Cryptocurrency is one of the hottest topics on the internet right now. With the value of cryptocurrencies increasing every day, more and more investors are showing interest in purchasing crypto. As many seasoned investors know, trading is not the only use case of cryptocurrencies.
Unlike other digital assets, cryptocurrencies have several uses in a vast array of fields. The current use cases include everything from enterprise software to torrent downloads. In this article, we’ll explore some of the best use cases of crypto available in the market.
Cryptocurrency Use Cases
1. Trading and Staking
This is the most popular use case for any cryptocurrency. Many new investors only participate in trading and staking the coins to gain more profits. Trading a cryptocurrency can be done in several ways. The easiest way is to exchange it for a different cryptocurrency. For instance, many people exchange their USDT for either BTC or ETH.
Staking is somewhat similar to trading. In staking, you stake your coins to gain rewards once the project is done. If you find the right coin to stake, the rewards could be in thousands of dollars. Staking is not available on all cryptocurrency platforms. Even though the companies decide where to launch their tokens, many new tokens are starting the staking phase on Binance.
Shopping with cryptocurrency has been a dream for crypto investors ever since they entered the market back in the early 2010s. This dream was made true by Paypal. You can use PayPal to pay with cryptocurrency when you’re shopping. This new way of shopping makes the whole process much more accessible and convenient.
Even though not many international corporations are accepting crypto, several local retailers and restaurateurs recognized the potential in crypto and started accepting crypto payments during the final years of the last decade.
Do you know that you can use cryptocurrency to donate to someone and make the world a better place? Several cryptocurrency communities like Dogecoin and Ethereum have come forward to help the underprivileged by using their crypto.
Recently, some cryptocurrencies have been developed specifically to enable donations to noble causes. One of those cryptocurrencies is Paws. Paws helps people from all over the world in contributing to animal shelters and adoption houses through a centralized platform. Even though it is still in its initial stages, it has already started to attract some diamond hands.
You can use cryptocurrencies like Ether to develop a project on their blockchain networks. If you’re a blockchain developer who wants to get in on the action, crypto is the way to go.
New cryptocurrencies are also introducing a platform for developers to build on. Cardano Ada is another prominent blockchain platform.
5. Tipping and Gaming
Almost all popular streamers on the internet accept tips in cryptocurrency. If your favorite streamer is streaming, you can head on there and tip them some crypto as a token of your gratitude.
Several NFT games allow you to spend some crypto to gain NFTs. NFTs, or Non Fungible tokens, are deemed pretty valuable, depending on the rarity of the collection.