When thinking about cryptocurrency use cases, the first thought most people have certainly surrounds speculation, as no cryptocurrency is widely accepted in retail stores. The truth is, however, there are dozens of crypto use cases, and they’re growing right under our noses.
While cryptos like Bitcoin and Dash have managed to penetrate into commerce to a certain degree, with one being accepted by mainstream companies like Microsoft and the other being very popular in South America, it’s still very hard to live off of cryptos.
Nevertheless, there’s a lot more one can do with cryptocurrencies than just speculate on their price, even though discussion is mostly centered on that. Cryptocurrencies like Bitcoin can, as most of you likely know, be used to avoid censorship, with controversial social media platform Gab even promoting it as “free speech money” to its over 800,000 users earlier this year.
Philanthropy and Savings
Looking at the biggest altcoin by market capitalization, Ethereum, there are other use cases. Non-fungible tokens (NFTs) were initially used for speculation by some, but they can now be used as real collectibles people want to have. Some charities have started issuing out ERC-721 tokens to those who donate, making int clear through the blockchain they’re philanthropists.