What Can Australians Use Cryptocurrency For?


—TechRound does not recommend or endorse any financial practices. All articles are purely informational—

Cryptocurrency has conquered the hearts and minds of people from all over the world. Since 2009, when Satoshi Nakamoto first released Bitcoin, the market has completely changed the global financial industry. And Australia is no different. Cryptocurrency is hitting it big in the country, with more and more people investing in the market. 

What are the Biggest Cryptos in Australia? 

The Australian crypto market is not much different from the rest of the world. Australian traders will notice that the top cryptocurrencies are the same as anywhere else. Bitcoin is, of course, the undisputed champion. Consistently at the top of the market, the first crypto has risen quite considerably in the popular esteem. 

Ethereum is the close second. Created by a team of programmers, helmed by Vitalik Buterin and Gavin Wood, the Ethereum blockchain garnered incredible popularity as the first ever blockchain that allows the storage and trading of non-fungible tokens. Lastly, Tether remains the most well-regarded stablecoin. Paired up with the US dollar, Tether has endured the years and remains in the top three most popular cryptocurrencies.

But, crypto is still relatively new. And though it grows in popularity, many are still unaware what they can use it for. So, in this article, we are going to take a look at what Australians can use cryptocurrency for. 

Online Gambling 

Australia is famous for its deep-rooted gambling culture. The pokies are quite a big draw for many Australians. So understandably, the iGaming industry is thriving in Australia. Online pokies, like the ones found at australiainternetpokies.com, are quite popular. They can be played on PC, smartphone, or any electronic device that you may have. You can browse the hundreds of different slot games, or expand your interest and explore poker, blackjack, roulette, etc. However, did you know that you can also use crypto to gamble? 

Many online gambling sites are now open to taking Bitcoin, or other cryptocurrencies as a viable payment method. The practice of making crypto-deposits is so popular, that crypto-only casinos have begun popping up with increased frequency. So, Australian crypto traders and gambling enthusiasts now have a place where they can have fun, and enlarge their crypto earnings. 

Crypto Trading

The most popular thing that you can do with crypto is trade it for money or more cryptocurrency. The cryptocurrency trading market is one of the fastest-growing and biggest markets in the world today. Comparable to the stock exchange or to forex, cryptocurrency stands tall as a successful asset for trading. 

A ton of websites and applications have launched with the goal of helping newcomers get into the trading business. It is thanks to these tools that newbies can now find easy tutorials that help them better understand the crypto world. And with Australian banks opening up to the idea of cryptocurrency, the crypto market is only expected to grow in the country. 

Purchase Goods and Services

A lot of people believe that cryptocurrency can only be used to purchase goods and services from individuals online. However, this is not exactly true. In the past couple of years, many businesses have opened up to the idea of accepting crypto transactions.

For example, Microsoft, the biggest technological corporation in the world, has opened up to accepting crypto as a viable currency. Elon Musk’s electric car company, Tesla has shown interest in crypto, though they are waiting for the market to “go green.”  

There are quite a lot of Australian businesses that have begun to accept crypto as well. And on top of that, many experts are predicting that in the future, crypto-based transactions are likely to become the norm. 

—TechRound does not recommend or endorse any financial practices. All articles are purely informational—