5 Ways to Use Cryptocurrency
Over the last several years cryptocurrency went out of its niche and became a significant part of some people’s lives. When progressing, crypto went beyond just the finance sector and minds of geeks. As it is now clear, there are many different ways to use crypto (including, for example, real-life purchases). However, some of these uses are still underestimated. Let’s take a look at some of the ways (from the most popular to less obvious ones).
5 ways to use cryptocurrency
- Supporting charities
- Exchange cryptocurrency for gold
Hodling (also known as holding currencies)
The idea is simple – you hold the crypto asset that you have bought. This process can last for days, weeks or months. Newly launched ICOs can find this strategy quite successful, as the asset may double or even triple in value as the time passes. Holding also has its risks as the price of a taken currency may crash drastically which will lead in you being at a loss. To be fair, holding is more like gambling – you just sit and hope for the best.
Exchanging one cryptocurrency for another, buying and selling coins and exchanging fiat money into crypto may be a better and a safer option. Of course, there are no guarantees that the prices will be higher tomorrow than what you have paid today, but somehow it is still better to plan yourself than wait for the fortune.
Now, as cryptocurrency became a stable part of real life, there are more and more real-life things you can purchase with your stashed Bitcoins. For example, crypto can be spent on plane tickets and accommodation. There are few sites out there that provide an option of paying with crypto (like Expedia or CheapAir.com, for example)
It’s great to support charities, but sometimes we really do not know where the money given is going. Paying in crypto solves this problem, as blockchain keeps companies accountable, preventing fund leaks. World Food Programme is an example of a charity that uses blockchain for donations.
Exchange cryptocurrency for gold
A renown gold-dealer, Sharps Pixley, is now accepting payments in Bitcoin too. This was a way to attract wealthier clientele to invest in gold. Generally, gold dealers are becoming increasingly interested in cryptocurrency and even try to use blockchain to create new kinds of gold trading systems.
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