These days, the most well-known use of cryptocurrency is trading. However, while learning how to use cryptocurrency, you will discover it can indeed be used for trading, but not only that.
The market is volatile, and governments are rolling out regulations. But the number of individuals and businesses hopping on the cryptocurrency wagon is steadily growing, increasing the number of ways crypto can be spent.
Here are a couple of ways you can use cryptocurrency for everyday activities.
1. Use Cryptocurrency to Invest it in Education
In 2013, the University of Nicosia in Cyprus became the first university in the world to accept Bitcoin. Later, in 2014, King’s College became the first educational institute to accept cryptocurrency as payment in the United States.
Ever since, more and more universities and schools started accepting this form of payment, including:
- The University of Cumbria, United Kingdom (since 2014);
- European School of Management and Technology, Germany (since 2016);
- Lucerne University of Applied Sciences and Arts, Switzerland (since 2017);
- FPT University, Vietnam (since 2017);
- UC Berkeley of California, United States (since 2017);
- Financia Business School, France (since 2018);
- Innovation and Entrepreneur Business School, Spain (since 2018);
- The University of Pennsylvania, United States (since 2021).
2. Pay with Crypto to Travel the World
Right now, the travel industry is on a hiatus, even though the restrictions don’t feel so strong anymore. However, the situation will change sooner than later. And once that happens, you can use your cryptocurrency to see the world.
Many websites accept payment in cryptocurrency, one of the most prominent ones being CheapAir. They have been accepting Bitcoin payments since 2013. Starting with June 2021, they have included altcoins into their payment system.
3. Purchase a Home for Retirement
In September 2017, a Texas real estate brokerage firm completed its first property sale using only Bitcoin. Upon closing the transaction, the agent who represented the buyer stated:
“In all of my 33 years of closing transactions, I honestly couldn’t have expected something so unique to go so smoothly. In a matter of 10 minutes, the Bitcoin was changed to US Dollars, and the deal was done!”
This helped pave the way for the evolution of Bitcoin, as the transaction proved that cryptocurrencies are a safer and more efficient way of doing business.
Today, Bitcoin is part of the mainstream economy, and you can buy houses, lands, or apartments using various crypto coins, including Bitcoin, Ethereum, or Litecoin.
4. Donate Cryptocurrency to Charity
The evolution of the crypto industry also helped create many charitable projects and platforms.
One such project is AidCoin. This blockchain-based project allows people to make transparent donations to charities like WWF, UNICEF, or Save the Children through the Ethereum blockchain.
Another fantastic project is Commit Good, a reward-based fundraising platform built on blockchain technology. The platform allows organizations to list their projects, and users vote on the most impactful project.
At the end of each month, the project with the most votes receives an award of $10,000.
5. Buy a New Car
If anyone is going to take the lead in introducing the automobile industry to the crypto industry, it’s got to be Elon Musk. In 2016, Mason Borda, the CEO of TokenSoft, pre-ordered his Tesla Model 3 using 2.413612 BTC.
One year later, in 2017, major European retailer Alza started accepting Bitcoin, and shortly after, they put on sale the Tesla Model S and the Tesla Model X for 50 BTC.
But we can never be sure whether the eccentric Elon Musk will join the crypto hype and start selling his cars for crypto coins for real without stopping payments after a few months. So, until then, you can always grab a cab via apps such as Due and pay in Bitcoin.
6. Enjoy a Delicious Dinner
The first ever recorded Bitcoin transaction was a payment of 10,000 BTC for two pizzas. So, it seems only fair to keep using crypto to satisfy our fast-food cravings.
KFC Canada announced in January 2018 that they’re officially accepting Bitcoin as payment and released the Bitcoin Bucket.
Later in August, McDonald’s also introduced MacCoin to the world, a sort of crypto coin that customers will receive every time they buy a Big Mac.
Another noteworthy fast-food chain that accepts cryptocurrency is Subway, and they were one of the first companies to lead the movement.
7. Buy a new TV
… or redecorate your kitchen, or get that new mattress.
Like the other industries, the retail world also adopted Bitcoin as one of its payment methods. Overstock, a massive American e-commerce website, started accepting Bitcoin in 2014. Three years later, they doubled down and started accepting Bitcoin Cash, Ethereum, and Litecoin.
Today, many consider it an honest crypto company, as it is preparing to sell Bitcoin via its website and crypto wallet.
As you can see, you can spend your cryptocurrency on almost anything. And as the market continues to evolve, the number of businesses that embrace cryptocurrency can only grow.
But remember to always be careful, as many fraudulent websites can’t wait to get their hands on your crypto coins.