Bitcoin is on the move.
I don’t just mean that the price is moving and it will be going bull soon – which I think it will. I’m talking about cryptos moving up in the world as far as being a part of standard knowledge. Over the last few years, cryptos have gained household popularity, but many although they had heard of Bitcoin and a few other cryptos, didn’t really know what they were. Now, more and more people have a deeper understanding of cryptos and how blockchain technology can change the game for many industries – thus adding value to the crypto markets.
You have probably seen the basic articles showing what you can buy with cryptos, but it’s all just shopping websites like overstock .com. So, what are the best ways to use BTC and other cryptos in 2020 and 2021, let’s look at a couple of real-world scenarios.
Online casinos and sportsbooks have always been a target for hackers. Not only is there a ton of money funneled through those types of sites, but they have databases replete with user information. Not only you deposit amounts and frequency, but addresses, phone numbers, emails, and verification information that goes along with banking info to transfer funds. Basically everything they need to either sell you info on a list to marketers or steal your identity.
Bitcoin and the blockchain are making sports betting into a much secure experience. This is because of the semi-anonymity of cryptos. Instead of using your banking information, you just use your BTC address and any information attached to it is heavily encrypted. So, if a hacker breaks into the database of the site you use, they only get your name, transaction, history, and BTC address, instead of your actual banking information … because you never entered your banking info.
On top of this, transactions are exponentially faster. Before, you had to wait for everything to be manually verified thought the sportsbooks, banks, and other 3rd parties. With cryptos, the verifications and validations happen on the blockchain and it takes about 12 minutes instead of two days.
Since we are talking about security, let’s talk about digital data-trails. You leave a trail every time you use the internet, this is especially true while browsing on your phone. We don’t tend to go incognito as much and don’t have full proxy servers, VPNs, or Virtual Machines set up on our cell phones. So how are we compromised? It isn’t like you are probably thinking. You might be thinking that every time you trade your personal information for content, ei., filling out those form fields with your email address for that free eBook or whatever, that the website seels your info. Usually, that’s not the case. It’s your ISP.
Your internet service provider is basically looking over your shoulder. Since they are the ones hosting your online experience they can track your movements whether you agree to cookies or not. In some situations it goes a step further, depending on the country you are in. Some places the main telecommunications company is actually a government entity, so they are able to see your history and block content or provide you with the content they want you to see.
Enter cryptos. Orchid is a new peer-to-peer privacy tool that is powered by cryptos. You buy Orchid crypto coins and use them on the Ethereum network to prepay for your Orchid VPN service at a super affordable rate. It’s kind of like a ride-sharing app but for your internet connection. So, when you want a completely private connection, you pull out your phone and connect to the Orchid app. It then selects the best bandwidth seller. The app drives your connection for you, making it impossible for your ISP to track your online movements so your digital data trail is hidden and your privacy protected.
What’s the difference between this and a traditional VPN? Well, it’s a fulltime thing. You play a monthly service fee no matter how little you use it. On top of this, you have to really trust that VPN because they have your original (none blockchain secure) info and act as your ‘driver’ all the time, so they see exactly where you are going and can sell that info if they want (sometimes they do). Which crypto-powered security, it’s all encrypted from the get-go and you have different drivers, so nobody ever gets the full picture. You can even string together multiple providers in a single session!
These are just a couple of ways really cool, real-word ways you can use Cryptos in 2020 that you may not have been aware of.