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.

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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

As an additional service, CoinGate provides a platform for traders to sell the most popular cryptocurrencies for Euros with a single payment.
<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>
Selling cryptocurrencies on CoinGate is pretty straight-forward and hassle-free. Once you <a class="keychainify-checked" style="color: #ff6600;" href="https://dashboard.coingate.com/register" target="_blank" rel="noopener">create an account</a> and <a class="keychainify-checked" href="https://coingate.com/blog/post/verify-trader-account-guide">verify your identity</a>, go to your account dashboard and select the “Trader->Sell” menu section.
<h2 style="text-align: justify;">How do I sell cryptocurrency at CoinGate?</h2>
Currently, CoinGate allows selling 9 digital assets: Bitcoin, Litecoin, Ether, Bitcoin Cash, Nano, TRON, Dai, USDS and BTT.
In the first section, choose the cryptocurrency from the provided list and enter the amount that you wish to sell. When done, further down you’ll see all the amounts calculated. 
Then click the “+Add Euro payout address” button that will pop up. This happens only once when you sell digital assets on CoinGate for the first time.
<figure id="attachment_4047" aria-describedby="caption-attachment-4047" style="width: 1671px" class="wp-caption aligncenter"><a class="keychainify-checked" href="https://wp-blog-assets.coingate.com/2019/04/CoinGate-sell-btc-eur.png"><img loading="lazy" class="wp-image-4047 size-full" src="https://wp-blog-assets.coingate.com/2019/04/CoinGate-sell-btc-eur.png" alt="sell btc eur" width="1671" height="519" srcset="https://wp-blog-assets.coingate.com/2019/04/CoinGate-sell-btc-eur.png 1671w, https://wp-blog-assets.coingate.com/2019/04/CoinGate-sell-btc-eur-150x47.png 150w, https://wp-blog-assets.coingate.com/2019/04/CoinGate-sell-btc-eur-300x93.png 300w, https://wp-blog-assets.coingate.com/2019/04/CoinGate-sell-btc-eur-768x239.png 768w, https://wp-blog-assets.coingate.com/2019/04/CoinGate-sell-btc-eur-1024x318.png 1024w, https://wp-blog-assets.coingate.com/2019/04/CoinGate-sell-btc-eur-1240x385.png 1240w, https://wp-blog-assets.coingate.com/2019/04/CoinGate-sell-btc-eur-860x267.png 860w, https://wp-blog-assets.coingate.com/2019/04/CoinGate-sell-btc-eur-680x211.png 680w, https://wp-blog-assets.coingate.com/2019/04/CoinGate-sell-btc-eur-500x155.png 500w, https://wp-blog-assets.coingate.com/2019/04/CoinGate-sell-btc-eur-400x124.png 400w, https://wp-blog-assets.coingate.com/2019/04/CoinGate-sell-btc-eur-200x62.png 200w, https://wp-blog-assets.coingate.com/2019/04/CoinGate-sell-btc-eur-50x16.png 50w" sizes="(max-width: 1671px) 100vw, 1671px" /></a><figcaption id="caption-attachment-4047" class="wp-caption-text">The standard trader fee is 3% but can be lowered if registered via referral link!</figcaption></figure>
You’ll be redirected to the SEPA payout option screen but there’s also an option to select the international bank transfer. However, note that we send international bank transfers with a 1% (min 90 Euros) fee deducted from the amount sent, due to the fact this is what our banking provider charges for the service. 

To add Euro (SEPA) payout option, fill in the empty fields:
First, choose a title for your payout option. It will help you distinguish a particular payout option from all others that you have already created, or will create in the future. 
Next, proceed with the rest: name of a bank account holder (important: the owner of a bank account has to be the same as the account holder’s at CoinGate), name of a bank you’re transferring your funds to, as well as bank SWIFT code and bank account number (IBAN).
<a class="keychainify-checked" href="https://wp-blog-assets.coingate.com/2019/03/sell-btc-3.jpg"><img loading="lazy" class="aligncenter size-large wp-image-2817" src="https://wp-blog-assets.coingate.com/2019/03/sell-btc-3-1024x380.jpg" alt="sell crypto on coingate" width="1024" height="380" srcset="https://wp-blog-assets.coingate.com/2019/03/sell-btc-3-1024x380.jpg 1024w, https://wp-blog-assets.coingate.com/2019/03/sell-btc-3-150x56.jpg 150w, https://wp-blog-assets.coingate.com/2019/03/sell-btc-3-300x111.jpg 300w, https://wp-blog-assets.coingate.com/2019/03/sell-btc-3-768x285.jpg 768w, https://wp-blog-assets.coingate.com/2019/03/sell-btc-3-1680x624.jpg 1680w, https://wp-blog-assets.coingate.com/2019/03/sell-btc-3-1240x461.jpg 1240w, https://wp-blog-assets.coingate.com/2019/03/sell-btc-3-860x319.jpg 860w, https://wp-blog-assets.coingate.com/2019/03/sell-btc-3-680x253.jpg 680w, https://wp-blog-assets.coingate.com/2019/03/sell-btc-3-500x186.jpg 500w, https://wp-blog-assets.coingate.com/2019/03/sell-btc-3-400x149.jpg 400w, https://wp-blog-assets.coingate.com/2019/03/sell-btc-3-200x74.jpg 200w, https://wp-blog-assets.coingate.com/2019/03/sell-btc-3-50x19.jpg 50w, https://wp-blog-assets.coingate.com/2019/03/sell-btc-3.jpg 1860w" sizes="(max-width: 1024px) 100vw, 1024px" /></a>
Finally, click on the “Add new payout option” button. You will immediately receive a payout setting confirmation request to your email address. Once you confirm the payout option, you will be able to select it when selling cryptocurrencies.
<h2 style="text-align: justify;">Trade cryptocurrencies and become an affiliate</h2>
If you are trading cryptocurrencies often, we offer an opportunity to <a class="keychainify-checked" style="color: #ff6600;" href="https://coingate.com/blog/post/referral-affiliate-program">join our trader affiliate program</a> and earn in the process.
If you are a registered user, you can create referral links that allow receiving up to 1% of the fees paid by traders who registered using it. The referrer can also choose to receive less than 1% and, as a result, referred customers will also pay lower fees than usual. Herewith, the referrers will get a percentage of total payments that the referred customer makes.
<a class="keychainify-checked" href="https://wp-blog-assets.coingate.com/2019/03/referral.jpg"><img loading="lazy" class="aligncenter size-large wp-image-2818" src="https://wp-blog-assets.coingate.com/2019/03/referral-1024x236.jpg" alt="coingate referral link" width="1024" height="236" srcset="https://wp-blog-assets.coingate.com/2019/03/referral-1024x236.jpg 1024w, https://wp-blog-assets.coingate.com/2019/03/referral-150x35.jpg 150w, https://wp-blog-assets.coingate.com/2019/03/referral-300x69.jpg 300w, https://wp-blog-assets.coingate.com/2019/03/referral-768x177.jpg 768w, https://wp-blog-assets.coingate.com/2019/03/referral-1240x285.jpg 1240w, https://wp-blog-assets.coingate.com/2019/03/referral-860x198.jpg 860w, https://wp-blog-assets.coingate.com/2019/03/referral-680x156.jpg 680w, https://wp-blog-assets.coingate.com/2019/03/referral-500x115.jpg 500w, https://wp-blog-assets.coingate.com/2019/03/referral-400x92.jpg 400w, https://wp-blog-assets.coingate.com/2019/03/referral-200x46.jpg 200w, https://wp-blog-assets.coingate.com/2019/03/referral-50x12.jpg 50w, https://wp-blog-assets.coingate.com/2019/03/referral.jpg 1421w" sizes="(max-width: 1024px) 100vw, 1024px" /></a>
You can create the referral links via your CoinGate dashboard under the “Trader/Referrals” section. 
Just so you know, we produce content like this at least once a week. If you enjoy reading our articles, feel free to subscribe to our blog! Just enter your email address down below, and you will get a notification each time we release something new!

Selling cryptocurrencies on CoinGate is straight-forward and hassle-free. Learn how to sell Bitcoin and more coins in this step-by-step guide.

How to sell Bitcoin, Litecoin and other cryptos for Euros (2021)

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 and other cryptos for Euros (2021)

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