Although I’ve heard buzz phrases like “crypto is the future” and “we’re still early”, the now – the present moment – is arguably just as important. More people now see and understand the potential that cryptocurrency has to be a big part of the future, but real-world applications for crypto in the meantime are often overlooked. Here are just a few examples of current uses for crypto right now.
Cheap money transfers. Fees and general transaction costs with fiat can really add up. On the flip side just days ago, a transfer of $41,696,000 in Bitcoin took place, with a transaction fee of $1.93. The fee charged is 0.0000046286%! Good luck finding a bank that will match these rates.
Shopping. From grocery shoppings to spoiling yourself with an online shopping spree, cryptocurrency is becoming more usable than ever. Brands like Starbucks, Home Depot, KFC, Tesla, PayPal, Twitch, and endless others are all onboard and integrating crypto as a real payment option. You might be wondering “But why would I use crypto when I can just use regular money?” A lot of these crypto platforms such as Crypto.com offer a variety of rewards, benefits, and special offers as incentives to get people onboard. Worth taking advantage of if you know about it!
Hedging against inflation. The last two years have caused a spike in inflation globally, which means your dollars, euros, or any other fiat will likely be depreciating much faster than normal. How to combat this? Contrary to popular opinion, not everything in crypto is as volatile as you might think. For less risk but high returns, it’s not difficult to find several stablecoins that allow you to stake, earning anything between a 15% to a 45% annual return.
Play-to-earn. Let’s not pretend like this isn’t the most obvious one, with crypto gaming taking off in early 2021 and since then it hasn’t slowed down. Play-to-earn games allow players to earn for achievements or time-spent playing their game, which then can be either used to your own advantage in-game or cashed out into fiat.