Crypto has been present for a long time, from January 2009, when Bitcoin first emerged. Crypto became part of our lives, first slowly and then exploding with the crypto craze in 2013. From that point, it’s been riding its waves up and down, but our world will never be the same. One of the main reasons for such changes is more widespread practical applications of many cryptocurrencies. Each day a new cryptocurrency emerges, and we find an additional use.
Using crypto for online shopping is nothing new. We all know the case when Papa John’s was paid 10,000 Bitcoins, but ever since a lot has changed. Crypto is associated with luxury, high value and large amounts, making it perfect for buying luxury items of high value. Plenty of global brands like Rolex, Lamborghini and Prada all accept crypto as a valid form of payment, giving it more credibility.
Unlike traditional currencies, crypto is often quite volatile, oscillating in price, so crypto traders can bank when the price is right, buy a luxury item and still have it after crypto suddenly loses value, should the worst happen.
For you as a buyer, the perception of the price for a luxury good changes once you start viewing it in several cryptos rather than thousands of dollars. What’s particularly interesting here is that the market for luxury goods follows crypto market revolutions, going up and down as crypto does. This goes to further show how connected these two items are.
There are a growing number of online casinos specializing in crypto payments, like lucky block bitcoin casino. At these platforms, online games are fairer because algorithms and cryptographic technology are used to ensure that no one, including the casino operator, can tamper with your crypto investment.
These casinos are thriving because they can often operate in states and countries where gambling with fiat currencies is not allowed. They also offer many benefits compared to fiat online casinos (on top of fairer games), like keeping players anonymous and offering almost instantaneous payouts of any winnings in the account.
From outer space to traveling on Earth, more travel agencies accept crypto as a valid form of payment. As a universal currency, crypto does not suffer from conversion rates and can be used worldwide, making it ideal for traveling around the globe. Travel companies like Virgin Galactic, Alternative Airlines, Chepair, and others can get you anywhere you wish via crypto.
Thousands of destinations exist with different means of traveling, and when combined with over a hundred accepted cryptocurrencies, your possibilities as a traveler are limited. Unlike traditional travel, you don’t need to keep your physical wallet safe, as everything is possible via your virtual one.
Credit cards are losing ground to crypto wallets. Crypto can morph into any currency, from dollar to yuan, and even buying digital gift cards is available to anyone with an email. You can even send physical gift cards, as the possibilities are limitless, from online flower shops, bookstore credit, Amazon and other retail stores.
Because crypto offers far faster processing times and lower transaction fees, you get more from your money than when shopping with fiat. It also keeps users’ data more secure, reducing the risk of fraud.
Funding education worldwide
Crypto opens up chances and opportunities for people around the world. Education is the best investment, but it’s closely tied to where you live. People in distant countries without colleges and world-class education have to struggle more. With crypto as a valid form of payment for international colleges and schools, plenty of obstacles are gone. High conversion fees, wire transfer costs and unfavorable currency status are all gone, and crypto bridges the gap. The benefits of a universal and accepted currency like crypto are that you can now use it to buy prime education from any college. The University of Pennsylvania and California Intercontinental University are the two best examples of schools accepting crypto payments in the US.
We are witnessing the rise of the SaaS services (software-as-a-service) business model, and crypto is the universal remedy, evolving them to BaaS (Blockchain-as-a-Service). Streaming services (Twitch, Netflix, Hulu, Disney+ and Amazon Prime Video are great examples) are all subscription-based services for worldwide audiences. Each product that aims to be accepted around the world accepts crypto because of its universal appeal. Subscriptions cost a fraction of any crypto’s value, whereas even stacking several premium subscriptions can hardly put a dent in your portfolio. The benefits of using crypto for subscriptions are, again, not having to worry about conversion rates, and the ongoing rise of crypto means you’ll easily cover any subscription costs.
Blockchain technology behind crypto is the main driving factor of its popularity. To simplify the explanation, all the data associated with cryptocurrencies is publicly accessible, cannot be changed and is easily trackable. This makes it the ideal means to prevent fraud, misuse and illegal activities. Charities to which you can donate all rely on their reputation. Because of this, more and more charities are accepting cryptocurrencies as valid donations. Your donation can be tracked and monitored, allowing you to see where your money goes.
Fair electoral donations
As charities, using crypto for electoral donations and lobbying can allow for greater transparency and fairness. Political donations are notorious for misuse and fraudulent behavior, whereas crypto can help bring transparency and increase reputation. Using crypto for your political causes and supporting your desired party and politician is relatively new, with the best example being in 2022 FTX-linked donations, but you can become an early adopter and help spread the practice.
The last of the three types of donation fundraising shares all the benefits of crypto. Any fundraising accepting crypto can look forward to donations from around the globe, and crypto donations are, contrary to their name, public and accessible as opposed to cryptic. Fundraisers who don’t meet their goals can also reimburse crypto, as it’s easy to trace crypto owners via blockchain technology.
The rise of crypto in volume and popularity brings more uses and widespread acceptance. From its early beginnings to today’s dominant status, crypto has passed through its infancy and has a bright future. Crypto has the potential to become the universal currency, replacing how we view our financial systems. From the moment our regular currencies transitioned into digital (and 95% of transactions in the USA are digital), it was only a matter of time before crypto took over. With each passing month, the percentage of use rises and options for customers increase. Which is a bright future we all can look forward to.
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