Due to the advancement of technology, a lot has changed and progressed. Every day, new companies arise offering new bright ideas that could enhance the lives of the people. Technology has brought these companies into existence and change the way people live their lives - the way they travel, purchase needs and necessities, the way they learn, spend their money and a lot more - countless changes!
One of the notable changes that technology has brought a few years back is the introduction of Blockchain Technology.
Blockchain and cryptocurrencies have been making headline since it was first launched because of its continuous improvement. People have seen the rise and fall of some cryptocurrencies and the effects of blockchain in the lives of crypto enthusiasts, traders, investors, and even ordinary consumers.
Cryptocurrency is truly fascinating. The use of cryptocurrency has evolved from it being in the financial market, to online e-commerce platforms, payment methods in online gambling sites, worldwide casino outlets and a lot more.
Cryptocurrency is risky to invest with ‒ for most people, though. However, some people see it as more just a decentralized digital currency ‒ it was meant to do something more than the usual ‘money’, something powerful and useful. But, what are the uses of cryptocurrencies and how it affects our lives each day?
Private, Low Cost and Non-Cash Transaction
Some of the reasons why people love using cryptocurrencies are that it offers safety, security, convenience and low-cost transactions. Aside from trading, and sending money, you can also use it to receive non-cash remittance. Nowadays, some companies allow you to use cryptocurrencies for remittance and convert it to cash instantly and hassle-free. No need to physically go the bank or remittance centers just to send money. With few clicks on your computer or phone, it’s done. In some countries, some companies also accept it as a mode of payment for your bills. This allows you to save some money, time and effort which you can use in other things.
Travel and Leisure
Who does not love traveling, right? Booking your airline tickets online can sometimes be devastating as some require online payments with cards that are accredited by their company. Standing in long lines on payment centers can be so tiring, as well.
Travelers now have an option to use any cryptocurrency to pay their airline tickets, hotel accommodations, car rentals, and other transactions made online as some online ticketing centers accept it as a mode of payment.
Guess what? There are already ATM Bitcoins in some countries where cryptocurrency has been legalized and so people traveling in those countries have now the option to withdraw anytime they run out of money.
Buying a Fancy Car
Maybe some people may not know, but now you can use Bitcoin and other cryptocurrencies to buy not just a car, but a fancy car. And yes, when you say fancy, these are the luxury brands that cost millions of dollars and offered by huge companies and now some of them are open to accepting cryptocurrencies as payment.
Well, if you can buy a luxurious car, what more can you buy using cryptocurrencies? More and more companies are now opening their door in accepting cryptocurrencies as a payment option. Now, you can also use your cryptocurrencies in buying artworks, real estate and even paying for education.
Though in reality, this is only a deal for millionaires or for those with a deep pocket. But, it helps you save a lot of money as you will no longer need any middleman or third party. Depending on how much is the agreed price, you will be paying directly to the person, making it more secure and safe because once the payment is set, you cannot change it.
Charity Work, Donation, and Fundraising for a Cause
Charity corruption is not new to us and because of this, most sponsors and donors are having second thoughts about donating. Donated funds go through a process, and a lot of people are handling them. Though charity works have an excellent goal, most of the time only a handful, if not, half of the donations are going to where it is supposed to go. Could not just imagine how many opportunities these people in need lose because of this.
For example, the charity aims to help 100 cancer patients to their medical needs. But because of corruption, they will only be able to help half of the target patients or less. Moreover, they can easily lie and say that the funds are not enough.
Cryptocurrencies will help you transfer the funds and donate directly to where it should be. And because of the low-cost transaction fees than traditional, it will help you save money, or maybe help more people. With the help of its unique feature, you can easily track where the money really went.
The uses of cryptocurrencies are becoming more flexible. The continuous development and positive history helped a lot of people and organizations to trust in the service more. With its growth and development these past years, you can do a variety of things and we will not be surprised if one day it can be limitless.