One of the many benefits of cryptocurrencies is that they are decentralized. Unlike the gold standard, no central authority can control how much currency is in circulation or who can have access to it. This means that, in most cases, you are free to use your cryptocurrency however you want with only minimal restrictions.
This article will provide a list of seventeen different ways people commonly use cryptocurrency and hopefully give you some ideas for new projects.
- You can buy stuff!
Suppose you started off this list with buying things because that is the easiest way to get started with crypto. If you want to buy stuff online, then you’ll probably want to use a platform that converts cryptocurrencies into fiat money. Some of the most popular ones are Coinbase and BitPay.
- You can donate!
If you want to buy stuff online and prefer to give your money away rather than spend it, then donating is probably a better option than spending it on something physical. Some of the most popular donation platforms are BitGive, Dona, ChangeTip, and Charitycoin.
- You can gamble!
If you don’t want your money to go very far in the physical world but would rather it go pretty far in the virtual world and then get to keep some of it back, then gambling is probably a good option for you! Some of the most popular places to gamble with cryptocurrency are Bitcasino, SatoshiDice, and Just-Dice.
- You can sell things!
If you want to get rid of that old laptop, a pile of stuff on craigslist or clothing markdown at a consignment store, and you want to do so without converting the money into fiat currency, then selling is probably a good option. Many people prefer using a peer-to-peer marketplace such as LocalBitcoins or Ziddu to sell their things for cryptocurrency rather than cash or even bitcoin.
- You can invest!
If you want to buy stocks, bonds, or other investments, then you’ll probably want to use an investment platform that has built-in investment options for cryptocurrency. Some of the best options are Coinbase, Robinhood, and IEX. Immediate Edge offers a unique and powerful way to make money from the volatility in the markets. The system is easy to use and it can be customized to fit your own personal trading style.
- You can donate to a charity!
If you’re like me, then buying stuff is a good time, but donating is also a great way to get involved in the community and raise money. There are many ways to donate to charity, but the most popular way is by donating cryptocurrency. Some of the best places to donate in cryptocurrency are BitGive, Open Medicine Foundation, and Giveth.
- You can gamble on a sports team!
If we’re talking about gambling, then it’s only natural that we talk about betting your money on sports teams. The most popular sports gambling platform is FanDuel.
- You can invest in the music industry!
If you’re more interested in investing in the music industry, then there are a few great platforms for that as well. One of my favorites is CreativeCoin, but you can also use Soundcoin or Ujo Music to invest in new music.
- You can access the stock market!
If you’re serious about making money, then the stock market is your best option. Some platforms have been specifically built to deal with cryptocurrency trading and investing, including BittyBot and CryptoEquity.
- You can bet on sports!
If we are talking about betting, then we naturally have to talk about gambling on sports teams. The most popular platform for this is Betfair, but there are many others as well.
- You can trade for a living!
If you want to make money, then you’re going to have to start trading. There are plenty of platforms that let you do this with cryptocurrency, including Atomic Trade, ICBIT, and Leetcoin.
- You can tip people!
Tipping is one of the most popular ways that people use cryptocurrency online, especially because so many social media or other online platforms don’t support it yet. Some of the most popular places for tipping are ChangeTip and TipperCoin.
- You can invest in real estate!
If you are interested in investing in real estate (or maybe someone else is), then check out the ShadowToken platform, which lets users create investments in apartments or houses using cryptocurrency.
- You can invest in a startup!
If you know of a good new startup, then this should be your most obvious option. You may have to create an account on the platform you wish to get involved in first, but once you are approved, it will give you access to the company’s assets and profits.
- You can trade on margin!
If you know the market will go up, then betting on its direction is probably a good option. Using margin trading platforms will enable you to make more money because you can use leverage to trade more currency for less money. Some of the best margin trading platforms are Quoinex and Bitmex.
- You can exchange cryptocurrency for fiat money!
If you have a lot of cryptocurrencies, then you may want to convert them into fiat currency and cash out. Some of the most popular crypto-to-fiat exchanges are Coinbase, Gemini, and ShapeShift.
