—TechRound does not recommend or endorse any financial products or investments. All content is purely informational—
Cryptocurrencies are misunderstood, but they have so much potential and many uses, a lot of which we have not even conceived yet. Cryptocurrencies provide an alternative digital payment option that is convenient, fast and, best of all, anonymous. You can mine or buy cryptocurrencies and once you do, there is a lot you can do with it. In today’s article, we are going to focus on some ways you can use this digital currency online.
Investment Vehicle
The way many people think about investing in or with cryptocurrencies is buying when the price goes down, holding, and then selling when the price goes up. This is not new as it is how stock markets and investments in general work. However, crypto is being used to buy investments. Instead of holding the crypto, investors use it to buy stocks, real estate, bonds, and other investment vehicles.
Very few people know that crypto can be used to buy precious metals. These metals include appreciating metals like gold and silver which have proven to be very lucrative investment options. Some platforms let users trade their cryptocurrencies against the value of these metals.
This type of investment is set up like day trading and has been very lucrative. One caveat here is to always research any investment vehicles or options before putting your money in them because many of them are riskier than you might be comfortable with.
E-commerce
The volatility of cryptocurrencies has stopped a lot of ecommerce businesses from accepting crypto. Now that it is maturing, more ecommerce businesses are open to accepting bitcoin. Many of them have already set up cryptocurrency wallets and are working with exchanges to accept and hold cryptocurrency. Crypto has become so widely accepted that it is now possible to buy almost anything using cryptocurrency. People have been buying groceries and furniture, and many car companies are starting to warm up to the idea of accepting stable cryptocurrencies as payment for electric vehicles.
Playing Casinos Games
Online casino games have become increasingly popular as people look for alternatives to traditional mobile and PC games. There have always been traditional methods of depositing money to and withdrawing money from online casinos such as using debit and credit cards or through direct bank transfers. Now, online casinos are increasingly accepting crypto as a deposit and withdrawal option.
The features inherent to crypto make it very attractive for casinos and players. For players, there is no need to give out personal information and there are no verification processes to deal with. Both players and casinos also benefit from quick transfer times and low transaction costs.
To give their players options and ensure they are using the payment methods most convenient to them, online casinos like Stake.com offer traditional payment methods alongside their crypto options. If you are looking to play using crypto, do check out this Stake.com review to see the games they offer and learn everything there is about this online casino. You can play at online casinos for fun as well.
Supporting Charities
It is always a good feeling when you help a charity and know you have impacted the world positively or have changed someone’s life. Bitcoin donations are now accepted by various charities including the Red Cross. Additionally, some charities that accept crypto will not help you deduct your donation from your taxes even though it was made in crypto as long as you do not make an anonymous donation.
The biggest advantage crypto has over other forms of giving is how fast money can get to the people in need. Donors can bypass the charities in their country, directly giving to the charities and people that need the donation fast. By doing so, the charity or recipient gets more money as a result, and all this happens with little delay or red tape to think about.
Paying for Travel and Stay
Almost all airlines and hotels now accept online payments. Some of them are starting to accept cryptocurrency as a form of payment. For those that do not, there are various services to help you exchange your crypto for fiat cash airline tickets or hotel stays in real-time. These apps act as the facilitator, and you only have to use your wallet to pay for whatever you need.
With how much promise and the potential it has, it is likely that we will pay for most things if not everything using crypto in the future. For now, you can explore the various ways of using your crypto online.
—TechRound does not recommend or endorse any financial products or investments. All content is purely informational—
