After the fall in the price of Bitcoin, its magic may have faded but the interest towards the crypto market still remains. In fact now one can trade for less popular currencies like Litecoin, ripple or Monero. While there is a lot of hype about trading Cryptocurrencies but surprisingly it has lot many uses. Here is how people are using Cryptocurrencies other than conventional ways.
- Betting and gambling
People are using these currencies for gambling, the Ethereum network has become a betting pool that helps in collecting, managing and distributing the earnings and that too without paying any tax to the government. The revolutionary technology of Bitcoin helps in the transaction at a lightning fast speed that too in disguise. It is a kind of adult entertainment these days and a way to gather attention from the fellow mates.
- Donations and charity
It is found that many people are donating their crypto coins to the various charities around the globe. The charitable trusts are accepting these form of donation as an encouragement to the people to do more good for the underprivileged people of the world. Thousands of teachers received donations through a crowdfunding website earlier this month from a ripple network.
- Most funny part of this currencies is they can be easily hidden from the spouse. With the advancement of the technology, it has become easier for the couples to hide their money. The money that cannot be traced in husbands wallet or in the credit card statements.
- In some developing countries suffering from civil wars or political instability are buying Cryptocurrencies just to save them just in case if the national currency fails. For them saving their money is more important than keeping them in bank accounts.
- For the bartering community, it has been very successful to barter on cryptocurrency. It is the strict rule of the community not to use the money for the exchange of goods or services, interestingly 20000 members of the group have successfully used Cryptocurrencies for bartering.
- It is a new medium of investment that is not only attracting adults but teenagers are also investing into it for an extra source of income. Many colleges are offering their own Cryptocurrencies for the students and teachers. The reason behind this is, they are conducting research on these currencies.
Bitcoin the most successful cryptocurrency has captured the eyes of many investors. It is clever of all the currency with its anonymous roots it has created a mystery among the currency enthusiast. Click find out more for more reviews.