Key Takeaways
- Crypto spending in Belgium is gaining traction but remains niche due to limited merchant adoption.
- Crypto debit cards make it easy to spend digital assets, even at non-crypto merchants.
- Stablecoins reduce volatility and are a practical option for everyday transactions.
- Regulatory uncertainty deters widespread adoption for both merchants and consumers.
- High taxation on crypto transactions reduces its appeal for casual spending.
- The EU’s MiCA regulation is expected to foster more confidence and usage in Belgium.
An Overview of Crypto Spending in Belgium
Read Also: Best Places to Spend Crypto in Italy
Source: Freepik
Crypto acceptance among businesses in Belgium is limited. A small number of retailers and service providers accept Bitcoin and other cryptocurrencies as payment. Most of these businesses cater to tech-savvy customers or operate in niche markets.
Crypto spending in Belgium is mostly facilitated through intermediaries. Tools like Crypto debit cards, provided by platforms like UPay, enable users to spend their crypto at any business that accepts traditional cards. Stablecoins, known for their price stability, are also gaining traction as a spending option in Belgium.
Belgium lacks a robust regulatory framework for cryptocurrencies, affecting both merchant’s and consumer’s adoption. This regulatory uncertainty limits the appeal of crypto for everyday spending.
The European Union’s Markets in Crypto-Assets (MiCA) regulation, which took effect in 2024, is expected to bring more clarity and confidence to Belgium’s crypto market. As regulations become clearer and more businesses embrace crypto, spending opportunities will likely expand.
Best Places to Spend Crypto in Belgium
| S/N | Best places to spend crypto in Belgium | Categories |
| 1. | Osteria Romana | Food and Drink |
| 2. | Dolle Mol | Food and Drink |
| 3. | Freitshop Deluxe | Food and Drinks |
| 4. | Seety | Parking Space |
| 5. | Mobile Vikings | Telecommunications |
| 6. | Voodoo Village | Events |
Restaurants and Cafés
Food and drinks are among the most popular uses for cryptocurrencies, and Belgium is no exception. A growing number of restaurants and cafés now accept digital assets, offering customers a modern way to enjoy their meals and beverages.
Osteria Romana
Osteria Romana is a restaurant located at Avenue Legrand 11, 1000 Brussels, Belgium. The restaurant specializes in Roman cuisine, offering dishes such as Roman-Jewish deep-fried artichoke and carbonara pasta. The Italian restaurant has adopted cryptocurrency payments.
Filippo La Vecchia, the restaurant’s manager, stated, “Luxury brands such as Gucci already offer the payment method in their stores in the US, Paris, London, and Milan. Last month, The Yard festival in Vilvoorde also accepted payments in crypto coins for the first time.”
While cryptocurrencies are still uncommon in Belgium, La Vecchia notes,
“Credit and bank cards remain the most popular,” but he doesn’t rule out the possibility that crypto may replace them in the long term.
Dolle Mol
The Dolle Mol, established in 1969, is a cultural café located at Rue des Éperonniers 52, 1000 Brussels, near the Grand Place. The café offers a selection of products from local microbreweries.
It also serves as a hub for artistic and cultural activities, hosting exhibitions, conferences, film screenings, and concerts featuring Brussels artists.
They also have begun accepting cryptocurrencies for payments.
“The café has to move with the times,” said Grégoire, one of the bar’s owners. “Cryptocurrencies like Bitcoin are the money of the future. We want to give everyone the opportunity to buy a pint with this new payment method.”
Frietshop Deluxe
Frietshop Deluxe, located in Wetteren, Belgium, is known for its traditional Belgian fries served in various sizes. Popular menu items include the “Julientje” and a range of snacks like frikandels and viandels. They also offer burgers, pasta dishes, and vegetarian options. Customers can order online through their website for added convenience.
According to a tweet from the restaurant, the restaurant welcomes cryptocurrency payments, specifically XRP.
Services
But in Belgium, what can we buy with cryptocurrencies except for food? Beyond dining, various services, including parking and telecommunications, are embracing crypto payments, providing convenient options for digital asset holders.
Seety
Seety is a free mobile application designed to help users save time and money on parking, fuel, and electric vehicle charging
This digital parking startup allows users to pay for parking tickets with cryptocurrency in Antwerp and Brussels.
Users can use cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, Dogecoin, and Litecoin, as well as stablecoins like Dai (DAI) and USD Coin (USDC)
Mobile Vikings
Read Also: Best Places to Spend Crypto in India
Mobile Vikings is a Belgian telecommunications provider offering mobile and internet services at competitive prices. They are one of the first companies to adopt cryptocurrency payments in Belgium.
Hans Similon, Chief Viking Evangelist, explained,
“As innovation is part of the DNA of Mobile Vikings, we are the first telecom company to introduce a payment option with bitcoins worldwide.”
Events and Festivals
Cryptocurrencies are also making their mark in the entertainment industry. In Belgium, events and festivals are beginning to incorporate digital payments, adding a tech-savvy twist to cultural and social gatherings.
Voodoo Village and The Yard
Voodoo Village, Belgium’s popular end-of-summer festival, has introduced cryptocurrency payments at its events. This includes three open-air sessions under the name The Yard.
“For the very first time, festival-goers will have the opportunity to use a fast-lane – not insignificant – created especially for ‘crypto-owners’ to pay for their drinks on site with their smartphones,” The organizers.
The organizers have partnered with BIT to accept Bitcoin, Bitcoin Cash, Dai, Doge, Ethereum, Litecoin, and USDC.
Tools for Spending Crypto in Belgium
Source: Freepik
Crypto Debit Cards
Crypto debit cards are a convenient way to spend Bitcoin and other cryptocurrencies. They work like regular debit cards but draw funds directly from your crypto wallet instead of a bank account. These cards automatically convert crypto to local currency during transactions, allowing merchants to accept payments without needing specialized equipment or knowledge. Upay offers crypto debit cards that support seamless transactions at any Visa or Mastercard-accepting merchant.
Crypto Wallets
Crypto wallets enable direct peer-to-peer (P2P) payments, making crypto spending fast, global, and accessible. These transactions are especially popular among freelancers and small businesses due to low transaction fees and instant payments. P2P payments allow users to send funds anywhere in the world without intermediaries, offering flexibility and simplicity in cross-border transactions.
Crypto ATMs
Crypto ATMs allow users to buy and sell Bitcoin and other cryptocurrencies using cash or bank cards. In Belgium, these ATMs are located in cities such as Brussels, Antwerp, and Ghent, providing easy access for crypto enthusiasts to manage their assets. These ATMs support various cryptocurrencies, ensuring a straightforward experience for users looking to exchange crypto into euros or vice versa.
Tips for Spending Crypto in Belgium
Source: Freepik
Use Stablecoins
Stablecoins like USDT, USDC, and DAI are pegged to traditional fiat currencies and they offer a consistent value. This reduces the risk of price volatility associated with cryptocurrencies like Bitcoin and Ethereum. For example, if you plan to purchase goods or services, stablecoins ensure that the value of your payment remains stable between the time of transaction initiation and completion. Additionally, many merchants accepting crypto are more comfortable with stablecoins due to their predictable value.
Use a Crypto Debit Card
Crypto debit cards, such as those offered by Upay, allow you to spend cryptocurrency easily. These cards convert crypto into fiat currency at the time of purchase, enabling you to shop at any business that accepts traditional debit cards. This eliminates the need for merchants to directly accept crypto while still allowing you to use your digital assets.
Use Secure and Reliable Wallets
A secure and reliable wallet is essential to protect your funds from theft or loss. Hardware wallets like Ledger or Trezor offer offline storage, making them highly secure against hacking. For frequent transactions, use trusted mobile wallets such as UPay Wallet, which balance security and convenience. Always enable two-factor authentication (2FA) and keep your private keys or seed phrases safe. Choosing a wallet that supports stablecoins and integrates with crypto debit cards can streamline your spending experience.
Monitor Market Rates
Cryptocurrency prices can change drastically within minutes. Monitoring market rates is crucial to ensure you’re spending crypto at a favorable time. For instance, if the value of Bitcoin is rising, you might wait to complete a transaction to maximize its purchasing power. Conversely, if prices are dropping, acting quickly could help you avoid losses. Many wallets and exchange apps also offer real-time price alerts to help you stay informed.
Stay Updated on Regulations
Cryptocurrency regulations in Belgium are evolving. Staying informed about legal changes helps you comply with tax requirements and avoid potential penalties. Follow updates from the Financial Services and Markets Authority (FSMA) and European Union directives, as these often impact how crypto can be used and taxed. Joining local crypto communities or following advocacy groups can also keep you informed about any changes affecting crypto transactions in Belgium. Awareness of regulations helps you make informed decisions when spending crypto, ensuring smooth transactions and legal compliance.
Challenges of Spending Cryptocurrency in Belgium
Source: Freepik
Cryptocurrencies are growing in popularity, but using them for everyday transactions in Bulgaria comes with significant hurdles. Here are some of the key challenges:
High Tax
Belgium imposes significant taxes on cryptocurrency transactions. Capital gains on crypto investments are taxed at 33% for individuals if deemed speculative, while professional traders face even higher rates. This makes spending crypto less appealing compared to traditional fiat transactions.
Lack of Regulations
Belgium lacks clear regulations surrounding cryptocurrency usage. This creates uncertainty for businesses and consumers. Merchants may hesitate to accept crypto due to unclear compliance requirements, while consumers risk navigating an unpredictable legal framework.
Volatility
The price of cryptocurrencies can fluctuate rapidly. This makes it difficult for merchants and consumers to agree on fair transaction values. A purchase worth €100 in crypto today could lose value by tomorrow. This volatility makes it challenging to use crypto for everyday purchases.
Conclusion
Spending cryptocurrency in Belgium is an evolving experience. A small but growing number of businesses, from restaurants to telecom providers, now accept crypto payments, signaling progress in adoption.
While crypto adoption remains limited, innovative tools like debit cards and wallets have made it easier to use digital assets for purchases.
However, challenges like high taxes, unclear regulations, and price volatility continue to restrict widespread use. These issues deter many businesses and consumers from fully embracing crypto as a payment method. Stablecoins offer some relief by providing price stability, and events like Voodoo Village show how crypto payments can enhance customer experiences in niche settings.
The upcoming implementation of the EU’s MiCA regulation is likely to change the landscape. With clearer rules, more businesses may adopt crypto, creating a broader range of options for spending. As the market matures, the integration of crypto into daily life could become a more realistic prospect.
FAQ
Yes, some restaurants, cafés, and services accept crypto. Crypto debit cards like UPay also make spending easier.
Bitcoin, Ethereum, and stablecoins like USDT and USDC are the most commonly accepted.
Yes, crypto ATMs are available in cities like Brussels, Antwerp, and Ghent for buying and selling digital assets.
Capital gains are taxed at 33% for speculative transactions, and professional traders face higher rates.
While crypto is not legal tender, spending is allowed under existing financial regulations.
