3 Uses for Cryptocurrency for the Unaware

Cryptocurrency is one of those products of the digital age that can sometimes feel like a passing trend. However, due to its popularity, there might be more applications for it than you expect. Knowing this could be something that encourages you to dig deeper, and while it might not be enough to get you started investing in crypto right away, it’s knowledge that can broaden your perspective on what this type of currency has to offer.

Some of this is practical – uses that are very evident in the modern day and ready for you to throw yourself into. Others are theoretical and only time will tell how true they end up being.

Investing

When it comes to cryptocurrency, the use that you’ve likely heard it primarily associated with is the ability to use it as a point of investment. Cryptocurrency is often regarded as a much more volatile investment than something like shares, and that might make it a much riskier investment – especially for a first-time investor. However, the success stories that you might well have heard from those who managed to make a lot of money off of crypto examples like Bitcoin might encourage you to think that lightning is bound to strike twice.

Even with the volatility and unpredictability, you might find it worth your time to investigate some expert investors who can guide your hand in regards to where your money might be better invested within the realm of crypto.

Spending

Of course, what use is currency if you can’t spend it? Well, you absolutely can. The list of vendors that are willing to accept crypto might not be as vast as those who accept more traditional forms of currency, but it’s certainly expanding. One such example of a venue that might well accept your crypto if you happen to find yourself with some to spare are online casino pokies in Australia. Many of them will make a point of advertising this as a feature, but if that isn’t the case, it might still be possible to use it in the same way – it just requires a bit of investigation.

That isn’t the only option, however, and you might find yourself surprised by the range of options that you have if you’re wondering about the actual functionality of crypto as a currency.

‘The Carbon Coin’

Onto the theoretical ideas, an idea posed in Kim Stanley Robinson’s ‘Ministry of the Future’ is that cryptocurrency could one day be used to incentivize the removal of carbon in the atmosphere – the more that a country contributes towards this effort, the more of this digital currency they would be rewarded. Obviously, this is hypothetical, and quite far from a situation that you could expect to take place now due to the requirement of a third party who could bestow this. However, it’s an idea that could have those dismissive of the initial concept more thoughtful about the value that such a thing could potentially have when it comes to addressing the various issues that the modern world faces.

Similar Stories