Crypto Spending

Is using cryptocurrencies for everyday spending a good idea?

Cryptocurrencies have shot into the public consciousness in recent years. The changing value of certain coins, coupled with celebrity usage has catapulted crypto stories into the mainstream news. Consequently, more people than ever own and use major cryptocurrencies such as Bitcoin and Ethereum, looking to make good on their investments.

As cryptocurrency ownership has become more common, the options open to crypto-using customers are becoming concurrently commonplace. Increasingly, companies and stores are looking into allowing customers to pay for goods with cryptocurrencies, rather than the standard money in any given part of the world.

But which companies allow you to spend your crypto coins, and is it really worth it? As the value of cryptocurrencies is so volatile, your bargain purchase one day could transpire to be a disastrous transaction as the value of your coin changes.

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The biggest companies that accept crypto payments

1

Amazon

$469.8 billion

2021 Revenue

2

AT&T

$168.86 billion

2021 Revenue

3

Microsoft

$168.09 billion

2021 Revenue

4

Home Depot

$150 billion

2021 Revenue

5

Dell

$86.67 billion

2021 Revenue

Company/Charity Name

Company Revenue (2021) ($)

Company Revenue (2021) (£)

Crypto value changein the past 24 months

The majority of the top-performing cryptocurrencies today have increased in value in the past two years, with the average increase amongst the twenty best coins being 51.35%. The most popular cryptocurrency, Bitcoin has increased by 58.41%, from just over $9,000 per coin to over $21,000.

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Coins that have increased in value the most

Solana has seen the biggest increase in value in the past two years, rising in value by over $25, a rise of almost 98%. Dogecoin has seen the second biggest rise (95.4%), and Polygon the third (95%).

1

Solana

(SOL)

$0.61

June 2020 Value

$26.39

June 2023 Value

97.69%

Value Increase

2

Dogecoin

(DOGE)

$0.00

June 2020 Value

$0.05

June 2023 Value

95.42%

Value Increase

3

Polygon

(MATIC)

$0.02

June 2020 Value

$0.41

June 2023 Value

94.98%

Value Increase

Coins that have increased in value the least

Only two of the coins have decreased in value over the past two years, which reflects the rise in the strength of the cryptocurrency market in that time period. The three worst-performing coins are all stablecoins meaning they are pegged to the value of another currency (in this case US dollars). Therefore there is only a slight change in their value over time either way, Tether has had the biggest drop, as it is worth 0.46% of what it was two years ago.

1

Tether

(USDT)

$1.00

June 2020 Value

$1.00

June 2023 Value

-0.46%

Value Increase

2

USD Coin

(USDC)

$1.00

June 2020 Value

$1.00

June 2023 Value

-0.09%

Value Increase

3

Binance USD

(BUSD)

$1.00

June 2020 Value

$1.00

June 2023 Value

0.03%

Value Increase

KEY Rank Crypto Currency Currency Code Current Price Price 1 year ago June 2021 to June 2023 Price Change Price 2 years ago June 2020 to June 2021 Price Change June 2020 to June 2023 Price Change

Crypto value changein the past 12 months

Whilst prices of cryptocurrency have been growing in recent years, the past twelve months have seen a crash in the market, as many coins have seen their value tumble throughout 2023. Bitcoin is an example of this, the flagship cryptocurrency has lost almost 70% of its value and has dropped from $40,000 to $24,000 at the time of writing, it almost got to $70,000 in November 2021 at its peak. On average, the value of the top 25 coins dropped by 117.41%, and only six of them increased in value over the year.

Coins that have increased in value the most

UNUS SED LEO is the cryptocurrency that has seen the biggest increase by far in the past 12 months, increasing by over 48% from $2.88 to $5.34. Shiba Inu rose by 11.83%, and NEAR Protocol by 10.76%.

1

Unus SED LEO

(LEO)

$2.77

June 2021 Value

5.34

June 2023 Value

48.15%

Value Increase

2

Shiba Inu

(SHIB)

$6.78E-06

June 2021 Value

$7.69E-06

June 2023 Value

11.83%

Value Increase

3

NEAR Protocol

(NEAR)

$3.17

June 2021 Value

$3.55

June 2023 Value

10.76%

Value Increase

Coins that have increased in value the least

The decrease in value across the entire cryptocurrency market has been felt worse by some coins than others. The top two worst performing (Uniswap, and Dogecoin) have seen their values slash by over 500% each. Chainlink had the third biggest decrease, as its value dropped by 273%.

1

Uniswap

(UNI)

$23.41

June 2021 Value

$3.64

June 2023 Value

-543.89%

Value Increase

2

Dogecoin

(DOGE)

$0.33

June 2021 Value

$0.05

June 2023 Value

-505.69%

Value Increase

3

Chainlink

(LINK)

$23.86

June 2021 Value

$6.40

June 2023 Value

-272.86%

Value Increase

KEY Rank Crypto Currency Currency Code Current Price Price 1 year ago June 2021 to June 2023 Price Change

How much could your crypto be worth today?

Using the recorded value of cryptocurrencies, we’ve created the following calculator so that you can discover how much the crypto you used for purchases could be worth if you held onto it.

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The value of the crypto on the date of your purchase was

xxx

The value of crypto today would be worth

xxx

The maximum value of the same amountof crypto at the coin’s peak value was

xxx on 00/00/000

Methodology

Companies that trade in crypto were found using various articles and lists.

We then ordered them by the size of their company revenue in 2021.

CoinMarketCap was used to source the value of each coin as of June 13th 2023, as well as 2020 and 2021.