A cryptocurrency is a digital form of currency that is not issued by any centralised figure. All cryptocurrencies work through distributed ledger technology, typically through a blockchain. Now more than ever, crypto is gaining massive popularity, due to which many people started investing in it.
You may be hereafter you heard one of your colleagues started mining cryptocurrencies. Before investing in crypto, you must know its value and where you can spend this new earned currency. Or, if you already possess cryptocurrencies like Bitcoin, this article will help you find the most astonishing uses of cryptocurrencies today.
1. Cryptocurrencies can be used at online casinos
Cryptocurrency has been gaining everyone’s trust and attention lately. With such increased popularity, many online casinos have now permitted cryptocurrencies for gambling transactions, as seen on top10-casinosites.net. Punters can spend Cryptocurrency just like any other currency (such as Euros, Dollars, etc.) in a Crypto Casino. In fact, crypto is now being preferred over traditional currencies because they are more accessible, faster, and cheaper due to the non-involvement of banks in the transaction.
Here is a list of the best crypto casinos that we’ve gathered for you:
- Casino Friday
- King Billy
- 7 Bit Casino
- 7 signs casino
- Bit Starz
- Fortune Jack
2. By using Cryptocurrency, you can save money and time
Imagine a scenario where you have to transfer 50 million us dollars; how much time do you think it will take? Now let us make that transfer international. You can imagine how much time and transaction fee it would cost you to transfer that much money.
But with Cryptocurrency, you can save that time and money. You could make that transfer of 50 million US Dollars within seconds and with just a fraction of that vast transfer fee!
Here is a list of crypto which can help you save time and money cause of their low fees associated with transactions:
- Litecoin (LTC)
- Stellar (XLM)
- Bitcoin cash (BCH)
3. Crypto can be used for anonymous transactions
Privacy is one of the topmost priorities of cryptocurrencies such as Monero (XMR), Zcash (ZEC), and PIVX (PIVX). These privacy-centric digital currencies enable their users to successfully perform a private transaction while being anonymous the whole time.
In simple terms, it means that the user won’t have to explain to anyone anything about the money transfer, no matter how big the sum is. Generally, when you use your bank to transfer a large sum of money, they as various questions and make your simple transactions go through different security checklists, which makes the transaction slow. By using crypto, you can make these big or small transactions without you having to explain to others spending your own money.
4. Using crypto, you can preserve your money
We all know how inflation works. If your grandpa had saved $100 80 years ago, it wouldn’t sum to a significant amount of money in the present. This happens due to the government of a country. The government prints more money over time which tends to decrease the purchasing capacity of the customers, on the whole.
But if we use cryptocurrencies like Bitcoin, Ethereum, Dogecoins, etc., we can keep the inflation at bay. It is possible with cryptocurrencies because the cryptosystem was created with the sole motive in mind to make the currency finite. This limits the possibilities of creating more currency with time. Thus the risk of inflation is absolute zero! Using this feature of cryptocurrencies can save money for your great-grandkids, and it won’t lose its value over time due to inflation.
5. Use crypto to travel the world!
As we just talked about how crypto has shaken the world with its exponential growth and popularity. With time crypto has been accepted by many countries around the globe. Countries like Morocco, Nigeria, Namibia, South Africa, Zimbabwe, Mexico, United States, etc., have permitted cryptocurrencies to exchange various goods and services.
Besides that, many travel agencies such as CheapAir, BTC Trip, Destinia, etc., accept Cryptocurrencies such as Bitcoin, DogeCoin, etc., for a world tour. With these travel agencies, you can book anything that ranges from a flight to food using cryptocurrencies.
6. Use crypto coins to fuel up your car
Who doesn’t love long drives on an empty freeway? While blasting the music in your car with your friends, your car might get low on fuel. But when you reach a gas station for fuel, you can either pay like others who are slow and always low on cash or you can pay smart and fast using your crypto coins. Companies like CoinFuel allow you to buy gift cards with your Cryptocurrency, and you can redeem those gift cards for fuel very quickly.
7. Enjoy shopping with your Cryptocurrency
You can now spend your Cryptocurrency, such as bitcoins for shopping. Shopping with bitcoin was for a long time, but recently the shopping industry giants have witnessed the vast acceptance of crypto worldwide and its worth. Due to these now significant companies like:
- Starbucks, Whole Food Markets
- New Egg
- Lolli, Home Depot
- Tesla (Temporarily not accepting)
- Fast Food Joints (like-Burger King, Pizza Hut, KFC, Taco Bell, The Habit Burger Grill, etc.)
are accepting cryptocurrencies in exchange for their products or services. They either directly accept the crypto coins or partner up with some third-party company that help them convert the crypto coins into traditional currencies.
8. Buy your dream car with it!
Who doesn’t dream of driving his very own supercar? Well, it can come true if you own some bitcoins! You can buy a Lamborghini with 10 Bitcoins. You can buy this and other luxury products with bitcoins and other cryptocurrencies by vising websites like Delouvois. You can also buy a self-driving Tesla car with Bitcoins. Unfortunately, Tesla is not accepting cryptocurrencies temporarily due to environmental reasons, but experts say that they will soon start accepting crypto coins from customers for a car.