Got crypto? The excitement of acquiring cryptocurrency has taken the world by storm. For the first ten years filling a crypto wallet seemed to be the only goal. Now that crypto has become more mainstream, you may be starting to think about ways you can actually use this currency in the real world. Here are some ideas.
1. Make More Crypto
While some investors have had success trading cryptocurrencies, the volatility of the market makes this an undesirable way to consistently build wealth. Instead, earn “interest” on your digital currencies with crypto yield farming, a strategy for investing your coins on platforms that are offering a return on your investment.
2. Transfer Money at Virtually No Cost
One of the best uses of cryptocurrency is to send and receive payments at low cost and super-high speeds. The low fees for crypto transactions alone have made digital currency an excellent vehicle for international money transfers.
A recent famous crypto transaction was a $99 million LTC Exchange that was processed in two and a help minutes and cost the sender $0.40 in transaction fees. Had this transaction been processed through traditional methods it would have cost the sender much, much more money and taken much, much longer.
3. Send Non-Cash Remittances
In some places in the world cash is not king. Platforms such as SureRemit allow users to send non-cash remittances to friends and family in Africa. Once processed, Africans can purchase RMT tokens they can use to pay for goods and services such as mobile data top-ups and utility bills.
4. Hold Assets With Anonymity
The only one who knows who holds the keys to any crypto wallet is the keyholder themself. This means that cryptocurrencies provide absolute anonymity, protecting your investments from everyone from your ex to the government. Your wallet cannot be accessed, stolen, or frozen by anyone for any reason.
5. Maintain Complete Privacy During Transactions
Cryptocurrencies are private. Ownership is not documented or traced. If total privacy is needed, specific currencies like Monero and PIVX allow users to make transactions that are totally anonymous. Because there are no governments, or institutions that report to governments, involved there are no questions being asked and no bureaucracy getting in the way.
6. Travel the World Easily
Over the last decade, the explosion of crypto has made it possible to travel the world with only digital currency. There are travel agents that accept Bitcoin for booking flights, hotels and car rentals. There are private accommodation booking sites that accept Bitcoin and Ether. Bitcoin ATMs are available around the world to convert your crypto to local currency when you prefer to be cash-based. Crypto can take you where you want to go.
7. Become an Astronaut
Virgin Galactic, Richard Branson’s commercial space travel company, is accepting Bitcoin in exchange for space travel.
8. Buy a Hot Car
Tesla accepts crypto in exchange for its famous cars. You can even use cryptocurrency to buy a Lamborghini.
9. Shop for Ultra-Luxury Goods
A Bitcoin luxury marketplace called De Louvois allows you to purchase art, jewelry and other luxury items, including real estate and sports cars, exclusively with Bitcoin.