Here are the 3 best ways to spend your precious cryptocurrencies today
Crypto is a miracle investment. It turned thousands of shy forum-loving, game-addicted teenagers into millionaires, while the majority of banks and institutional investors missed the opportunity of their lifetime.
However, if you were smart enough to get your hands on any of the 1600 cryptocurrencies available, simply holding the precious coins tucked away in a mega-protected wallet might be a bit of a turn-down.
Remember that Satoshi Nakamoto invented Bitcoin to be used on a daily basis instead of institutional printed money and the first attempts to use Bitcoin to buy (mostly) illegal stuff on Silk Road gave us the first glimpse of the amazing potential of this decentralized currency and can’t be shifted away.
Bitcoin was never meant to become an investment vehicle, it has been created to replace traditional money, finally shaking greedy banks to their core.
Today, after 10 years of blockchain inventions, banks are already part of the game and Bitcoin has somehow become the new black. And while you can now buy pizza online using digital coins, it is far from the most useful application of the blockchain technology.
Here’s an overview of a few industries that have undergone the most dramatic changes through the crypto revolution.
Most of the traditional online casinos badly lack transparency. They don’t publicize odds or show transactions and returns even on an individual level. Everything is kept under a thick layer of secrecy and the fairness check is done by third party verifiers.
With Blockchain Gambling, the process is the complete opposite. Maintained by the global system, every shuffle of the cards and every roll of the dice is 100% tracked by everybody. You don’t have to trust the casino anymore because you can fully trust the blockchain system.
However, there are a few differences between Crypto Casinos and real Blockchain Casinos. Crypto (or Bitcoin) casinos are using wallets only for transactions, while Blockchain Casinos are actually built on the blockchain network, have wallets for transactions, a fairness check and their own cryptocurrency.
A good example of a Blockchain Casino is Edgeless which disrupted the online casino industry a year ago by offering 0% house edge games. It is also one of the few ICO projects that have already delivered a product on mainnet as well as the first Blockchain Casino to receive an official Curacao gambling licence. Definitely a good place to play.
Blockchain Games is another industry where you can spend your shiny digital coins. The reason why 90% of all Dapp projects are games is simply because of anonymous transactions that can be used, for example, to buy skins on cs:go without being tracked by parents or angry girlfriends.
One of the most interesting game projects is CryptoKitties which broke the Ethereum network on its launch day. It’s intriguing to buy Kitties not because of their adorable designs but because it’s an absolutely new type of blockchain idea. It’s a crypto collectible or a crypto asset. In a nutshell, blocks are not valued at the same price as crypto coins but have a different valuation based on different qualities. Some Kitties have more desirable features, therefore the price for a single CryptoKitty block may range greatly, sometimes by 1M times. It’s the first type of blockchain asset rather than blockchain transactions that may lead to something much much bigger. Definitely a good thing to buy.
Crypto marketplaces started popping up almost at the same time as bitcoins went from being just a hobby to carrying monetary value. And if Silk Road was the corrupt pioneer of the crypto online shopping, then today’s marketplaces are both perfectly legal and full of surprises. Opensea has a platform to shop for crypto collectibles, while most of its online shops support a crypto wallet in case a buyer wants to pay in ETH instead of the traditional USD. Visa and Mastercard hate it, but cryptocurrencies are the new money.
All in all, investing in crypto is magical because it has made millions of teens into new-age millionaires in just a few years. However, investing in crypto only to make more dollars is a toxic idea, as cryptocurrencies were invented to replace traditional money, not to become some sort of a short-term investment option. If you own crypto, spend it and try to use it more than you use traditional money. Only then we will become a fully decentralized society.
This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.