Cryptocurrency is all the rage nowadays, but what can you do with cryptocurrency other than buying it and waiting for it to raise in value to sell it? Well, there are tons of uses for cryptocurrency and here are a few ways you can use it.
Affordable Money Transfer
One of the best parts of cryptocurrency is that it is a surprisingly affordable way to transfer money. Most people use traditional payment methods like PayPal and First Payment Provider to transfer cash, but if you happen to send a HUGE amount of cash, crypto might be your best bet. For instance, one $99 million transfer costed a mere 40 cents and processed within minutes. This transaction would have costed a LOT more money and time with a regular financial institution. Of course, it is only ideal if you are sending a large sum, otherwise regular transactions are better with regular payment platforms like First Payment Provider.
It is also ideal if you want to make a private transfer. Certain cryptocurrencies allow people to make private and anonymous transactions. So, you will not have to explain to financial company or institution who you want to send money to, the fund’s source, why you are sending money, etc. These questions tend to slow down the money sending process, especially for large transfers, so using crypto for transfers would be better.
Safe Money Storage
Your assets and bank accounts can get frozen at any moment, even if you think it could not happen to you. Luckily, crypto is a unique and safe way to store your cash without it ever getting frozen. Cryptocurrency is censorship-resistant, so the authorities cannot freeze your personal coin wallet. However, you should do this carefully. Remember, cryptocurrency’s value can change drastically. If you are lucky, your money could double, but it could also easily lessen in value.
Use It for Travel
More and more companies are accepting crypto as a form of payment, and travel is no exception. Many travel agents accept popular cryptocurrencies, like Bitcoin, as payment for hotels, car rentals, flights, etc. plus, ATMs that work with Bitcoin are beginning to grow in popularity around the world. You can convert your crypto to change it into local currency in many countries.
Buy a Luxury Car
If you happen to have a lot of crypto and want to splurge your cash, you might find yourself with a Lamborghini pretty soon. Bitcoin is so popular that luxury car brands like Lamborghini are now accepting crypto as payment for their sports cars. Tesla is also planning to let people use crypto to purchase Teslas. Additionally, the luxury market that accepts Bitcoin will also allow you to use crypto to buy real estate, wine, art, and much more.
Investing in Start-Ups
If you are into tech start-ups, then you can use your crypto to invest into it. Many of these tech ventures require capital to move, so you can use your cryptocurrency to invest in it. Typically, these investments require popular cryptocurrencies like ether and Bitcoin.