From Financial, to Information, to anything Ledger Driven. There will continue to be more things created and solved with Crypto. It is the new frontier. And with it comes the risks. So be careful out there. Start with a Trusted Crypto or Blockchain Wallet.
There are so many uses for Crypto. And as I write this article and share it, even more ways to utilize the power and options Crypto has to offer are being created. In fact, the more we utilize it and solve issues, the more Problems to Fix are being identified.
We are going to share in some Eye Opening Ways that Uses for Crypto are becoming reality. And some may really shock you, yet the more you understand it the more you are going to “Buy In” on how great this really is for us all.
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🪙 1. Digital Money & Payments
Cryptos like Bitcoin, Ethereum, Litecoin, and USDC are used to send and receive money. It is done quickly and globally. All without the use of a traditional Bank. Here are some of the Uses (examples of them):
- Sending money to friends or family. Local or abroad. Location really doesn’t matter.
- Paying for goods and/or services online. Many, and more all the time are accepting Crypto Payments. There are even Crypto Vending Machines (what would be a Bank Machine, but no Bank is needed). Located in Convenient Stores, Hotels and growing in locations all of the time.
- Avoiding high bank fees or slow transfers. The Crypto world is transforming the expensive and predatory banking fees and inconveniences. The easier, the cheaper and the more secure. This is Awesome really.
🛍️ 2. Online Shopping and Spending
More and more Shopping Services and Platforms accept crypto:
- Several Gift card platforms allowing you to buy Store Credits or Gift Cards (as we all understand them already) with crypto.
- Shopify stores have this as an Option. Merchants can go with it, and it is becoming easier and easier all the time.
- Large Companies such as Microsoft, Newegg, and some VPN services and this is a growing list.
📈 3. Investment & Trading. Something that the Crypto World is only getting Larger and Larger with.
Because it works so well for this, Crypto is showing it is perfect for:
- Buying and holding (known by Crypto Users as HODLing) Bitcoin or Ethereum or other Prominent Crypto and Alt Coins as a long-term investment
- Trading cryptocurrencies for profit (not much different than the trading stocks or forex)
- Using exchanges like Coinbase, Binance, or Kraken to buy/sell/trade.
💸 4. Decentralized Finance (DeFi)
This is Banking Really, only done on the blockchain. Allowing you to:
- Trade on decentralized exchanges. Called (DEXs). Such as one called Uniswap
- Lend your crypto out to be used, and in doing so, you earn interest
- Borrow crypto, by locking up other assets, and then allowing you to utilize the needed or wanted flexibility this offers your financial needs.
🎮 5. Gaming & Virtual Worlds (Web3 Gaming) Note: The blockchain is being referenced as WEB 3.0.
Examples include Games like Axie Infinity or Decentraland and they use and utilize crypto:
- Earn crypto while playing (known as play-to-earn)
- Buy in-game items as NFTs or as In Game used Advantages or Skins or Accessories to the Game
- Own land or characters or special weaponry (and so much more) on the blockchain
🖼️ 6. NFTs (Non-Fungible Tokens)
NFTs are unique digital items (like art or music or data) that you can:
- Buy, sell, or trade (on marketplaces like OpenSea)
- Use in games or in virtual worlds. This is a growing and always developing direction in Crypto.
- Prove ownership of digital assets. And even tied to Physical Assets as this progresses.
Artists, musicians, and creators are using NFTs to get paid directly and to build up more profitability. Ending the “Starving Artist Trends of Old”.
🧾 7. Smart Contracts & Apps (dApps)
Smart contracts are self-executing programs on the blockchain. They are most commonly used for:
- Automating specific agreements or even parts of agreements (e.g., if X happens, then pay Z).
- Running decentralized apps (dApps) like games, lending platforms, investing platforms, social networks, and more coming.
- Creating DAOs (decentralized organizations). These should be looked at with caution, though they have an emergence to allow for the sharing of ideas and concepts.
🏦 8. Stablecoins
Stablecoins (like USDC or USDT) are crypto coins pegged to the dollar. They are commonly used for:
- Avoiding volatility of regular crypto, which is needed for many situations.
- Quick payments or trading as they are utilized in seconds.
- Storing value digitally with low fees as opposed to traditional banking or holding accounts.
🌍 9. Banking the Unbanked
In developing countries primarily, crypto gives people (many of whom were not banked prior) access to:
- Digital wallets without needing a traditional bank
- Cross-border payments with less fees and without time delays that have been several days when not using Crypto
- Protection from local currency crashes (mainly by using stablecoins)
🔐 10. Privacy & Security
Some cryptos like Monero or Zcash to name 2 of several are designed to protect privacy.
Helps protect financial identity and Private Information
Used when users want private transactions and privacy in part of all of the details