There’s a huge amount of buzz right now about cryptocurrencies. Regardless if you believe in the direction of the technology or not, it could still be a good idea to learn more about these coins and their potential benefits. One thing that fascinates people about the cryptocurrencies is the underlying technology that powers them, namely the blockchain. A blockchain is what allows records to be stored and distributed, but also makes them immutable so that they cannot be modified or copied.
The blockchain could transform everything: from the way that financial markets work through to social media, to new tools for developers. Each part of the world and society has the ability to be influenced by the blockchain and its decentralized technology for making new products and to distribute ownership. And as this technology is brand new, we have front row seats to witness this disruption in the marketplace.
The question now is no longer if the technology can be employed in the real world; we are far past that point. The question that businesses and entrepreneurs are asking is when and how will the blockchain enter the mainstream consciousness? And how will they be able to reap the benefits of its adoption?
19 Awesome Uses of Cryptocurrencies
While the progress for blockchain technology is only a matter of time, putting the blockchain to use for everyday situations remains unknown. Implementing the blockchain is easier said than done, and is dependent on a number of factors that are both within and beyond a company’s scope to manage.
The good news is that there is no shortage of engineers and company owners who are innovating the blockchain for the future.
Javvy is one of the the most popular and and simple to use cryptocurrency exchanges and wallet services that exists today. When customers use Javvy, they eliminate the need to use potentially dangerous unsecured web accounts and consolidates the buying and selling of cryptocurrencies in one simple location.
The organizational philosophy of Javvy has an emphasis on security whist not detracting from the ease of use for users on its platform. This is critical for Javvy, as it handles million of transactions every month in a fiercely competitive, global economy.
One thing that Javvy separates itself from its competitors is through their secure wallet service, which means that even if an intruder was to gain access to the company’s database, they would not be able to access the passwords on its servers. This extra security feature was due to what happened at the Mt. Gox exchange that had to file for bankruptcy due to hackers accessing its user’s data.
2. Divi Project
The Divi Project is a consumer-centric platform and interface that claims to make the endeavor of acquiring a “smart wallet” easier and hassle-free. To send money to and from a wallet account, one simply types in a person’s name or email address and the transaction will be made instantly.
The Divi Project is a great example of what a world powered by cryptocurrencies could look like. In order for these virtual tokens to be taken seriously by the mainstream, a variety of these platforms will be need to be used. With this technology in place, Divi could be in the prime position to exceed their customer’s expectations and legitimize the cryptocurrency market.
3. Stream Token
The Stream Token is a brand new, blockchain-based token that allows content creators to monetize their efforts. For many years, artists have struggled to make money from their content online, and have sometimes had to settle for unfavorable deals.
Stream Token could help solve this problem for content creators, as it allows creators of original content to accept tips and donations from their audience and followers. This could then give artists more time to focus on creating high quality work instead of focusing on the business side of their ventures.
Stream token pays out in various currencies and platforms, including Bitcoin and the United States dollar.
Monetha uses the Ethereum blockchain, and is now considered to be a globally recognized payment gateway for merchants and small businesses. With Monetha, they claim to support their users across a number of different channels, which includes ecommerce, mobile, and even physical stores and locations.
But what’s most important about Monetha is that it allows buyers to post and see reviews from their past transactions on the blockchain. As Monetha is decentralized, this gives each stakeholder in the ecosystem a higher level of accountability and transparency.
The bottom line is that this makes for a more secure system overall, as this puts the power in the hands of the collective as opposed to a single entity.
Shapeshift is another cryptocurrency exchange that is also easy to use. A unique selling point of Shapeshift is that users do not need to register for an account to start trading. One simply selects what coins they’d like to purchase and inputs their payment method. Within minutes, someone can have a hoard of digital tokens!
Shapeshift does not charge fees for its users, and provides real-time updates on the buy and sell amount for the major digital currencies. All of these features combined makes Shapeshift an interesting platform to keep an eye on for the future. It provides a simple interface for users to get started in the world of crypto, and has eliminated the paperwork that plagues most other systems.
The Bancor protocol allows customers to see the movements of cryptocurrencies, liquidate their coins to fiat dollars, and develop applications using smart-contract blockchains. Bancor makes use of an idea called “continuous liquidity”, which means that it can enhance the user’s freedom and protects customers from price volatility.
There are a few different uses for for Bancor platform, with one of them being that businesses can create their own form of digital tokens for their products and services.
SpectroCoin is yet another easy to use exchange that just happens to be free. Spectrocoin also provides a wallet service that is compatible with over 150 countries and 30 of the most popular cryptocurrencies. The brand even issues a physical debit card that is compatible with over 30 million different ATMs across the globe.
Another service of SpectroCoin is that it provides a platform for merchants and small business owners to accept Bitcoin online as well as in person.
Coinbase is perhaps one of the most popular and successful exchanges to date, and has raised more than $200 million dollars in funding from venture capitalists. On Coinbase, users can buy and sell a range of different cryptocurrencies, and is supported in more than 30 different countries.
As one of the largest exchanges for virtual currencies, Coinbase has managed more than $10.9 million dollars worth of transactions to date.
Bitpagos could be said to be the Coinbase of Latin America, as it transforms this continent into a world-class digitally powered region. Bitpagos is credited for the creation of various tools that can help business owners and customers in Latin America develop blockchain applications, as well as support the adoption of Bitcoin to the mainstream populace.
A good reason for Bitpagos inception is the fact that there is significantly less competition in Latin America than other parts of the world such as Asia, thus giving this platform a massive competitive advantage.
The mission of Circle is to make sending money online as easy as sending an SMS to a friend. With a few taps on the user’s mobile device, people can easily create a group or send funds directly to the recipient. There are no fees for using Circle.
In addition to sending and receiving funds from friends, family, and even business contacts, Circle continues to expand its innovation in the space of crypto and it will be interesting to see how it can complete in this increasingly crowded space of applications.
11. Make a Donation
One gripe that many would-be donors have when it comes to giving to charity is that it’s not uncommon for less than 50% of one’s funds to end up in the charity’s account. With the rise of outsourcing, the use of professional fundraising companies for charities has been endemic.
For this reason, one company called TampaBay.com has created a table that shows exactly how much money these so-called charitable organizations are spending. It highlights where your donations have gone over the last 10 years.
Fortunately, this fact could change for charities over the next few years. The unique nature of P2P transfers means that you can be assured that your money will go to where it’s supposed to by donating to the cause directly. All of this can be accomplished for lower transaction fees than traditional fundraising.
12. A Good Cup of Coffee
In Toronto, there is a coffee shop called Snakes and Lattes. This place is also home to the bumblebee Exchange. These two unlikely venues have come together, allowing customers to drink some of the best coffee in downtown Toronto, talk with cryptocurrency fans and experts, and play board games. Snakes and Lattes is one of the first cryptocurrency-themed cafes in existence today, although that is a trend that could change soon.
13. Travel the world
You can use Bitcoin to travel, too. The website Cheapair.com announced on the 22nd of November 2013 that they would begin accepting Bitcoin for purchasing flight tickets. This makes Cheapair one of the first online travel agencies to accept Bitcoin as a means of payment. With Cheapair, you can not only purchase flights, but rental cars and cruises too.
14. Buy or sell Artwork
An artist called Reininer Van den Bezemer, who is located in Amsterdam, sold off his artwork that showed a link between financial markets and people for more than 10,000 Euros. You can now see the luxury piece of art at a luxury goods marketplace such as Bitpremier.com, which provides a way for people to buy and sell collectible goods with cryptocurrencies.
15. Get an Education
One university based in Cyprus, The University of Nicosia, has become the very first in the world to accept cryptocurrencies to pay for tuition fees. Also, you can also get a Masters Degree in Digital Currencies.
16. Buy a house
Besides fashion, education, artwork and virtually anything else, you can also buy a house with Bitcoin. One villa that has a worth of of 1000 BTC was tendered on February 2015. Other notable sales include a 157,000 BTC home in Vegas, and a 1000 BTC home in Kansas. These purchases involving Bitcoin is set to increase, which is thanks to platforms such as MyCOINRealty.com that advertises homes for sale using these tokens.
17. A Fancy Car
You can use your Bitcoins to buy expensive cars, too. In December 2013, the Model S by Tesla was acquired for 91 Bitcoins. The dealer continues to accept Bitcoin for purchasing his cars, and has reportedly sold as Lamborghini Gallardo for 217 BTC.
You can now be part of a company’s success story by donating to a crypto-backed crowdfunding project. Unlike the more well-known platforms such as Kickstarter, one smaller business has decided to build their platform on the Bitcoin network. Lighthouse has decided to use Bitcoin as opposed to fiat currencies for raising funds on behalf of the platform’s various projects.
One unique feature of Lighthouse is that customers will not be charged for their donations unless the fundraising goals are met. And should a customer wish to pull their funds before its completion date, they can. This then gives full control of the the funds to the donator. Some successful startups using the Lighthouse platform include the Dogecoin, as well as a Jamaican bobsled team.
19. Travel to Space
Richard Branson, who is a supporter of the crypto movement, has decided to accept Bitcoin for his venture Virgin Galactic, which intends to send people on a journey to outer space. Other firms have taken this idea a step further, such as the case with MarsCoin, which intends to make MarsCoin the official currency if we ever colonize the red planet!