Cryptocurrencies in today's era can be defined as the digital representation of value.
They are not yet issued or regulated by any central bank.
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| Five Clever Ways to Use Cryptocurrency: eAskme |
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However, they can be stored, transferred, or traded electronically, but no public authority is involved in their transactions.
You may not know it, but the popularity and adaptation of crypto increase by the day, and the size of the blockchain technology market worldwide has become 1.2 billion USD.
Looking at that figure, you may be thinking, where could the digital currency be utilized?
Well, fret not; we're here to explain the five clever ways you can use cryptocurrency.
So, let's get started.
Paying for Services and Goods:
When cryptocurrency was invented, people had little to no idea of the use cases of crypto.
Back then, crypto was only viewed as a virtual asset to purchase, hold, and sell at the right time to get profit.
However, as the world moved forward and became more advanced, the acceptance of crypto increased all around the globe, and it transformed into a legitimate form of payment in exchange for services and goods.
These services and goods even include everyday groceries and supplies.
Not just that, but you also have the liberty to make payments at your favorite restaurants, coffee shops, and fast food chains.
To top it off, it is also possible to pay for accommodation at various hotels and travel via different airlines.
While some companies like Tesla may accept direct crypto transactions, most won't. However, that's not a reason to worry, as you can purchase gift cards and redeem them in-store or online.
Gaming:
Playing video games is one of the best ways to relax and have recreational time.
Not just that, but it is also said that gaming helps in releasing stress as well.
You can do gaming on different platforms such as PlayStation, Xbox, and PCs.
However, despite the platform you're playing on, you will be required to purchase the game first.
After buying the game, some people get so involved that they even wish to make in-game purchases of different things such as game characters, etc.
If you're one of the gaming enthusiasts as well, the good news is that you can purchase games and even make in-game purchases using your crypto wallet.
The process is relatively simple and only requires you to buy the relevant gift cards and redeem them.
Convenient Local and International Transactions:
Most individuals today rely on conventional ways of sending and receiving money.
These traditional methods comprise local and international bank transfers or third-party private remittance service providers.
Even though the money is transferred successfully, these parties demand your personal information such as your name, address, contact details, etc.
Other than that, since these service enterprises run during business hours only, the transactions are not done instantly, and inevitable unwanted delays are also faced.
Not just that, these service providers may also charge you a hefty transfer fee.
That said, cryptocurrency serves as the sole solution to all such problems.
Transferring money to any part of the world is quite simple, as you need to access a digital wallet on your smartphone or computer.
Neither does it require you to enter a load of personal details, nor does it cut additional transaction fees. To top it off, these transactions are blazing fast and can be made anytime you want.
Supporting Charities:
You may not know it, but Bitcoin makes supporting charities relatively easy.
Many cryptocurrencies, such as Bitcoin, are recognized as a reliable means for donations and relief contributions.
The primary reason behind this is that tracking these transactions and ensuring they reach the target audience is quick and efficient.
Unicef, Red Cross, Autism Speaks, and Save the Children are some organizations that accept direct crypto funds.
Giving It As A Gift:
Since the adoption of virtual currency is increasing by the day and it's becoming more popular, one clever thing you can do with it is to give it as a gift to your loved ones.
You can provide crypto as a gift in numerous ways.
One of the common ways is by having a digital wallet where it can be stored and utilized.
You might not be able to purchase things with crypto a while back, but now it's all possible, either by direct crypto payments or by purchasing gift cards with crypto and redeeming them.
Conclusion:
Bitcoin grows in demand and popularity with time, and its use cases also increase daily.
The ones listed above aren't all, and there are still loads of uses for bitcoin.
Undoubtedly, cryptocurrency still has a long way to go, and knowing where to use it can be beneficial for all crypto holders out there.
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