Cryptocurrencies are on their way to take over the global financial industry and have the potential to change the way we look at payments. The progress that they have made over the past ten years is incredible, and it really deserves the utmost respect.
Bitcoin was the original cryptocurrency to be developed in 2008, and since then, around 2,000 cryptocurrencies have appeared on the market. They have many benefits over regular payment methods, which is why statistics show that there are around 7 million crypto users in the world today.
Not only that, but thanks to the massive interest from institutions, there are tons of things that you can use cryptocurrencies for. With that being said, we wanted to provide you with a list of those things, so let’s dive into the details without any further ado.
Making a Profit
The biggest reason why so many people are keen on using cryptocurrencies is the chance to make a profit. Bitcoin and Ethereum are some of the most profitable cryptocurrencies on the market. Bitcoin’s value is $35,000, while Ethereum is valued at around $2,000.
As you can see, Bitcoin is by far the better option. This cryptocurrency has helped around 100,000 people become millionaires. But that doesn’t mean that you should always opt-in to this cryptocurrency only. Thanks to trading sites, you will have an array of digital assets to choose from. Once you’ve made your pick, you will connect with buyers and thus, be able to make a profit.
One of the most profitable trading sites on the market is Bitcoin Profit. Thanks to the Bitcoin Profit updated site, users are able to trade with the latest AI-powered trading system. The platform is optimized for mobile use, while the registration process at this platform is fast and extremely simple.
Cryptocurrencies, especially Bitcoin, can be used to play games. One of the most active crypto supporters is online casinos. Playing casino games with cryptocurrencies has become quite popular in the past two years, which is why many casinos integrated them into their banking policies.
Not only that, but some online casinos even feature special crypto categories with games that can only be accessed by making a deposit with one of the digital currencies that the site accepts. Other platforms such as Steam also allow you to use crypto to use its gaming services.
Using Them as A Payment Method
Cryptocurrencies are growing in their acceptance rate due to the fact that they are superior to regular payment methods. They provide users with greater security, instant transactions and allow them to void unnecessary fees since they are not controlled by banks.
What’s even better is the fact that many global brands accept them. The list includes the likes of Microsoft, Shopify, Subway, Overstock, Expedia, Whole Foods, and Home Depot. All of these companies have acknowledged the advantages, which is why they decided to integrate cryptocurrencies into their system. However, it is worth noting that a majority of these companies only accept Bitcoin as it is the most commonly used cryptocurrency.
The future potential of cryptocurrencies is really hard to determine. When it comes to highly volatile cryptocurrencies like Bitcoin and Ethereum, analysts suggest that they will continue to rise in value. For example, Bitcoin has the potential to go as high as $1 million in 2037.
The reason why is that it is expected for 99% of all Bitcoins to be mined in 2032. Hence it will be extremely scarce. The demand will increase while the supply will decrease. Hence its value will go up. But, when it comes to their legality, it is impossible to see whether they will be legal tenders. The good news is that governments have shown leniency recently.