What Can You Use Your Digital Currency For?
Okay, you bought your first bitcoin. How exciting! You’re officially an owner of digital currency … now what?
What is cryptocurrency even used for? You’ve probably heard of the endlessly talked-about method of using virtual currency, investment. And yes, crypto is an amazing thing to invest in, but it does so much more than that.
Sending Money to Other People
The most common and prime example of everyday usage for digital currency is that it’s an easy and instant way to send or receive money from someone else. Location is in no way a barrier when it comes to cryptocurrency.
Whether you’re betting in an online poker game, sharing expenses with friends or sending money back home to your family in another country, digital currency makes it possible. There’s no hassle of meeting up and exchanging money in person (which is extremely useful given the current circumstances) and you don’t have any fear of the money not being safely delivered.
Spending Money at Businesses
Sure, you can send money to people, you know that. What else? Well, as digital currencies’ relevance is quickly growing, everyday services are accepting cryptocurrency as payment more and more. One example is travel site CheapAir.com. They started accepting digital currency as payment to travel a year ago, and many other services are quick to follow suit.
With the pandemic pushing the US into previously unconceived things like a change shortage, virtual currency being commonly used by businesses might be closer than we think. So why would you use cryptocurrency over your credit card for online payment? Well, if you care about the environment or your money’s safety, cryptocurrency would be a good idea to use in everyday purchases. Let’s unpack that.
Cash (Ironically) isn’t Green, But Crypto is
How could digital currency be helping the environment? We all know where money comes from, and if environmentalism is your thing, then so is cryptocurrency. Removing the need for paper and metal money, in turn, reduces destruction of the world’s natural resources (even if cash isn’t literally made of trees).