TLDR: Starting today, we’re excited to launch a new and improved payment feature on Spritz! Now all Sprites can pay their bills with any crypto on the Polygon network, including Polygon’s native MATIC token. Cash out your on-chain earnings from DeFi yields and play-to-earn games directly towards your monthly expenses in just one step using Spritz.
We first enabled crypto bill payments using stablecoins, such as USDC, USDT, and DAI on the Polygon network. While our early users have paid hundreds of bills so far with stablecoins, we’re excited to unlock more ways to seamlessly make payments with any token of their choosing.
We’ve worked hard these past couple of months to bring this feature back to Spritz with the highest Web3 security measures in place. In just the first few days, we’ve seen bill payments being made with a variety of tokens from MATIC to WBTC, and many more.
You can use Spritz to pay your IRL bills with any crypto on Polygon in just a few seconds. Once you’ve connected your wallet and bill-pay accounts, setting up the payment is quick and easy. Here’s how to do it:
Sit back and enjoy all of the time you saved!
What are the benefits for paying with any token?
What happens when I pay a bill with a non-stablecoin asset?
When you pay your bills with other tokens instead of stablecoins there is an added step on our end. We take the maximum amount that might be needed to facilitate the swap from crypto to fiat using a 5% slippage fee, and then return any that might be left over to your wallet once the transaction is complete. Think of it like setting the slippage tolerance when you use a decentralized exchange.
Will I pay more in taxes when paying with a non-stablecoin?
We can’t give definitive tax advice as we’re not your accountant or tax expert, but using Spritz will limit the amount of swaps you’ll have to do in order to pay your bills with your crypto. When you use any token to pay your bills through Spritz you’re only swapping once, so it could potentially mean you even pay less in taxes later on! We recommend you talk to a tax expert, though. Read more about crypto taxes on our blog here.
Can I still make payments with stablecoins?
Of course!
Spritz makes it easier than ever to pay bills with any crypto on the Polygon network. Having to move assets from a wallet onto an exchange just to be able to off-ramp them into your bank account is a daily pain point for anyone active in DeFi. You can sign up to the Spritz beta from here to get early access.
By minimizing the time you’ll spend moving things around, you can take that time back to do whatever you want—like go to the beach or learn a new hobby.
Right now we're on the Polygon network, but soon it might be even easier to pay your bills with crypto from your favorite blockchain network! 😉
Let us know what you do with your saved time in Discord.
Cheers!
