets.coingate.com/2019/04/Twitter-collage-atnaujintas-1024x535.png 1024w, https://wp-blog-assets.coingate.com/2019/04/Twitter-collage-atnaujintas-150x78.png 150w, https://wp-blog-assets.coingate.com/2019/04/Twitter-collage-atnaujintas-300x157.png 300w, https://wp-blog-assets.coingate.com/2019/04/Twitter-collage-atnaujintas-768x401.png 768w, https://wp-blog-assets.coingate.com/2019/04/Twitter-collage-atnaujintas-860x449.png 860w, https://wp-blog-assets.coingate.com/2019/04/Twitter-collage-atnaujintas-680x355.png 680w, https://wp-blog-assets.coingate.com/2019/04/Twitter-collage-atnaujintas-500x261.png 500w, https://wp-blog-assets.coingate.com/2019/04/Twitter-collage-atnaujintas-400x209.png 400w, https://wp-blog-assets.coingate.com/2019/04/Twitter-collage-atnaujintas-200x105.png 200w, https://wp-blog-assets.coingate.com/2019/04/Twitter-collage-atnaujintas-50x26.png 50w, https://wp-blog-assets.coingate.com/2019/04/Twitter-collage-atnaujintas.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></a>
The word hodl is still widespread, even though it has been a meme for six years now. The term itself came from the funniest drunken rant that went viral in 2013 on BitcoinTalk.org forum, carrying the misspelled title <a class="keychainify-checked" style="color: #000000;" href="https://bitcointalk.org/index.php?topic=375643.0" target="_blank" rel="noopener">“I AM HODLING.”</a>
Long story short, a guy admitted of selling his Bitcoin when its price was at the lowest. The reason is that everyone immediately starts panicking, so he breaks, even though at first he tried holding the asset until the value raises. The thread quickly became viral, inspiring many to patiently wait for the long-term profits.
Since then, many started using the misspelled hodl to refer to an investment strategy, claiming they believe in the bright future while comparing Bitcoin to gold. However, Bitcoin wasn’t meant to just passively store the value.
<h2 style="text-align: justify;">A true purpose of Bitcoin</h2>
<figure id="attachment_2826" aria-describedby="caption-attachment-2826" style="width: 1024px" class="wp-caption aligncenter"><a class="keychainify-checked" href="https://wp-blog-assets.coingate.com/2019/04/whitepaper.jpg"><img loading="lazy" class="wp-image-2826 size-large" src="https://wp-blog-assets.coingate.com/2019/04/whitepaper-1024x373.jpg" alt="bitcoin whitepaper" width="1024" height="373" srcset="https://wp-blog-assets.coingate.com/2019/04/whitepaper-1024x373.jpg 1024w, https://wp-blog-assets.coingate.com/2019/04/whitepaper-150x55.jpg 150w, https://wp-blog-assets.coingate.com/2019/04/whitepaper-300x109.jpg 300w, https://wp-blog-assets.coingate.com/2019/04/whitepaper-768x280.jpg 768w, https://wp-blog-assets.coingate.com/2019/04/whitepaper-1240x452.jpg 1240w, https://wp-blog-assets.coingate.com/2019/04/whitepaper-860x313.jpg 860w, https://wp-blog-assets.coingate.com/2019/04/whitepaper-680x248.jpg 680w, https://wp-blog-assets.coingate.com/2019/04/whitepaper-500x182.jpg 500w, https://wp-blog-assets.coingate.com/2019/04/whitepaper-400x146.jpg 400w, https://wp-blog-assets.coingate.com/2019/04/whitepaper-200x73.jpg 200w, https://wp-blog-assets.coingate.com/2019/04/whitepaper-50x18.jpg 50w, https://wp-blog-assets.coingate.com/2019/04/whitepaper.jpg 1666w" sizes="(max-width: 1024px) 100vw, 1024px" /></a><figcaption id="caption-attachment-2826" class="wp-caption-text">The Bitcoin Whitepaper by Satoshi Nakamoto (2008)</figcaption></figure>
When <a class="keychainify-checked" style="color: #000000;" href="https://bitcoin.org/bitcoin.pdf" target="_blank" rel="noopener">Satoshi Nakamoto created Bitcoin</a> as a new type of currency, he wished for it to be decentralized, free and accessible for everyone, no matter what the political or economic situation is. Until this day, Bitcoin still allows everyone to participate in a global economy freely, process payments faster and cheaper without being dependent on intermediaries like governments and banks.
The brilliant technology inspired both those who wanted to use it for the intended purpose and those who saw its tremendous potential, recognizing it as a great investment tool. While some found trading the most profitable way to go, others chose to hodl instead, which itself is not necessarily a bad thing. It merely decreases the amount of Bitcoin circulating, which results in lower available supply. If the current demand is high, you might indeed make a profit that way.
But what would happen if everyone suddenly decides that hodling is the best course of action? For the economy to function healthily, the currency has to actively serve as a means of payment, or a medium of exchange. If everyone would only hodl, Bitcoin would lose both value and purpose, meaning there would be no economy to grow in the first place. The asset would have no liquidity, utility, acceptance or real use cases. Therefore there would be no point in using it at all.
Evidently, the sole mentality of hodling can’t be healthy for a currency that was intended for transferring value. Thus the strategies should evolve into something more productive and beneficial to every Bitcoin network participant, or any digital asset for that matter. So, for cryptocurrencies to reach their full potential, hodling eventually should switch to spending.
<h2 style="text-align: justify;">Is Bitcoin suitable as a currency for payments?</h2>
Some are confident that at the moment, digital coins are not good enough for spending. The arguments for it differ – low TPS, high transaction costs, price volatility, and other commonly used misconceptions. Moreover, due to its inherent anonymity, some still believe that cryptocurrencies are something only criminals would use, which was <a class="keychainify-checked" style="color: #000000;" href="https://coingate.com/blog/post/aml-compliance-bitcoin-adoption" target="_blank" rel="noopener">proven to be false</a> repeatedly.  
Despite the widely prevalent oversights, digital money is becoming a rival to traditional payment methods. With the rise of cryptocurrency payment processors that adopt the latest technologies like the Lightning Network, the issues mentioned earlier become obsolete. In fact, nowadays Bitcoin attracts more people and businesses than ever. According to the <a class="keychainify-checked" style="color: #ff6600;" href="https://www.statista.com/statistics/647374/worldwide-blockchain-wallet-users/" target="_blank" rel="noopener">Statista</a> data, by Q4 of 2018, there were over 32 million Bitcoin wallets with more than 7 million active network participants. That’s 30% more wallets comparing to the same period in 2017.
Furthermore, <a class="keychainify-checked" style="color: #000000;" href="https://coinmap.org" target="_blank" rel="noopener">Coinmap</a> findings indicate that the number of merchants accepting Bitcoin has surged by more than 700% within the last six years, further pushing Bitcoin as a reasonable payment option. And just recently, a huge supermarket chain <a class="keychainify-checked" style="color: #000000;" href="https://cointelegraph.com/news/tipping-point-kroger-starbucks-may-ignite-retail-crypto" target="_blank" rel="noopener">Kroger announced their plans to drop Visa</a> due to enormously high fees and possibly leverage the Bitcoin <a class="keychainify-checked" style="color: #000000;" href="https://coingate.com/blog/post/lightning-network-payments-intro" target="_blank" rel="noopener">Lightning Network technology</a> instead. According to Cointelegraph, such a large company accepting Bitcoin payments could become a tipping point in the ignition of its adoption.
However, due to a large number of hodlers and lack of spenders, Bitcoin and other cryptocurrencies are stuck in a vicious circle of misapprehension between merchants and crypto communities. The situation reminds of a “chicken and egg” paradox. It’s not clear whether we have to wait for broader Bitcoin acceptance before people are willing to pay with it or use it for payments more often so businesses would be keener to accepting cryptocurrency payments in the first place.
It all comes to a point when a regular user still has doubts about spending digital assets as intended just because they can suddenly raise in value, which would result in a lost opportunity to “cash out.” Meanwhile, the fear and a passive waiting for the exponential growth of crypto economies slows down the adoption speed.
The fact remains – long-term hodling discourages both new and old Bitcoiners of using the asset as intended – transacting peer-to-peer. In such a scenario, Bitcoin becomes viable only for market speculators that have a single goal – making a profit.
But is there a solution that would make cryptocurrencies attractive both as an investment opportunity and digital cash for spending?
<h2 style="text-align: justify;">Upgrade hodling with CryptoRecycle</h2>
CryptoRecycle is a methodology best described as “spend and replace.” It means that you always keep Bitcoin moving by spending it at the shops and immediately rebuying the same amount you’ve just paid. It unites both hodling (investing and waiting) and spending (using crypto for payments) into a single strategy. This way, a user boosts the market capitalization by converting fiat currency into a digital asset. Such methodology helps to create an economy that accelerates the adoption of Bitcoin and benefits the network’s growth at the same time.
<figure id="attachment_2830" aria-describedby="caption-attachment-2830" style="width: 1024px" class="wp-caption aligncenter"><a class="keychainify-checked" href="https://wp-blog-assets.coingate.com/2019/04/recycle.png"><img loading="lazy" class="size-large wp-image-2830" src="https://wp-blog-assets.coingate.com/2019/04/recycle-1024x869.png" alt="crypto-recycling hodl" width="1024" height="869" srcset="https://wp-blog-assets.coingate.com/2019/04/recycle-1024x869.png 1024w, https://wp-blog-assets.coingate.com/2019/04/recycle-150x127.png 150w, https://wp-blog-assets.coingate.com/2019/04/recycle-300x255.png 300w, https://wp-blog-assets.coingate.com/2019/04/recycle-768x652.png 768w, https://wp-blog-assets.coingate.com/2019/04/recycle-860x730.png 860w, https://wp-blog-assets.coingate.com/2019/04/recycle-680x577.png 680w, https://wp-blog-assets.coingate.com/2019/04/recycle-500x424.png 500w, https://wp-blog-assets.coingate.com/2019/04/recycle-400x339.png 400w, https://wp-blog-assets.coingate.com/2019/04/recycle-200x170.png 200w, https://wp-blog-assets.coingate.com/2019/04/recycle-50x42.png 50w, https://wp-blog-assets.coingate.com/2019/04/recycle.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></a><figcaption id="caption-attachment-2830" class="wp-caption-text">Buy/Spend/Replace cycle</figcaption></figure>
An example: Peter is a firm believer in Bitcoin, so he holds his savings in BTC. However, he also spends it whenever it’s possible. One day, Peter realizes that he needs a new VPN subscription, so he buys a 3-year VPN plan for 100 Euros worth of Bitcoin. After that, he immediately invests 100 Euros in buying back the same amount of Bitcoin he just spent on VPN.
As a result, Peter successfully paid his merchant in just 10 minutes without ever converting to fiat. At the same time, he replenished his Bitcoin and created more demand for it in the process, which gives value and utility to the coin. It goes full circle, leaving merchants with fewer reasons not to accept Bitcoin, and Peter with the same amount of Bitcoin he had in the beginning.
<h2 style="text-align: justify;">Not for Bitcoin only</h2>
Now, some might say: “But I don’t hodl Bitcoin! I much rather prefer the technology of Tron/XRP/Ether, but these assets are not even made for payments”. It would be fair enough to point out that not all cryptocurrencies were initially made for shopping. However, it does not mean they cannot efficiently take that role anyway.
For example, XRP was created as a digital asset for financial institutions to source liquidity using the xRapid platform. Therefore, it is no surprise that XRP community hodls until big corporations will start using xRapid and the digital asset will increase in price. Few seem to acknowledge the fact that adding a new use-case for it would directly impact its technological adoption.
In this case, the speed and low costs of XRP ledger could also be utilized for peer-to-peer payments and everyday usage, like purchasing things online. In return, it would help the ledger’s decentralization, showcase the increasing utility of a crypto asset and provide an active, liquid market.
<figure id="attachment_2829" aria-describedby="caption-attachment-2829" style="width: 757px" class="wp-caption aligncenter"><a class="keychainify-checked" href="https://wp-blog-assets.coingate.com/2019/04/HRS.png"><img loading="lazy" class="size-full wp-image-2829" src="https://wp-blog-assets.coingate.com/2019/04/HRS.png" alt="crypto recycle hodl" width="757" height="604" srcset="https://wp-blog-assets.coingate.com/2019/04/HRS.png 757w, https://wp-blog-assets.coingate.com/2019/04/HRS-150x120.png 150w, https://wp-blog-assets.coingate.com/2019/04/HRS-300x239.png 300w, https://wp-blog-assets.coingate.com/2019/04/HRS-680x543.png 680w, https://wp-blog-assets.coingate.com/2019/04/HRS-500x399.png 500w, https://wp-blog-assets.coingate.com/2019/04/HRS-400x319.png 400w, https://wp-blog-assets.coingate.com/2019/04/HRS-200x160.png 200w, https://wp-blog-assets.coingate.com/2019/04/HRS-50x40.png 50w" sizes="(max-width: 757px) 100vw, 757px" /></a><figcaption id="caption-attachment-2829" class="wp-caption-text">Outcomes of crypto recycling digital assets</figcaption></figure>
CryptoRecycle is a universal strategy for all types of coins. Whatever is the end goal of developers, users or the community, the overall utility is what gives the asset value. Here are the ways how “spend and replace” cycle is more beneficial than just hodling:
<ul style="text-align: justify;">
<li>The increasing number of shoppers that pay with cryptocurrencies incentivize merchants to want to accept digital assets. Vendors would have no reason to act differently as they would otherwise miss an opportunity to attract a broader range of customers;</li>
<li>If a vendor doesn’t exchange the coins collected from shoppers, rebuying the asset may increase its value just because the merchant never converted it back to fiat. When every party avails of the same currency, there is no need for intermediary currencies anymore;</li>
<li>Spending and rebuying would increase the number of participants on the network and its overall volume, meaning the competition would rise and the price volatility would reduce;</li>
<li>An increasing utility and acceptance would promote trust and attract more businesses, investors and regular users in the process;</li>
<li>Wider crypto payment adoption would prompt more developments in the blockchain space, further improving the technology and solutions that come out of it;</li>
<li>And finally, you can spend your cryptocurrency while keeping your investments intact.</li>
</ul>
<h2 style="text-align: justify;">Invest and use at the same time</h2>
There is no arguing that hodling, as an investment strategy, can be profitable in the long-run. However, the overall success of any coin mostly depends on those people that actively participate in the economy and use cryptocurrencies as intended.
Good news is, you can indeed hodl your investment and spend it at the same time if you add rebuying in the mix. Using an upgraded formula we call CryptoRecycle, you can fulfill the purpose of hodling for profits and still use digital assets for payments, giving cryptocurrencies a meaning and favoring the whole industry in the process.
But most importantly, you, as a motivated investor wanting to keep the economy healthy and the prices high, ultimately benefit the most.

HODL is a term often used to describe presumably the best strategy for those who invest in cryptocurrencies.

CryptoRecycle: how to HODL and SPEND at the same time

Besides crypto payment processing services and a gift card shop, CoinGate also provides means to sell cryptocurrencies for fiat currencies like Euros (EUR) or British pounds (GBP) with a single transfer from any wallet you’re using.
<a class="keychainify-checked" href="https://wp-blog-assets.coingate.com/2019/03/howtosell.png"><img loading="lazy" class="aligncenter size-large wp-image-2821" src="https://wp-blog-assets.coingate.com/2019/03/howtosell-1024x535.png" alt="sell bitcoin coingate" width="1024" height="535" srcset="https://wp-blog-assets.coingate.com/2019/03/howtosell-1024x535.png 1024w, https://wp-blog-assets.coingate.com/2019/03/howtosell-150x78.png 150w, https://wp-blog-assets.coingate.com/2019/03/howtosell-300x157.png 300w, https://wp-blog-assets.coingate.com/2019/03/howtosell-768x401.png 768w, https://wp-blog-assets.coingate.com/2019/03/howtosell-860x449.png 860w, https://wp-blog-assets.coingate.com/2019/03/howtosell-680x355.png 680w, https://wp-blog-assets.coingate.com/2019/03/howtosell-500x261.png 500w, https://wp-blog-assets.coingate.com/2019/03/howtosell-400x209.png 400w, https://wp-blog-assets.coingate.com/2019/03/howtosell-200x105.png 200w, https://wp-blog-assets.coingate.com/2019/03/howtosell-50x26.png 50w, https://wp-blog-assets.coingate.com/2019/03/howtosell.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></a>
Currently, users can sell 11 cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Tether (USDT), Bitcoin Vault (BTCV), Binance USD (BUSD), Dogecoin (DOGE), Litecoin (LTC), Bitcoin Cash (BCH), TRON (TRX), and Dai (DAI).
Selling cryptocurrencies on CoinGate is intuitive and hassle-free. Once you <a class="keychainify-checked" href="https://dashboard.coingate.com/register" target="_blank" rel="noopener">create a personal account</a> and <a class="keychainify-checked" href="https://coingate.com/blog/post/verify-trader-account-guide" target="_blank" rel="noopener">verify your identity</a>, go to your account dashboard, select the “Trader->Buy &amp; Sell” menu section and choose the “Sell” option, or <a class="keychainify-checked" href="https://dashboard.coingate.com/account/trader/trade#sell" target="_blank" rel="noopener">click here</a> to begin.
<h2>Selling cryptocurrency on CoinGate: a step-by-step guide</h2>
<h3>#1: Add a bank account</h3>
The first thing you need to do is add your bank account details. This is where you will receive your cash for the cryptocurrency you’re selling. 
You only need to do it once, and the next time you use the service, you’ll be able to select the bank account from the list. Feel free to add as many bank accounts as you wish.
<img loading="lazy" class="alignnone wp-image-5915 size-full" src="https://wp-blog-assets.coingate.com/2019/04/1c9b48aa-1st-add-euro-address.png" alt="how to sell crypto step one" width="1209" height="395" srcset="https://wp-blog-assets.coingate.com/2019/04/1c9b48aa-1st-add-euro-address.png 1209w, https://wp-blog-assets.coingate.com/2019/04/1c9b48aa-1st-add-euro-address-300x98.png 300w, https://wp-blog-assets.coingate.com/2019/04/1c9b48aa-1st-add-euro-address-1024x335.png 1024w, https://wp-blog-assets.coingate.com/2019/04/1c9b48aa-1st-add-euro-address-150x49.png 150w, https://wp-blog-assets.coingate.com/2019/04/1c9b48aa-1st-add-euro-address-768x251.png 768w" sizes="(max-width: 1209px) 100vw, 1209px" />
To add a bank account, click the “+Add a new Euro/GBP address” button and fill out the form: add a payout address title, account holder name, bank name, bank SWIFT code, and your account number/IBAN address.
<img loading="lazy" class="wp-image-5916 size-full aligncenter" src="https://wp-blog-assets.coingate.com/2019/04/065eba54-2nd-add-euro-address.png" alt="how to sell crypto step two" width="573" height="623" srcset="https://wp-blog-assets.coingate.com/2019/04/065eba54-2nd-add-euro-address.png 573w, https://wp-blog-assets.coingate.com/2019/04/065eba54-2nd-add-euro-address-276x300.png 276w, https://wp-blog-assets.coingate.com/2019/04/065eba54-2nd-add-euro-address-138x150.png 138w" sizes="(max-width: 573px) 100vw, 573px" />
It’s important that the owner’s name of a provided bank account is the same as the CoinGate account holder’s name.
Your bank’s SWIFT code can be found in your bank account statements. Alternatively, you can use a <a class="keychainify-checked" href="https://wise.com/gb/swift-codes/" target="_blank" rel="noopener">SWIFT/BIC finder</a> (or Google it!). 
When done, click the “Continue” button. You’ll receive a confirmation email in your inbox. After confirming your payout setting, you’ll be able to use it immediately.
<h3>#2: Enter the sell/receive amount </h3>
The next step is to select a cryptocurrency you intend to sell and a fiat currency you intend to receive. Then, enter the amount to sell or the amount to receive. 
No matter which one you enter, the exchange rate will be calculated and presented to you in the “Order Details” section, including the service fee, which is 1% of the total amount deducted from the sent amount.
<img loading="lazy" class="alignnone wp-image-5917 size-full" src="https://wp-blog-assets.coingate.com/2019/04/87499ace-3rd-enter-receive-or-sell-amount-and-check-order-details.png" alt="how to sell crypto step three" width="1721" height="587" srcset="https://wp-blog-assets.coingate.com/2019/04/87499ace-3rd-enter-receive-or-sell-amount-and-check-order-details.png 1721w, https://wp-blog-assets.coingate.com/2019/04/87499ace-3rd-enter-receive-or-sell-amount-and-check-order-details-300x102.png 300w, https://wp-blog-assets.coingate.com/2019/04/87499ace-3rd-enter-receive-or-sell-amount-and-check-order-details-1024x349.png 1024w, https://wp-blog-assets.coingate.com/2019/04/87499ace-3rd-enter-receive-or-sell-amount-and-check-order-details-150x51.png 150w, https://wp-blog-assets.coingate.com/2019/04/87499ace-3rd-enter-receive-or-sell-amount-and-check-order-details-768x262.png 768w, https://wp-blog-assets.coingate.com/2019/04/87499ace-3rd-enter-receive-or-sell-amount-and-check-order-details-1536x524.png 1536w" sizes="(max-width: 1721px) 100vw, 1721px" />
The exchange rate will be locked for one minute. After the invoice is generated, the exchange rate will remain the same for another 20 minutes. Note that if your payment does not clear in 20 minutes, the exchange rate will be recalculated.
When done, select a preferred bank account to receive your payment and click the “Continue” button.
<h3>#3: Make a payment from your wallet</h3>
The last step is to make a payment from your wallet to the cryptocurrency address presented on the invoice. Scan the QR code or copy and paste the receiving address to your wallet and send the exact amount shown on the invoice. 
The invoice will detect the incoming payment automatically, and the automated message will let you know that the payment has been received.
<img loading="lazy" class="wp-image-5918 size-full aligncenter" src="https://wp-blog-assets.coingate.com/2019/04/5f50ad0b-4th-pay.png" alt="how to sell crypto step four" width="510" height="894" srcset="https://wp-blog-assets.coingate.com/2019/04/5f50ad0b-4th-pay.png 510w, https://wp-blog-assets.coingate.com/2019/04/5f50ad0b-4th-pay-171x300.png 171w, https://wp-blog-assets.coingate.com/2019/04/5f50ad0b-4th-pay-86x150.png 86w" sizes="(max-width: 510px) 100vw, 510px" />
<h3>#4: Withdraw the funds</h3>
When the payment is confirmed, the funds will appear in your CoinGate balance. Go to the “Balances->Accounts” menu section on your dashboard and finalize the withdrawal.
Once done, there’s nothing else left to do – simply wait for your payment to arrive in your bank account. It might take from 10 minutes to 24 hours. 
Are you also interested in buying crypto on CoinGate? If so, <a class="keychainify-checked" href="https://coingate.com/blog/post/how-to-buy-bitcoin-litecoin-xrp-on-coingate" target="_blank" rel="noopener">this guide</a> might be handy.
If you have any additional questions, please consult our <a class="keychainify-checked" href="https://support.coingate.com/hc/en-us" target="_blank" rel="noopener">FAQ page</a> for more information, or contact our support team at support@coingate.com.

Selling cryptocurrencies for fiat on CoinGate is intuitive and easy. Learn how to sell BTC, LTC & more coins in this step-by-step guide.

How to sell Bitcoin, Litecoin & other crypto for fiat (EUR, GBP) - CoinGate

How to sell Bitcoin, Litecoin & other crypto for fiat (EUR, GBP)

Spending XRP online is easy. In this guide, you will learn how to pay for a merchant’s invoice with XRP using either an exchange account or a wallet.
Great news, you have just landed on a CoinGate invoice! Now select XRP and click on the “Pay with XRP” button to proceed. Entering your email address is optional but encouraged: you will only receive a single status update to your inbox.
A payment window with further details will open, and you will have 20 minutes (sometimes more) to send the transaction. Keep an eye out on the timer!
To make the payment, you will need to enter: the total amount to pay (1), the address (2) and the destination tag (3). 
You can also scan the QR code (4) if you are using a mobile wallet, or click on the blue wallet button (5) to trigger the software wallet on your device.
<a class="keychainify-checked" href="https://wp-blog-assets.coingate.com/2019/03/1.png"><img loading="lazy" class="aligncenter wp-image-2800 size-large" src="https://wp-blog-assets.coingate.com/2019/03/1-1024x616.png" alt="xrp coingate pay" width="1024" height="616" srcset="https://wp-blog-assets.coingate.com/2019/03/1-1024x616.png 1024w, https://wp-blog-assets.coingate.com/2019/03/1-150x90.png 150w, https://wp-blog-assets.coingate.com/2019/03/1-300x181.png 300w, https://wp-blog-assets.coingate.com/2019/03/1-768x462.png 768w, https://wp-blog-assets.coingate.com/2019/03/1-860x517.png 860w, https://wp-blog-assets.coingate.com/2019/03/1-680x409.png 680w, https://wp-blog-assets.coingate.com/2019/03/1-500x301.png 500w, https://wp-blog-assets.coingate.com/2019/03/1-400x241.png 400w, https://wp-blog-assets.coingate.com/2019/03/1-200x120.png 200w, https://wp-blog-assets.coingate.com/2019/03/1-50x30.png 50w, https://wp-blog-assets.coingate.com/2019/03/1.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></a>
<h2 style="text-align: justify;">How to send XRP from an exchange</h2>
For this example, we will make a payment using the Binance exchange. First, go to “Funds” tab, select “Withdrawals” option and choose XRP in the dropdown.
<a class="keychainify-checked" href="https://wp-blog-assets.coingate.com/2019/03/2.png"><img loading="lazy" class="aligncenter wp-image-2801 size-full" src="https://wp-blog-assets.coingate.com/2019/03/2.png" alt="transfer XRP from binance" width="757" height="313" srcset="https://wp-blog-assets.coingate.com/2019/03/2.png 757w, https://wp-blog-assets.coingate.com/2019/03/2-150x62.png 150w, https://wp-blog-assets.coingate.com/2019/03/2-300x124.png 300w, https://wp-blog-assets.coingate.com/2019/03/2-680x281.png 680w, https://wp-blog-assets.coingate.com/2019/03/2-500x207.png 500w, https://wp-blog-assets.coingate.com/2019/03/2-400x165.png 400w, https://wp-blog-assets.coingate.com/2019/03/2-200x83.png 200w, https://wp-blog-assets.coingate.com/2019/03/2-50x21.png 50w" sizes="(max-width: 757px) 100vw, 757px" /></a>Then, copy the receiving address from your merchant’s invoice and paste it in “XRP Withdrawal Address” field. Do the same with destination tag – copy it from the invoice and paste in Binance’s “XRP Withdrawal Tag” field.
Note that the withdrawing funds from an exchange may have an additional transaction fee. In this case, it is 0.25 XRP. It is crucial that you don’t forget to add it to the total amount you need to pay. Otherwise, your payment will not be automatically processed and you will have to repeat the process again.
<a class="keychainify-checked" href="https://wp-blog-assets.coingate.com/2019/03/3.png"><img loading="lazy" class="aligncenter wp-image-2802 size-large" src="https://wp-blog-assets.coingate.com/2019/03/3-1024x568.png" alt="pay with xrp binance " width="1024" height="568" srcset="https://wp-blog-assets.coingate.com/2019/03/3-1024x568.png 1024w, https://wp-blog-assets.coingate.com/2019/03/3-150x83.png 150w, https://wp-blog-assets.coingate.com/2019/03/3-300x167.png 300w, https://wp-blog-assets.coingate.com/2019/03/3-768x426.png 768w, https://wp-blog-assets.coingate.com/2019/03/3-860x477.png 860w, https://wp-blog-assets.coingate.com/2019/03/3-680x377.png 680w, https://wp-blog-assets.coingate.com/2019/03/3-500x278.png 500w, https://wp-blog-assets.coingate.com/2019/03/3-400x222.png 400w, https://wp-blog-assets.coingate.com/2019/03/3-200x111.png 200w, https://wp-blog-assets.coingate.com/2019/03/3-50x28.png 50w, https://wp-blog-assets.coingate.com/2019/03/3.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></a>Click the “Submit” button, go through the 2-factor authentication and confirm the withdrawal using a link you will get in your email address. You will notice that your payment status has now changed to “processing”, meaning that the funds will be sent shortly. Binance and most other exchanges process XRP transfers very quickly – as quick as every minute, in fact.
As soon as you submit your withdrawal request, return to the merchant’s invoice. Within a few minutes or even less, you will see the invoice update; it is now paid and confirmed.
<a class="keychainify-checked" href="https://wp-blog-assets.coingate.com/2019/03/4-and-6.png"><img loading="lazy" class="aligncenter wp-image-2803 size-large" src="https://wp-blog-assets.coingate.com/2019/03/4-and-6-1024x640.png" alt="xrp payment coingate" width="1024" height="640" srcset="https://wp-blog-assets.coingate.com/2019/03/4-and-6-1024x640.png 1024w, https://wp-blog-assets.coingate.com/2019/03/4-and-6-150x94.png 150w, https://wp-blog-assets.coingate.com/2019/03/4-and-6-300x188.png 300w, https://wp-blog-assets.coingate.com/2019/03/4-and-6-768x480.png 768w, https://wp-blog-assets.coingate.com/2019/03/4-and-6-1240x775.png 1240w, https://wp-blog-assets.coingate.com/2019/03/4-and-6-860x538.png 860w, https://wp-blog-assets.coingate.com/2019/03/4-and-6-680x425.png 680w, https://wp-blog-assets.coingate.com/2019/03/4-and-6-500x313.png 500w, https://wp-blog-assets.coingate.com/2019/03/4-and-6-400x250.png 400w, https://wp-blog-assets.coingate.com/2019/03/4-and-6-200x125.png 200w, https://wp-blog-assets.coingate.com/2019/03/4-and-6-50x31.png 50w, https://wp-blog-assets.coingate.com/2019/03/4-and-6.png 1440w" sizes="(max-width: 1024px) 100vw, 1024px" /></a>
<h2 style="text-align: justify;">How to pay with XRP from a wallet</h2>
If you do not have a wallet that supports XRP, we recommend one of <a class="keychainify-checked" style="color: #ff6600;" href="https://coingate.com/blog/post/best-xrp-wallets-review" target="_blank" rel="noopener">these wallets</a> (or check <a class="keychainify-checked" style="color: #ff6600;" href="https://coingate.com/blog/post/how-to-use-xrp-toast-wallet" target="_blank" rel="noopener">this guide</a> to set up Toast wallet). All wallets offer a similar transaction flow, and we will be using Toast wallet as an example.
Once you are ready to make the transaction, click on the “$” sign. 
Copy the address from your merchant’s invoice and paste it in the “To Address” field. Do the same with destination tag and payment amount, copying the values from the invoice and pasting them in “Destination Tag” and “Amount” fields, respectively. To send the funds, click “Pay” and enter your wallet password.
That’s it! You will see an invoice status change to “Paid and confirmed” shortly.
<a class="keychainify-checked" href="https://wp-blog-assets.coingate.com/2019/03/5.png"><img loading="lazy" class="aligncenter wp-image-2804 size-large" src="https://wp-blog-assets.coingate.com/2019/03/5-1024x629.png" alt="send xrp toast wallet" width="1024" height="629" srcset="https://wp-blog-assets.coingate.com/2019/03/5-1024x629.png 1024w, https://wp-blog-assets.coingate.com/2019/03/5-150x92.png 150w, https://wp-blog-assets.coingate.com/2019/03/5-300x184.png 300w, https://wp-blog-assets.coingate.com/2019/03/5-768x472.png 768w, https://wp-blog-assets.coingate.com/2019/03/5-860x528.png 860w, https://wp-blog-assets.coingate.com/2019/03/5-680x418.png 680w, https://wp-blog-assets.coingate.com/2019/03/5-500x307.png 500w, https://wp-blog-assets.coingate.com/2019/03/5-400x246.png 400w, https://wp-blog-assets.coingate.com/2019/03/5-200x123.png 200w, https://wp-blog-assets.coingate.com/2019/03/5-50x31.png 50w, https://wp-blog-assets.coingate.com/2019/03/5.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></a>
<h2 style="text-align: justify;">Need help with XRP transactions?</h2>
We recommend keeping the invoice open until you see your payment is confirmed. In case your transaction is not detected or confirmed, you may have forgotten to input the destination tag, or have accidentally sent an insufficient amount. 
If this happens, just follow the steps on the invoice to receive a refund or contact our support team for help at support@coingate.com. To get help quickly and efficiently, in any communications, please reference your Order ID and Transaction ID.

Spending XRP online is easy. In this guide, you will learn how to pay for a merchant’s invoice with XRP using either an exchange account or a wallet.

How to sell Bitcoin, Litecoin & other crypto for fiat (EUR, GBP)

Subscribe now

How to swap one cryptocurrency for another on CoinGate

Bull vs. Bear Market: What’s the Difference?

Top cryptocurrencies to buy at CoinGate: The ultimate guide

Subscribe to our Newsletter