Many South Africans are now using cryptocurrency for everyday shopping, not just investing. A survey shows that 52% of crypto users in South Africa buy regular items with digital money.
With about 5.8 million users, South Africa is among the top 20 crypto markets worldwide. People there can now use crypto to purchase groceries at Pick n Pay stores, luxury sneakers, wine tours in Cape Town, and even cosmetic procedures.
More businesses are accepting crypto payments, making it easier for customers to spend their digital currency. If you’re interested in where you can shop with crypto, this guide will help you.
Key Takeaways
- 52% of crypto users in South Africa use digital currency for everyday purchases, not just investments.
- South Africa ranks among the top 20 global crypto markets with approximately 5.8 million users.
- Pick n Pay, with over 2,000 stores nationwide, now accepts Bitcoin payments via Lightning Network.
- InUWell became one of the first healthcare providers to accept Bitcoin payments in July 2024.
- The South African Travel Desk accepts six different cryptocurrencies for booking tours and travel experiences.
| S/N | Best Places to Spend Crypto in South Africa | Categories |
| 1 | InUWell | Healthcare |
| 2 | Pick-n-pay | Retail |
| 3 | South African Travel Desk | Travel and tourism |
| 4 | Takealot.com | Retail |
| 5 | Egifts | Giftcards Dealer |
InUWell
Source: Inuwell
Category: HealthCare
Supported Cryptos: Bitcoin (BTC).
In July 2024, InUWell announced its new payment option, allowing customers to pay for wellness services using cryptocurrency.
This makes InUWell one of the best places in South Africa to spend crypto while prioritizing health and wellness. By scanning a QR code with CoinPay, clients can easily use their digital assets for treatments focused on longevity and rejuvenation.
Pick-n-Pay
Read Also: Best Places to Spend Crypto in Greece
Source: Pick-n-Pay
Category: Retail
Supported Cryptos: Bitcoin (BTC).
Pick groceries and pay with Bitcoin at Pick n Pay. The popular grocery store now allows customers to buy essentials using Bitcoin, making it easier for people to use crypto for everyday purchases.
With over 2,000 stores accepting Bitcoin payments, shopping with crypto is now simple and convenient.
Customers just scan a QR code using a Bitcoin Lightning-enabled app like BlueWallet or Muun, accept the Rand conversion rate, and complete the payment in seconds.
South African Travel Desk
Source: South African Travel Desk
Category: Travel Agency
Supported Cryptos: Bitcoin (BTC), Bitcoin Cash, Ethereum, Paxos, Gemini USD, Euro Coin
Based in Cape Town, this family-run tour operator makes it easy to book incredible experiences across Southern Africa.
From breathtaking safaris to scenic coastal getaways, they create customized travel packages for visitors from all over the world.
What’s even better? They accept crypto payments through Coinpay, making it simple and secure to pay with digital currency.
Takealot.com
Read Also: Best Places to Spend Crypto in Nigeria
Source: Takealot.com
Category: Retail
Supported Cryptos: Bitcoin (BTC).
As one of the largest online shopping sites in South Africa, Takealot.com is a great place to spend cryptocurrency. The company started accepting Bitcoin in 2014 after customers requested it.
They partnered with the BitX exchange and PayFast to make crypto payments possible.
This means shoppers can buy a wide range of products using Bitcoin, from clothing and gadgets to food and beauty items.
Egifts
Source: Egifts
Category: Gift Cards Dealer
Supported Cryptos: Bitcoin, XRP, Ethereum, and USD Tokens.
They offer a wide range of eGift Cards for different retailers and products, making it easy to shop for yourself or send a gift to someone else.
The store is run by eGift Solutions (Pty) Ltd., a company with over 10 years of experience in digital prepaid codes.
Customers can pay with Bitcoin and other cryptocurrencies through Bitpay, which calculates rates based on market averages.
Challenges of Spending Cryptocurrency in South Africa
Cryptocurrency offers exciting possibilities for financial transactions, but spending it in South Africa comes with several unique challenges.
Limited Merchant Acceptance
Very few physical stores in South Africa accept cryptocurrencies directly. This means crypto holders often need to convert their digital assets to rand before making everyday purchases, adding an extra step to transactions.
Volatility Concerns
The value of cryptocurrencies can change dramatically within short periods. This price instability makes both merchants and customers hesitant to use crypto for regular transactions, as the value might significantly change between the time of agreement and settlement.
Banking Restrictions
Some South African banks have been cautious or even hostile toward cryptocurrency transactions. Users may face challenges connecting their crypto wallets to traditional banking services or experience account closures if banks flag crypto-related activities.
Security Worries
Concerns about hacking, scams, and fraud make many South Africans cautious about cryptocurrency transactions. Without the protection mechanisms of traditional banking, users worry about the security of their digital assets.
Tips for Spending Crypto in South Africa
If you want to spend your crypto safely and easily, here are some tips to help you.
Be Aware of Transaction Fees
When making crypto payments, check the transaction fees. Some networks, like Bitcoin, have higher fees when the network is busy. Using Lightning Network or other fast blockchains like Solana or Polygon can help you save on fees.
Know the Legal Rules
Crypto is legal in South Africa, but you may have to pay tax on it. The South African Revenue Service (SARS) treats crypto as an asset, so any profits you make from spending or trading could be taxed. Keep records of your transactions to stay compliant.
Stay Safe from Scams
Crypto payments cannot be reversed, so always double-check before making a payment. Avoid deals that seem too good to be true and only buy from trusted sellers. Use wallets with strong security features like two-factor authentication (2FA).
Consider Stablecoins for Stability
If you are worried about price changes in crypto, consider using stablecoins like USDT or USDC. These coins are linked to the US dollar, so their value doesn’t change as much as Bitcoin or Ethereum. Some businesses accept stablecoins as payment.
Conclusion
From Pick-n-Pay to Egifts, more businesses in South Africa are making it easier to pay with cryptocurrency.
Whether you’re buying food, planning a trip, or getting a health treatment, you can now use Bitcoin and other digital currencies at several stores.
With more shops accepting crypto, spending it is becoming more simple and more practical for everyday needs.
Frequently Asked Questions
In South Africa, you can spend cryptocurrencies by using platforms that facilitate crypto payments for goods and services. Some merchants accept direct crypto payments, while others utilize third-party services to process transactions.
UEEx is considered the best cryptocurrency exchange in South Africa, offering access to hundreds of digital currencies at the lowest trading fee (0.09%).
Trust Wallet is a widely used mobile wallet in South Africa, known for its ease of use and support for various cryptocurrencies. It allows users to manage multiple assets on the same platform and supports web3, enabling engagement with decentralized applications.
