Yes, you can and we recommend it since we no longer distribute hardware dongles.
The License Server version 5.4.0 (or later) has the ability to migrate your licenses from a dongle to your online Chaos account. Once transferred your licenses will be available to you anywhere and at any time without having to plug the dongle in your machine. You will just have to log in the License Server with your email address and have an Internet connection.
This article provides information on dongle eligibility and a step-by-step guide of the migration process.