With the advancement of blockchain technology, cryptocurrency will become even more relevant to online banking and voting. Even as it stands, the potential for practical use of crypto coins are a not so vague an idea anymore. Aside from simple online purchases, cryptos are a workable solution for consumers who want to buy almost anything from a major retailer – Microsoft and Starbucks included. Here is a rundown of trends in cryptocurrency use.
Online Gaming
You don’t even have to think twice before pointing at online games as the stamping ground of cryptocurrency enthusiasts. Playing BTC blackjack games is one of the hottest trends. Online, paying with crypto has almost everything working in your favor, except maybe for the tradeoff that regulation is not as tight. If you know how to moderate and how to do your due diligence, you can have a great time playing real-money games with BTC, ETH, and Dogecoin, among other tokens.
Buying Software and Technology
Microsoft was one of the first visionaries who started supporting cryptocurrency payments in exchange for games, software, and other products on their online store. In fact, Microsoft’s move to adopt Ethereum payments was one of the things that skyrocketed its price. Moreover, Microsoft plays with the idea of integrating ETH technology to combat piracy.
Subscribing to News Media
You know how often it happens – you read an excerpt and proceed to scroll down to read the rest of the article, only to find out that you must earn that privilege by becoming a subscriber. Well, it’s super easy to do that now if you have a Bitcoin wallet. By and large, cryptocurrency news publishers have always accepted payments in BTC and ETH, including BlockTelegraph and Grit Daily. There’s a trend, however, seeing mainstream media outlets accepting subscription payments with Bitcoin, which just scratches the surface of the things you can buy with Bitcoin.
Buy Merchandise Online
Overstock – the online retailer that can fit you up with literally anything – enabled Bitcoin cashouts in 2014. On the site, you can find deals of all kinds. An interesting case is Etsy – which is yet to start accepting Bitcoin payments. A large portion of users seems content to contact sellers directly and ask them if they accept crypto payments. This looks like a developing trend, which is particularly relevant in the artist community.
Buy NFTs
What are NFTs, besides a record-breaker in creating confusion? The non-fungible token system using blockchain technology is very useful for transferring digital or physical assets ownership. The artistic community is particularly fond of creating NFTs for the purpose of selling them to collectors, including deployments on VaynerNFT, Magic Eden, and ViciNFT. No matter if you are a collector or an artist, it’s worth giving this a shot only after doing your research.
Cryptocurrencies as an Investment
With the prices being so volatile, you never know when it will be a good time to just hold your assets before better days come. The famous ‘hodl’ mentality may not be for you, but it’s worth putting things into perspective. If there ever was a time when a nobody in the investment world can multiply their money, that is now. Any of the altcoins hold that potential, but it’s a gamble; there are no two ways about it. Either way, many people bank on Bitcoin, even more valuable than it is now and happily squirrel away BTC tokens.
Lower Transaction Fees for Businesses
In the distant year 2014 (for the short history of the blockchain as a concept), PayPal jumped into the deep end and started advocating cryptocurrency use for businesses. Only recently did the payment processor enable the option “Checkout with Crypto”. By opting for a crypto checkout, the user’s assets are sold and converted to fiat currency, which is then used to process the payment. Still, the processor tells us that not all purchases are eligible for this option, but it’s a big step forward for the supporters of blockchain technology.
An Ever-Improving Technology
Amid accusations that sustaining the blockchain would cause an ecological disaster, prices dropped, and users were strongly discouraged from purchasing software with Bitcoin. Taking a page from TRON – the eco-friendly blockchain, many other cryptocurrency firms have made a notable effort to migrate to a more power-saving ecosystem. Some key players are not yet out of the woods, but they are slowly adapting to the requirements for greener technologies.
