Key Takeaways
- Cryptocurrencies are largely unregulated by the Irish Central Bank but are subject to tax laws.
- Crypto ATMs are mostly located in Dublin and Cork, allowing users to convert crypto to cash.
- Over 60% of Ireland’s population is expected to use crypto by 2025.
- Businesses like Noel Dempsey Furniture, Chai-Yo Restaurant, and Seapoint Clinic accept crypto payments.
- Cryptocurrencies are treated as assets in Ireland, with a 33% capital gains tax on profits.
An Overview of Spending Crypto in Ireland
Ireland has long been a leader in tech and finance, so it’s no surprise that cryptocurrency is making a significant impact here. With a strong digital economy and a population that’s quick to adopt new technologies, Ireland has steadily positioned itself as a key player in the global crypto landscape.
This shift is particularly evident among younger generations, who are mostly accustomed to digital payments. As crypto adoption grows, businesses are responding by integrating digital currency into their payment systems.
Establishments such as Seapoint Clinic and Noel Dempsey Furniture now accept Bitcoin, Ethereum, and other cryptocurrencies, reflecting the expanding use of digital assets in everyday transactions.
Interestingly, over 60% of the population will use crypto in some form by 2025. This surge in adoption is driving more cafés, retailers, and service providers to accept crypto payments.
“By 2025, the number of users in the cryptocurrency market in Ireland is projected to amount to 3.17 million users.”
If you’ve ever wondered where you can actually spend your crypto in Ireland, beyond simply trading on exchanges, you’re in the right place. Let’s take a look at some of the best places to spend crypto in Ireland.
Best Places to Spend Crypto in Ireland
| S/N | Best Places to Spend Crypto in Ireland | Category |
| 1 | Noel Dempsey Furniture | Retail and Services |
| 2 | Chai-Yo Restaurant | Food and Drinks |
| 3 | Core Bullion Traders | Trading and Investment |
| 4 | Seapoint Clinic | Health and Wellness |
| 5 | Sinéad Nic Clámha Pilates | Health and Wellness |
| 6 | Trampolines Ireland | Entertainment and Recreation |
| 7 | Birthday Cufflinks Ireland | Jewelry and Accessories |
Noel Dempsey Furniture
Noel Dempsey Furniture specializes in luxury, hand-crafted built-in furniture for high-end interiors, both in Ireland and abroad. With a skilled team of designers and craftsmen, they work with top luxury brands to ensure every detail meets the highest standards.
Now, they’ve made it easier for customers to shop by accepting Bitcoin. This makes it one of the best places in Ireland to spend your crypto on custom-made, luxurious furniture.
Chai-Yo Restaurant
Chai-Yo Restaurant in Dublin is a top-rated destination for authentic Thai cuisine, featuring live Teppanyaki cooking where chefs prepare dishes right at the grill. Known for its fresh ingredients and bold flavors,
Chai-Yo brings the best of Thailand’s culinary traditions to Ireland. With a cozy, welcoming ambiance, it’s the perfect place to enjoy Thai dishes, and now, you can conveniently pay with Bitcoin.
Core Bullion Traders
Core Bullion Traders is a leading provider of precious metals in Dublin, specializing in gold and silver. Known for their reliable services and commitment to quality, they cater to both individual investors and businesses.
Additionally, Core Bullion Traders ensures that clients receive expert advice and access to a wide range of investment options. They also accept cryptocurrencies such as Bitcoin, Ethereum, Litecoin, making it a convenient option for those looking to invest using digital assets.
Seapoint Clinic
Seapoint Clinic, located in Blackrock, Dublin, is Ireland’s premier 5-star dental clinic, providing world-class care to patients from all over the country.
With a highly skilled team, they offer several dental procedures and the clinic uses advanced technology, including lasers for gum disease treatment. The clinic also uses AI software to review X-rays, ensuring the highest standard of care for every patient.
If you are looking to spend crypto here, the clinic now accepts Bitcoin to make payments seamless.
Sinéad Nic Clámha Pilates
Sinéad Nic Clámha Pilates, based in Ireland, provides well-paced and engaging Pilates classes designed to suit all levels. With over a decade of experience, Sinéad has been teaching Pilates since 2012 and is also a qualified yoga instructor and personal trainer.
Her classes focus on strength, flexibility, and overall well-being. This makes them a great choice for anyone looking to improve their fitness in a supportive environment.
The best part about going here is that they now accept Bitcoin payments making your overall experience wholesome.
Trampolines Ireland
Trampolines Ireland is a top online retailer of trampolines and outdoor toys, offering options to suit all budgets, tastes, and sizes. They specialize in high-quality brands like Berg Toys, providing durable trampolines and go-karts for kids.
Additionally, Trampolines Ireland now accepts cryptocurrencies such as Bitcoin and Ethereum. This provides customers with flexible payment options.
Birthday Cufflinks
Birthday Cufflinks, based in Ireland, has been creating unique, handcrafted cufflinks since 2011. They upcycle old Irish coins, preserving their beautiful designs and cultural heritage by transforming them into wearable pieces like cufflinks and pendants.
Now accepting cryptocurrencies such as Bitcoin and Ethereum, Birthday Cufflinks Ireland is a great place to shop for a meaningful and stylish gift.
Tools For Spending Crypto in Ireland
Source: Freepik
Here are tools that can help you when spending crypto in Ireland:
Crypto Cards
Prepaid crypto cards provide an easy way to spend cryptocurrency, just like regular debit or credit cards. You can load these cards with crypto and use them for purchases anywhere traditional cards are accepted.
For example, the UPay card in Ireland allows you to make purchases securely without transaction fees, although there is a 2% fee for ATM withdrawals.
Crypto Wallets
Crypto wallets are another convenient tool for spending your crypto. Many modern wallets enable direct payments, allowing you to pay for goods and services without converting your crypto into traditional currency.
Wallets like UPay streamline the process, letting you spend your crypto easily without needing to exchange it for euros or other currencies.
Crypto Gift Cards
Gift cards are a simple way to use crypto at stores or platforms that don’t directly accept digital currencies. Several crypto platforms and third-party services provide gift cards for popular retailers, making it easy to shop using digital assets.
This option allows crypto holders to convert their funds into everyday purchases without needing merchants to accept crypto directly.
Tips For Spending Crypto in Ireland
Source: Freepik
When it comes to spending crypto in Ireland, there are a few key things to keep in mind to make the experience smooth and hassle-free.
Understand Tax Implications
In Ireland, cryptocurrencies are treated as assets, not money or currency. This means any gains from selling crypto are subject to a 33% capital gains tax.
While investing in crypto isn’t considered a trade by the Irish Revenue, it’s still important to keep track of your transactions. If you make a profit from your crypto sales, be sure to report it when filing taxes.
Be Aware of Regulatory Uncertainty
While crypto is legal in Ireland, it remains largely unregulated, and the Central Bank of Ireland has warned about risks like volatility and fraud. No central authority guarantees or controls cryptocurrency, so spending it carries some risks.
However, upcoming EU regulations (MiCA – Markets in Crypto-Assets) may introduce clearer rules for businesses and consumers.
“Ireland, as part of the EU, is currently in the process of implementing the Markets in Crypto-Assets Regulation (MiCAR) which provides a comprehensive framework for how cryptoassets can flourish within a regulatory perimeter while also providing consumer protections.”
Using Crypto Cards
Prepaid crypto cards, such as UPay, are a convenient way to spend your cryptocurrency just like a regular debit card. These cards allow you to load your crypto onto the card and use it for purchases at retailers that accept traditional debit or credit cards.
Keep in mind that some crypto cards, like UPay, charge a 2% fee for ATM withdrawals. It’s a good option for those looking to spend their crypto without converting it back to euros.
Check Merchant Policies
Before you head to a store or restaurant, make sure to confirm the types of cryptocurrencies accepted. Not all businesses accept the same digital currencies. For example, some businesses, like Noel Dempsey Furniture, only accept Bitcoin.
Therefore, it’s best to check beforehand to avoid any inconvenience. Several merchants in Ireland are adopting crypto payments, but each one may have different rules on which coins they’ll accept.
Challenges of Spending Crypto in Ireland
While crypto adoption is growing in Ireland, using it for everyday purchases still has challenges. Here are some key issues:
Unclear Rules and Regulations
Ireland does not have specific national laws regulating cryptocurrency, and the Central Bank of Ireland (CBI) has repeatedly warned consumers about its risks. While crypto is not illegal, it remains largely unregulated.
Interestingly, Ireland is preparing to draft urgent cryptocurrency regulations in response to upcoming European Union Anti-Money Laundering (AML) and terrorism financing standards.
Finance Minister Jack Chambers confirmed that legislation would be urgently drafted to update crypto regulations ahead of the EU laws taking effect on December 30, 2024.
“It is important that Ireland, as a small, open economy with a thriving financial services industry, actively participates in preventing its financial system from being used for money laundering and terrorist financing purposes.”
Also, the upcoming EU Markets in Crypto-Assets (MiCA) regulation will bring more oversight, but until then, the lack of clear guidelines creates uncertainty for businesses and consumers.
Limited Merchant Adoption
While some businesses accept crypto, the number remains relatively low. Unlike countries with widespread crypto adoption, Ireland’s mainstream retailers and service providers have been slow to integrate digital currencies. Most businesses still prefer traditional payment methods
Consumer Awareness and Education
Many people in Ireland lack a deep understanding of how crypto payments work, leading to hesitation and misinformation.
Concerns about security, fraud, and scams also contribute to slow adoption. Without widespread education on how to securely use and store crypto, many potential users remain skeptical.
“While there are encouraging points in this first annual survey, it’s clear that there’s work to be done in providing Irish people with the knowledge and confidence to own and use digital currencies, as well as DeFi services and Web3.”
High Conversion Costs and Transaction Fees
Many crypto payment solutions require conversion to fiat currency, which often comes with fees. Crypto debit cards, for example, may charge withdrawal fees or currency conversion fees.
Additionally, network transaction fees (gas fees) for blockchain-based payments can be unpredictable and costly.
Price Fluctuations
Crypto prices can change quickly. A Bitcoin payment today might be worth much less (or more) tomorrow. This makes both customers and businesses unsure about using it for everyday purchases.
Conclusion
Cryptocurrency adoption in Ireland is growing, and more businesses are accepting it as a form of payment. From Noel Dempsey Furniture to Chai-Yo Restaurant and Seapoint Clinic, crypto holders can spend their digital assets on a variety of goods and services.
While there are still challenges like tax implications, regulatory uncertainty, and limited merchant adoption, the future looks promising. As more businesses accept crypto, the best places to spend crypto in Ireland will continue to increase.
Frequently Asked Questions(FAQs)
Can I use cryptocurrency for everyday purchases in Ireland?
Yes, while crypto adoption is still growing, several businesses in Ireland accept digital payments. You can spend crypto on luxury furniture, dining, healthcare, and more.
Are there any tax implications when spending crypto in Ireland?
Yes. In Ireland, cryptocurrency is considered an asset, not money. If you sell or spend crypto at a profit, you may be subject to Capital Gains Tax (CGT) at 33%. Businesses accepting crypto must also follow tax regulations.
Are crypto payments legal in Ireland?
Yes, crypto payments are legal, but cryptocurrencies are not regulated or backed by the Central Bank of Ireland. Businesses that accept crypto do so voluntarily.
Can I withdraw cash from crypto ATMs in Ireland?
Yes, crypto ATMs in Ireland allow you to convert cryptocurrency into cash. However, they are not widely available and are mostly found in major cities like Dublin and Cork.
