7 Unique Things You Can Do With Crypto

Cryptocurrency has had quite the journey. At one point, it was considered nothing but a fad of the internet that would die off after a while. Since then, it has more than proven itself among consumers. It has become one of the most lauded and profitable investment vehicles of the last decade.

Even if you’ve been using cryptocurrency for a while, there’s a chance that you’re not entirely aware of all the unique ways it can be leveraged. For those who didn’t know, here are some of the cool things you can do with cryptocurrency:

Gambling

When many of us think of gambling, we incorrectly assume that fiat currency is the only option we have. After all, fiat currency was the only way you could play any sort of casino games for centuries. Now, thanks to the internet, our options have expanded. Specifically, it’s possible to place wagers on all sorts of things using cryptocurrency.

It’s not unusual to see online casinos that accept cryptocurrency alongside or even instead of your currency. If you live in Australia, for example, it’s now easier to find the best bitcoin casinos in Australia. There are so many of them now. 

These allow everything from slots to poker, sports betting, esports, and much more. If you find casino games entertaining, betting with cryptocurrency can offer you a ton of benefits. For starters, using cryptocurrency means that you can earn tokens that could appreciate. You can even protect your privacy while you place your wagers.

Voting

These days, many platforms are using blockchain-based ecosystems for voting purposes. First, the Decentralized Autonomous Organizations (DAOs) allow users to vote on developments within the ecosystem with ease. By holding tokens, you just have a stake in the ecosystem. You can help decide on things like upgrades, rebrands, and much more. 

Blockchain systems are also powering non-DAO projects. The fact that blockchain offers irrefutable ledgers means that votes cannot be changed, and elections are much harder to rig. Using blockchains to ensure free and fair elections might also be possible.

Paying Bills

Believe it or not, these days, there are more avenues to pay your various bills using cryptocurrency. There are platforms like Bitrefill that enable users to pay recurring bills, such as streaming subscriptions and electricity, using cryptocurrency. This process works by allowing the user to deposit cryptocurrency into an account. That crypto then converts into fiat currency. Payments take place automatically for bills as they become due. If you have cryptocurrency you’d like to spend on essentials, this is certainly an option to look into. As cryptocurrency becomes more popular, there’ll be more options to use it for similar purposes.

Paying For Travel

If you have any upcoming trips, consider exploring different ways to use cryptocurrency for payment. Platforms like Alternative Airlines and Travala allow you to pay for flights, hotels, transportation, and much more using cryptocurrency. 

If you own a crypto credit or debit card, you can also make payments for travel-related expenses. Thus, you can use cryptocurrency as easily as you would fiat currency. More options are becoming available every day to facilitate this, so it’s best to stay informed about these developments.

Pass it Down to Descendants

Experts consider cryptocurrencies both a medium of exchange and an investment vehicle. This means that they are valuable enough to be passed down. Many early crypto investors are seeing their stock mature. Many of them are making plans to leave their crypto assets to their loved ones. Some DIY enthusiasts simply hand over the password, recovery phrase, and wallet details to their descendants.

There are also custodial and succession services that now handle such matters, ensuring tokens end up in the right hands, proper taxes are paid, and more. If you have any cryptocurrency you’d like to pass down to loved ones, you’d better look into this.

Permanently Store Records

Blockchain, as we’ve said, offers irrefutable records of information, making it useful for data storage. Information stored across a blockchain cannot be removed, and more places are using it for verifying records and general storage. 

Several universities are utilizing it to verify certificate authenticity and prevent fraud. Social justice activists are also employing it to store vital information without fear of government censorship or suppression. Since blockchain can be used for small- and large-scale storage, cryptocurrency’s ability to access blockchains makes it even more valuable.

Donate to Charity

These days, more charitable organizations are accepting cryptocurrency alongside fiat currency. Because cryptocurrency doesn’t require centralized organizations to operate, it is often a more convenient option for donations. 

In time-sensitive situations, such as following natural disasters, donating cryptocurrency means that the funds can reach the intended users much quicker. It also proved useful in situations such as the 2020 #EndSARS protest in Nigeria. That saw attempts at government suppression, and switched to cryptocurrency for this reason. If you have any nonprofit causes you wish to support, it’s worth looking into whether they will take cryptocurrency.

Conclusion

Cryptocurrency continues to amaze us in the things you can do, and as a consumer, it’s best to know about all of these opportunities. From being used for gambling to passing it down to others and everything in between, there is no shortage of options for what you can use your crypto to do. Consider all of these factors to ensure you are maximizing the benefits of your crypto journey.