Spend On SOL: Real World Crypto Usage

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11 Nov 2024

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Cryptocurrency can be risky due to market volatility and lack of regulation. Use reputable platforms, avoid emotional trading, and only invest what you can afford to lose. Be cautious and remember, not your keys, not your crypto.
Scams and Rugpulls put to the side for a moment, one of the most common complaints about crypto is the perception regarding its real-world utility and usage. It’s pretty common to hear that there’s no use case for it, or that converting it into goods and services can be a painful process. And while that might have been true over the past years, in 2024 there’s a myriad of ways that you can spend, earn and use your crypto for real-world purchases.
In today’s article, we’ll be looking at some of these spending options. And, while the article title is Spend on SOL, the reality is, that you have a much broader choice of tokens for spending depending on the provider you choose. Let’s check it out!

Payment Options

While there are a number of different ways to complete the on/off ramp process one of the easiest ways to spend crypto can be by using a virtual credit card. These providers will use a payment provider to supply the card and will typically use stablecoins to ensure that the card isn’t subject to extreme market fluctuations. Typically, this is one of the easiest ways to use your crypto. It’s also one of the most convenient, as you can often add your virtual card to Apple or Google Pay.
Another option relies on using direct transfer. Typically, this means using something like PayID to ensure your crypto is able to be sent quickly and easily with minimal risk of errors. Depending on the type of payment you are trying to make, you might find this to be an easier option.
Direct conversion is one of the other commonly found options available. This uses a provider like Paypal to convert crypto to USD (or in reverse) before the account holder can use it as a payment source wherever PayPal is accepted.
So, there are plenty of options available for you to spend should you choose to. The more difficult option can often be finding the provider that works best for your circumstances.
There are some restrictions will SOLCARD so it’s worth knowing what you want ot use the card for. Source: solcard.cc

SOLCARD

Powered by Solana, SOLCARD aims to make on-chain spending easier than ever before. The process is extremely simple. Once you’ve signed up, you’ll simply send your tokens directly to your SOLCARD deposit address. Once completed, your funds will be applied to your account and be available for spending.
And, in a world full of KYC mandatory CEX’s it might surprise you to know that SOLCARD has a KYC free tier available to users. While you are subject to restrictions should you take this option, it’s still a quick and easy way to get started spending your crypto.
SOLCARD also has a revenue-sharing program. SLC token holders that hold a pre-determined number of tokens are able to access income via the fee pool. So not only can you spend your crypto, you can also earn some back as well.
Use this link to sign up with Solcard.

KAST App

Similar to SOLCARD, KAST provides a similar service where users are able to pair their crypto with virtual credit cards that have real-world utility. Except KAST has one unique twist. Currently, their KAST token has not yet been launched however KAST points are available to be earned.
This means that any purchases, referrals or top-ups will earn a share of KAST points which will be converted to the native token upon airdrop launch. Expected to occur in 2025, new users have plenty of time to get spending and start stacking points. An even better perk that comes from stacking points is a guaranteed conversion rate each season for all purchases as well.
KAST doesn’t just accept Solana either. You can use Polygon or Ethereum should you wish, meaning that there’s less hassle with bridges and getting started.
While nothing in crypto should ever be taken for granted, the points deal is worth exploring depending on your tolerance for risk.
Signup for KAST using this link

RelayPay

Slightly different to the other providers in this article rather than using virtual credit cards to help you spend, Relaypay uses a number of different methods to help process payments. Primarily an Australian-based platform, Users are able to use their crypto to purchase gift vouchers and send payments via both Bpay and Bank accounts.
This includes payments to international accounts using the receiver's SWIFT number for fast and easy payment.
With a well-thought-out user interface, Relaypay is fast and easy to get started with and is a good option for those looking to make regular payments without the limitations that virtual cards often come with.
Join Relaypay with this link

Things To Remember

Like many Web 3 technologies, payment using cryptocurrencies is still pretty new all things considered. Because of this, it’s worth understanding that in some instances, you may encounter problems while trying to process a payment. This could be due to the card, issues with the network or even problems with the payment providers.
So it’s a good idea to understand the limitations you might encounter while using your platform of choice as ultimately that's one of the things that will help define your user experience.
Another thing to consider is the concept of fees and how they are charged for any given service. Like anything financial, there’s a myriad of fine print to review and within that fine print are all the details about fees, risks and platform conditions.
While you’d expect to pay for a service the reality is that fees between providers can differ significantly so it pays off if you’re willing to do your research. Being aware of these fees before you start is the best way to avoid any surprises.
Now, get out there and start spending!
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