Any bettor knows that Nascar odds serve Nascar betting games, but how many people actually know of the different ways cryptocurrency can serve you aside from simply buying, selling, and trading it? If you happen to be an existing or potential crypto investor looking to make the most of your investment, then you sure are in the right place because we’ve put together the 10 best ways for your cryptocurrency to be used. So, you don’t want to miss this.
Top Crypto Uses
To many people, cryptos are simply these high-risk investments that are great for Silicon Valley insiders and millennials to take advantage of. But aside from the hype and speculation that goes on about these digital currencies, they are actually created to fulfill a certain function and have a powerful use. Therefore, by understanding the function of each cryptocurrency, you can know what to use each one for best.
Low-Cost Money Transfers
One of the primary uses of cryptocurrency is to send and receive payments at high speeds and low costs. Therefore, by eliminating financial intermediaries that would charge higher fees and take several days to process the transaction, you’re able to make use of convenient payment systems.
Earn Interest With Yield Farming
To be a successful crypto trader, you have to have a lot of time, skill, and experience. So, because many traders still lack in these areas, many of them resort to holding their coins for long-term gain. However, there are ways that you can earn a steady interest in your investment by engaging in crypto yield farming.
Storing Your Wealth Using a Censorship-Resistant Alternative
Because there are instances where people can find their assets or bank account was frozen for one reason or another, this means that you can potentially face the inconvenience of having no access to your cash even if you haven’t necessarily done anything wrong.
By investing in a cryptocurrency, the coin acts as a censorship-resistant alternative that you can use to store your wealth since people with private keys are the only ones that can access the wallet. Therefore, your crypto wallet can never be frozen by authorities.
Invest in Innovative Startups
Since digital token-based fundraising has emerged in recent years, anyone with an internet connection can become an investor in innovative tech startups that are still in their early stages of operating. In turn, the startup can also benefit from this as you’re providing them with much-needed capital.
Make Private Transactions
Your privacy-centric digital currencies allow users to make financial transactions anonymously. This means that you make money transfers without needing to explain to a bank or financial institution who, what, and why you’re sending large sums of money as this delays and involves unnecessary bureaucratic processes.
Send Non-Cash Remittances
You can send non-cash remittances irrespective of where you are in the world to selected African countries. This will then allow recipients to do things like top up their mobile data or pay some utility bills for loved ones in Africa.
Get Paid To Post Content
Incentivized blogging and social media platforms allow publishers to receive cryptocurrency compensation for curating on the platform by producing high-quality content and for posting content.
Allow The Cloud To Rent Out Your Spare Hard Drive
Cloud storage in the form of decentralized blockchain technology allows users to earn crypto if they’re willing to exchange this for renting out the storage space on their hard drive to those who may need it for peer-to-peer instances.
Travel the World
The crypto ecosystem and market have grown exponentially over the past decade. And because many businesses, industries, and markets are beginning to warm up to the idea of allowing crypto as a form of exchange, you can use it to travel the world.
Buy a Lambo
Yes, you can use your cryptocurrency to buy a Lamborghini when you feel your crypto balance can allow for it. If you look at the Bitcoin luxury marketplace, known as De Louvois, this platform allows the rich to buy expensive sports cars using Bitcoin. On the marketplace, you also have access to a wide range of luxury goods like real estate, fine wines, and art. So, depending on your tastes and preferences, you can dig as far as your pockets will allow.
