Reading Time: 3 minutes

Payment means (even traditional ones) are increasingly digital. Today, most people prefer options such as credit or debit cards, PIX, or other transfer modalities, instead of carrying banknotes (paper money).

The PIX, by the way, was a hallmark in the country, simplifying the payment system, reducing costs, and mainly introducing the concept of digital money to Brazilians. Moreover, all over the world (including Brazil), central banks are studying the creation of digital currencies.

However, the digital payments universe is yet to evolve despite these advances. For example, it is possible to use cryptocurrencies to make payments on gaming platforms (including the games known as play-to-earn), streaming video or music, and even in standard everyday purchases, online or not.

Crypto market Growth

According to a survey by Visa, a leading global payment company, almost a quarter of small businesses in nine countries plan to accept digital currencies by 2022, while 13% of consumers in these same countries expect retail stores to start offering cryptocurrency payments starting this year.

This survey was conducted with 2.250 small business owners in countries such as the United States, Brazil, Germany, Ireland, Russia, Singapore, and Canada. In Brazil, cryptocurrencies are considered by respondents to be a new frontier in the world of finance.

To do so, there are some alternatives, such as using cards that offer the use of cryptos or buying services directly from the vendor. But what is the advantage of this?

One of the reasons for the growing interest is the global economic situation. Cryptocurrencies, being decentralized (i.e. independent of governments) are seen as a safe way to protect capital against inflationary measures.

According to the study, most holders of cryptoassets in Brazil consider cryptocurrencies a financial innovation. The perception is that they will become commonplace in ten years, and in five years, they could be a helpful tool for sending money to friends and family. Cryptoasset owners also consider it more advantageous to invest in cryptocurrencies than in stocks (71%). In general, engaged consumers see them as a way to build equity and diversify their portfolios.

Why use cryptocurrencies as digital payment?

Undoubtedly, the main reason is that cryptocurrencies tend not to be eroded by inflation, which maintains their user’s purchasing power.

But beyond this, there are other advantages. For example, some crypto cards offer such interesting cashback programs that they are worth using instead of other means of payment.

Moreover, in some cases, the platform selling the services itself encourages the use of crypto. It is worth mentioning the PurpleThrone case, which launched the PurpleCoin platform to remunerate independent artists. It allows new artists to sell and promote their work outside well-known services such as Spotify and Youtube, and their success is rewarded through the distribution of tokens.

Do digital crypto payments in Brazil work?

You may find it strange to go to the bakery and pay for your coffee and some rolls with bitcoin (or another cryptocurrency), but this is already possible in Brazil. Some exchanges have cards (credit or debit) linked to the main credit cards, which allow the user to choose between paying their bills in real or with the cryptocurrency they have in their wallet.

The alternative can be even more attractive for those who travel abroad since the exchange rate has not been favorable to the real. Thus, when making purchases outside the country, the use of cryptocurrencies is a solution to deal with the lag of the national currency and still benefit from lower fees. For those who make international transactions or remittances, cryptocurrencies are the best solution, both for the agility of the transaction, which does not need to wait for the traditional banking deadlines and the low costs.

But even without leaving Brazil, the use of cryptoassets for digital payments is quite interesting. In fact, for product and service providers, this represents a great opportunity. According to a study by, published by MoneyTimes, one in three Brazilians who have not yet invested in cryptocurrencies say they would invest in this type of asset if they had a card that allowed them to make withdrawals from an ATM.

In addition, more than 25% of respondents said they would invest in crypto if they could convert and use these funds to make online or in-person purchases using a card.

Digital payment in crypto is a way with no return

Digital payment is well established, and cryptoasset products may become the best alternative for enabling transactions, both from consumers’ points of view and suppliers of products or services.

The most diverse retail segments are already starting to see cryptocurrencies as a suitable digital payment method, increasing users’ confidence. You will probably be asked whether you prefer to pay your bill by debit or crypto in the near future.