Most internet users will have heard of cryptocurrency, a relatively new method of digital payment, and be aware of some of its uses. Cryptocurrency has many advantages over regular currency as it does not rely on external banks to make transactions, therefore making payments harder to trace and increasing security. However, many people might not be aware of the weird and wonderful things that cryptocurrency can be used for, so let’s take a look.
1. Get Paid for Creating Internet Content
It’s not uncommon to stumble across influences and content creators making money online and think, ‘I could do that.’ With the rise of cryptocurrency, these dreams are made even more attainable. That’s because many sites, such as Steemit and Publish0x will pay creators who contribute to their site in cryptocurrency. Giving people the opportunity to write articles, or publish social media content, and get paid in the process.
2. Use a Crypto Casino
Gone are the days when a punter needs to visit a brick-and-mortar casino to feel the rush of the game. Now, there are hundreds of online casinos offering traditional and much-loved games through only the click of a mouse. However, with the prevalence of hacks and data leaks many people have fears about signing up to online casinos and parting with their personal information to wager and withdraw funds. This is where using non-KYC casino sites saves the day. Non-KYC (Know Your Customer) casinos are online casinos that do not require their users to verify their identity when they sign up or make and withdraw payments. Therefore gamblers can keep their information private and secure and still wager and withdraw their winnings through cryptocurrency.
3. Buy a Sports Car
Some people think that cryptocurrency can only be used for digital transactions and doesn’t result in material gain, but the truth is that you can buy just about anything with cryptocurrency, including a sports car! With many big companies such as Amari and Tesla now accepting various types of cryptocurrency as payment for their cars, there really isn’t much that these kinds of currency can’t buy.
4. Buy a House (or a Yacht)
Yep, that’s right, large payments that can be made with cryptocurrency don’t end with fancy cars. Cryptocurrency can even be used to make payments on a home. Not all estate agents are comfortable with cryptocurrency yet, but many in the US are, and as the popularity of cryptocurrency grows, this number is only going to increase.
5. Earn Interest
Much like funds left in a bank, people can earn interest on the cryptocurrency they have saved. This can be done through several methods, one of which is yield farming. Yield farming works much like a bank, where individuals can deposit their funds into a pot that is then distributed to others seeking a loan. Those who have lent aim to gain a higher return by either being paid for their contribution to the pot, or by making interest on the funds they stake or hold in their own account.
6. Book a Flight
As cryptocurrency becomes more and more popular, more and more companies have begun to accept it as a valid form of payment, and this includes airlines. There are now certain airlines, such as Airbaltic and Travala that accept cryptocurrency as payment for flights. Not only that, but several third-party companies such as Alternative Airlines work to bridge the gap between cryptocurrency and the airlines that don’t usually accept crypto payment, meaning you can use crypto to pay them, and then they will pay the airline you wish to book flights with, with a currency they accept.
Wrapping up
Cryptocurrency was created in 2009, with Bitcoin being the first, and since then it has rapidly grown in popularity. As we’ve explored, there are many things that cryptocurrency can be used for and many that we weren’t able to address in this article. It’s impossible to predict what the future looks like for cryptocurrency, but its popularity and usage are sure to grow. Perhaps one day, crypto will become an acceptable method of payment for all online transactions.
