Blog Borrow 9 Ways You Can Use Your Cryptocurrency Today

9 Ways You Can Use Your Cryptocurrency Today

date September 22, 2020 time 4 min read 773 views

Many people who own crypts today keep them as an alternate store of wealth. However, there are many other ways you can use your crypto. From borderless transfers to online shopping, crypto is becoming increasingly useful

Crypto has been around for a while now. And if you don’t own any yet, chances are you know someone who does.

So what can you do with cryptocurrency today that you couldn’t five years ago? We’re going to talk about some of the most recent developments for using crypto today.

How to use your cryptocurrency in 2020

Use your crypto to make purchases online
Use your crypto to make purchases online (source: pxhere.com)

Cryptocurrencies have come a long way since Bitcoin was created in 2009. Here’s how you can make use of cryptocurrency today.

A safe haven against inflation

Cryptocurrency can be a haven asset in times of crisis. Many cryptocurrencies like Bitcoin are deflationary so they’re not tied to the economy of a certain country.

In Venezuela, many have turned to crypto as a means of storing money in the face of rapid deflation of the local currency.

Borderless transfers

Say you just moved to Canada but have a friend whom you need to send some money to in the US.

Ordinarily, this kind of transfer would be time-consuming and costly if done through a bank. However, the borderless nature of cryptocurrency transfers means you can transfer Bitcoin and other cryptos anywhere in the world and at any time for just a small gas fee. 

Crypto trading

This involves the buying and selling of cryptocurrencies online for profit in a method similar to forex trading.

Read: top tools for crypto traders.

Traveling the world

Cryptocurrency’s increase in popularity over the last few years has ensured that you can now fund your travels to anywhere in the world using cryptos. Travel agents like Destinia and CheapAir accept Bitcoin as payment. You can also do things like book flights and hotels and rent cars. 

And with several Bitcoin ATMs now available in major cities across the world, you can withdraw your bitcoins in local currency to fund your daily expenses. 

Earn interest through yield farming (DeFi lending)

One of the best ways to use your crypto is to invest it for long-term interest, you can invest in yield farming through DeFi lending. There are many platforms today that let you access consistent returns on your crypto through automatic lending. We’ll discuss this more in a minute.

Buy luxury goods on De Louvois

If you’ve got the cash and are looking for a bit of luxury, you can always buy a Lamborghini on luxury goods crypto retailer, De Louvois. Besides sports cars, De Louvois offer other luxury products like real estate, art, and wine. Every transaction can be funded with cryptocurrency.

Pay for college tuition

In 2014, The King’s College in New York became the first institution in the US to allow Bitcoin as tuition payment. Today, there are a growing number of international schools that provide crypto payment options to their students. 

Shop online

Major e-commerce stores like Shopify now allow sellers to accept cryptos as payment.

Make an anonymous donation

Crypto has become a new favorite method for donating funds anonymously. Donations are quick, secure, and can be recorded as tax write-offs. 

Major retailers that accept cryptocurrency

More companies are now realizing that cryptocurrencies are not as volatile as first thought. A growing list of companies now accept Bitcoin as a payment method and their list of cryptos is expanding. Here’s where you can use cryptocurrency to buy things today.

Microsoft

You can use cryptocurrency to make purchases on the Microsoft store
You can use cryptocurrency to make purchases on the Microsoft store (source: pxhere.com)

Always one to embrace and foster innovations in tech, Microsoft started accepting Bitcoin as early as 2014 in their online Xbox store. You just need to download their Bitcoin wallet app to get started.

Overstock

Today you can buy a bed with your crypto. Online home goods retailer Overstock accepts many different cryptocurrencies as payment. You can pay through either your personal or Coinbase wallets. Bitcoin payments are still not accepted on their mobile app.

Starbucks   

Despite rumors, Starbucks does not yet accept Bitcoin payments directly in stores. But you can now get coffee at Starbucks through an iPayYou Bitcoin wallet. That’s pretty handy for your next coffee date.

Namecheap

Namecheap is an online company used for purchasing domain names. An avid crusader for change and financial freedom, they’ve been accepting Bitcoin payments as far back as 2013.

Convert your crypto to cash, invest, and trade on MyConstant

While the number of platforms that let you use crypto is on the rise, not many can match the number of options MyConstant offers. Our platform accepts over 75+ different cryptos and you can use us to:

  • Earn Interest: If you’re looking to earn with your crypto,  you can invest it in MyConstant’s crypto lend. Invest either BTC, BNB, or ETH and earn as much as 9% APY.
  • Convert to Cash: You can withdraw your stablecoins as fiat to a bank account anywhere around the world. 
  • Take out a loan: Constant allows you to take out cash or stablecoin loans with your cryptocurrency as collateral. An easy way to unlock some of the cash value of your holdings without selling.
  • Trade at the best prices on the market: Convert your loans to cryptocurrency and use them to trade on Constant. We source the top prices from exchanges for you so you always get the best deal.

Sign up for a free trial on MyConstant today.

Share this article

George Schooling

George Schooling

Borrow against your multi-crypto portfolio in minutes from just 6% APR

Tags: use of cryptocurrency what can you do with cryptocurrency how to use cryptocurrency best way to use crypto use cryptocurrency to buy things

0 0 vote
Article Rating
guest
0 Comments
Inline Feedbacks
View all comments