Cryptocurrency has been around for a little over a decade now. From its first conception, it was initially intended to be a digital currency. Instead of using real cash, or putting out your private details over the Internet, you can use digital currency for your payouts instead. It is only upon the withdrawal of your funds wherein your cryptocurrency is then converted into real cash.
At present, there are many ways for you to use your cryptocurrency. From serious financial dealings, and even to the lightest and most fun transactions, there is a use for every cryptocurrency that you have. That said, here are some of the ways you can use your cryptocurrency to have fun:
1. Purchase A Property
The financial industry is rapidly changing in more ways than you can ever imagine. With this, the real estate market is no exception. To facilitate better trade and transactions across borders, there are now some property brokers and companies that accept cryptocurrencies as payment for a property. In essence, doing so is better than paying in fiat money, because both the buyer and the seller can maximize the most out of their money. With cryptocurrency, you can avoid the differences in the currency exchange rate, taxes, and other deductions that can tend to lower the purchasing value of your fiat money.
Cities such as Dubai and Miami now accept cryptocurrency as payment for any property that you may want to purchase.
2. Earn Money
If you have long been looking for ways to earn passive income, cryptocurrency should be one of your options. One of the best ways for you to earn through cryptocurrencies is through the process known as crypto mining. This refers to the procedure of using computer power to purchase and secure blockchains. In exchange for this, you are given a reward, the amount of which is determined by the computing power of your machine in solving the computational challenge. In layman’s terms, it is as if you are playing a game, and for every problem solved, you earn a reward.
Numerous websites allow you to participate in this kind of cryptocurrency game or cloud mining activity, such as the following:
3. Enjoy Low-Cost Money Transfers
The world is getting smaller by the day. Especially if you are coming from a big family, it shouldn’t come as a surprise to you that some members of your family are in other parts of the world. Because of this, it also isn’t uncommon to have financial transactions across borders. For whatever purpose it is that you are sending money overseas, one of the most common complaints of senders and receivers is in the difference of the currency exchange rates, and the fees that these money-remittance companies will charge. Often, money transfers can be expensive.
With cryptocurrencies, you not only enjoy more accessible means of sending money overseas, but you are also able to enjoy low-cost money transfers. In general, this is to your advantage because you can make the most out of every amount that you send. Digital currencies such as bitcoin, stellar, and litecoin are mostly associated with the lowest fees for international transactions.
4. Pay For Parking
Did you know that you could also pay for your parking with bitcoins? If you do not have extra cash on hand and you left your credit card, there are now some payment terminals that accept bitcoins. Malls, airports, and other parking establishments are now taking this form of payment. If you are a frequent traveler, this can also be very convenient for you.
As you land on a foreign country, if there is anything that you need to purchase in the airport, and you haven’t found a local currency exchange yet, you can pay with bitcoins if their payment portals accept this. Plus, in the same way as the above-mentioned, you can also use your credit cards less, as remember, for every foreign transaction, you are also charged with the value of exchange from your card’s local currency to the one that you are using.
Here are some examples:
In New York City, for instance, you can pay for your parking fees and fines with bitcoins.
In the website CheapAir, you can pay for your airline tickets through bitcoins.
5. Go Shopping!
In previous years, it was the credit card that made shopping transactions easier and faster. If you are out on a major shopping trip, you will no longer have to worry about bringing a substantial amount of cash with you so that you can pay for your goods. Especially in major cities around the world, there are now many retail stores that might accept BTC or bitcoins as payment. But to be very sure, ask around first if they have an available portal for this form of payment.
The same holds true for online transactions. If you aren’t keen on putting out your credit card details over the World Wide Web, you can choose to pay with bitcoins instead.
6. Invest In Businesses
Especially in the world of technology, numerous businesses are popping out like mushrooms. Everywhere you turn, there is a new business out there for you to try investing in. The great thing about these businesses is that because they are still in their early stages of conception and development, they aren’t as expensive as other businesses are. Hence, there is a business investment out there for you.
To make transactions even easier and more enticing, many tech businesses also accept cryptocurrencies as payment. For instance, in the world of cryptocurrencies, there is such a thing as Initial Coin Offerings (ICOs). This is a fundraising activity that provides tech businesses in the early startup stage with the opportunity to grow and increase capital by selling newly created digital tokens.
Opinions about cryptocurrency are still very much divided. While many are still skeptical about it, there is also the more significant majority who have gotten into this type of financial investment avenue that also swear by it. If you have long been thinking about getting into cryptocurrency, then now is the time for you to head along this path. With these many fun uses, and so many more, you will find something useful to do with every cryptocurrency that you have. Just remember, as is with any form of investment, be sure that you have already done a thorough study first and background check of everything that you need to know about cryptocurrencies.