Source: Freepik
Key Takeaways
- India was ranked first in the 2024 Chainalysis Global Cryptocurrencies Adoption Index with over 100 million crypto investors
- Indian businesses are adopting cryptocurrency to attract tech-savvy customers.
- Popular categories for crypto spending in India include online shopping, home decor, and food and dining.
- Crypto debit cards, payment platforms, wallets, and gift cards are popular tools for spending crypto in India.
- Cryptocurrencies in India are classified as Virtual Digital Assets (VDAs) and are subject to a 30% tax on profits.
An Overview of Crypro Spending in India
Cryptocurrencies are no longer just investment tools; they are gradually transforming into a legitimate medium of exchange. They are redefining how people transact, offering benefits like speed, transparency, and lower fees compared to traditional payment methods.
Businesses in India are not being left out of the trend of accepting crypto for payments. They are gradually adopting crypto payments to meet the demands of their growing user base. India currently has more than 100 million crypto investors. According to Statista, the number of crypto users in India is projected to grow to 107.30 million by 2025.
“The user penetration rate, which indicates the percentage of the population using cryptocurrencies, is expected to be 7.35% in 2025”
India was also ranked first in 2024 by the Chainalysis Global Cryptocurrencies Adoption Index ahead of Nigeria.
Crypto-friendly businesses are making it easier for enthusiasts to spend their digital assets. For instance, Highkart became one of the first e-commerce platforms in India to accept Bitcoin in 2014, while Ardor 2.1, a popular restaurant in New Delhi, has embraced crypto payments to attract tech-savvy diners. Beyond convenience, spending crypto opens up new opportunities for users to leverage their digital assets without converting them into fiat currencies.
This article explores the best places to spend your cryptocurrency in India. With these options, you can make the most of your digital assets, enjoying both convenience and the benefits of crypto transactions.
Read Also: Understanding Withdrawal Limits on Crypto Debit Cards
Best Places to Spend Crypto in India
Source: Freepik
| S/N | Best places to spend crypto in India | Category |
| 1. | HighKart | Online Shopping |
| 2. | Pizza Palace | Food and Dining |
| 3. | Andor 2.1 | Food and Dining |
| 4. | The Rug Republic | Home Decor |
| 5. | Suryavanshi Restaurant | Food and Dining |
Online Shopping
Highkart
HighKart was the first e-commerce platform in India to accept Bitcoin as its sole payment method in 2014. It was founded by Delhi-based entrepreneur Amit Kumar.
The store offers over 150 products, including digital currency mining equipment and fashion accessories. Shoppers can purchase gadgets, accessories, and clothing using cryptocurrencies.
Home Decor
The Rug Republic
The Rug Republic is a sustainable floor fashion brand that accepts the top 20 cryptocurrencies by market capitalization as payment for its handmade Indian rugs, pouffes, and accessories.
The Rug Republic currently uses WazirX and Binance for peer-to-peer crypto transfers and plans to create an in-house cryptocurrency payment system. To pay with cryptocurrency, buyers must contact the company through a link on its website
Food and Dining
Ardor 2.1
Ardor 2.1 in Delhi is the first Indian restaurant to accept cryptocurrency as payment.
While Ardor 2.1 serves a variety of global cuisines, its specialty is the thali—a platter featuring multiple dishes, popular across India.
The restaurant allows guests to order the Digital Thali directly from the restaurant’s digital menu with crypto. The Digital Thali is a unique version of their meal, specifically designed for cryptocurrency payments.
Pizza Palace
Pizza Palace is a Gujarat-based pizza chain that has been accepting Bitcoin since 2017. This makes it one of the first merchants in India to adopt cryptocurrency payments.
The restaurant’s official Facebook page features a post celebrating its first customer who purchased a pizza with Bitcoin.
Suryawanshi Restaurants
Suryavanshi Restaurant, located in Indiranagar, allows customers to pay bills using Bitcoin. Its Whitefield outlet also supports Bitcoin payments. The restaurant accepts payments via Bitcoin wallets such as Coinsecure, Unocoin, and Zebpay.
Popular Tools for Spending Crypto
Source: Freepik
Here are some of the most popular tools used for spending crypto in India:
Crypto Debit and Prepaid Cards
Crypto debit and prepaid cards are one of the most popular and convenient tools for spending cryptocurrency. These cards work like regular debit or credit cards, allowing users to load their cards with cryptocurrencies and spend them anywhere that accepts traditional payment cards.
A good example is the Upay crypto card. It is available to users in various countries and allows you to spend Bitcoin, Ethereum, and other supported cryptocurrencies.
Crypto Payment Platforms
These platforms allow users to make payments in crypto by integrating directly with online and offline merchants. They bridge the gap between cryptocurrency and traditional retail systems, enabling businesses to accept digital currencies without dealing with the complexities of blockchain transactions.
Crypto Wallets
Crypto wallets are essential tools for storing and spending cryptocurrency. Some wallets allow users to directly pay for goods and services using crypto, while others facilitate the conversion of crypto to fiat for easier transactions.
Crypto Gift Cards
For users who want to spend their crypto at popular retailers or on platforms that don’t directly accept digital currencies, gift cards provide an easy solution. Many crypto platforms and third-party services now offer gift cards for popular e-commerce sites and stores, allowing users to purchase products using their digital assets.
Tips for Spending Crypto in India
Source: Freepik
Check for Tax Implications
In India, cryptocurrencies are not classified as legal tender but the Indian government officially recognized cryptocurrencies by categorizing them as Virtual Digital Assets (VDAs). They also implemented a specific taxation framework for these assets.
As a result, you’ll pay a 30% tax on profits from trading, selling, or spending cryptocurrency. Additionally, a 1% Tax Deducted at Source (TDS) is applicable for transactions exceeding ₹50,000 in a financial year.
It’s important to maintain accurate records of all your crypto transactions, including dates, amounts, and values at the time of purchase and sale.
Use Secure Wallets
Wallet security is very important when conducting any cryptocurrency transactions.
“In 2024, funds stolen increased by approximately 21.07% year-over-year (YoY) to $2.2 billion, and the number of individual hacking incidents increased from 282 in 2023 to 303 in 2024”
This underscores the importance of robust wallet protection. Use secure wallets like UPay to protect your funds. Upay’s advanced security measures offer reliability and protection for your cryptocurrency.
Avoid sharing your wallet’s private keys and always keep your recovery phrase in a secure, offline location. Regularly updating wallet software and using secure networks for transactions can further safeguard your funds.
Understand Transaction Fees
Transaction fees can vary widely depending on the blockchain network. Wallets like Binance or Trust Wallet often display these fees before confirming transactions. Some wallets also allow users to customize fees, offering faster processing for higher fees or slower processing for lower fees.
Knowing these costs in advance helps you manage your spending and avoid paying excessive amounts for minor transactions.
Confirm Merchant Policies
Not all merchants accept crypto directly; some rely on third-party payment gateways. These platforms may add processing fees or impose limitations on refunds. Before transacting, verify the merchant’s policies, including accepted cryptocurrencies, exchange rate locks, and refund procedures.
For example, a merchant accepting Bitcoin might refund your payment in INR at the current exchange rate rather than returning the original Bitcoin amount, which could lead to a financial loss due to volatility. Always confirm these details, especially for high-value purchases, to avoid disputes or misunderstandings.
Challenges of Spending Crypto in India
Source: Freepik
While spending cryptocurrency in India offers exciting possibilities, it comes with challenges that require careful navigation. Here are some of the challenges:
Volatility
Cryptocurrencies are known for their price fluctuations. For instance, Bitcoin’s value got to an all-time high of $108,135 in December 2024, however, it traded at $96,407 in the first week of January 2025.
Such volatility discourages its use as a medium of exchange. Merchants may lose profits if crypto values drop post-transaction, while buyers risk overspending if values rise unexpectedly. Stablecoins like USDT and USDC pegged to the value of fiat currencies, can mitigate this issue for day-to-day transactions.
High Tax
India’s 30% tax on crypto profits is one of the highest globally. Coupled with the 1% TDS on transactions, these rates make crypto less attractive for regular use. For comparison, countries like Germany and Portugal impose no taxes on crypto held for more than a year, encouraging adoption.
High taxes in India can deter businesses from accepting crypto and discourage individuals from spending their digital assets. Lobbying for more favorable tax policies and clear guidelines could help boost crypto usage in the country.
Lack of Clear Regulation
India’s regulatory stance on cryptocurrencies remains uncertain. While the government recognizes crypto as a taxable asset, it has not yet provided a comprehensive legal framework. This ambiguity creates hesitation among businesses and consumers alike.
A clear regulatory framework, like the ones established in countries such as Japan or Switzerland, can provide the necessary confidence for wider adoption.
Fear of Scams
Fear of scams and fraud remains a significant barrier.
“India reportedly lost over $44 million in digital asset scams in 2024, ranking fifth globally. It recorded about 840 complaints related to digital assets.”
These incidents discourage people from engaging with crypto, especially when it comes to spending. However, Upay’s security features provide peace of mind while you transact. UPay has top-tier security features including encryption of their communications with SSL and requiring two-factor authentication for all sessions.
Read Also: Top 5 Cryptocurrency Apps in India for 2025
Conclusion
The use of cryptocurrency in India is expanding beyond investments into everyday transactions. Businesses across various industries are integrating crypto payments, offering consumers more options to utilize their digital assets. From e-commerce sites like Highkart to restaurants such as Ardor 2.1, the range of crypto-friendly establishments continues to grow.
However, challenges like price volatility, high taxes, and regulatory uncertainty highlight the importance of informed decision-making. Users must stay updated on tax rules, choose secure wallets, and carefully evaluate merchant policies to ensure safe and efficient transactions.
FAQs
Spending crypto is legal, but cryptocurrencies are classified as Virtual Digital Assets (VDAs). They are not recognized as legal tender but are subject to specific taxation rules.
Yes. India imposes a 30% tax on crypto profits and a 1% TDS for transactions exceeding ₹50,000 in a financial year. It is important to maintain detailed records of your transactions.
Popular tools include crypto debit cards (e.g., Upay), crypto payment platforms, wallets, and crypto gift cards for retailers that don’t directly accept digital currencies.
Bitcoin (BTC) is the most widely accepted. Some merchants also accept Ethereum (ETH), USDT, and other top cryptocurrencies.
Many businesses advertise their acceptance of cryptocurrency on their websites or at checkout. You can also check crypto directories or inquire directly with the business.
