Crypto has earned a reputation as a lucrative investment vehicle over the years. Despite being incredibly volatile and unpredictable, people from all across the world invest in Bitcoin and the other digital currencies it inspired, collectively known as altcoins, because of their appreciation potential, which can lead to high returns. According to recent data, Bitcoin, which is not only the originator of the crypto industry but also the most prominent digital currency in existence, has surged by more than 140% over the past year, proving it’s capable of outstanding growth. Therefore, crypto’s inherent volatility, although dangerous, is seen as a boon by risk-seeking investors as it can boost the Bitcoin price and create opportunities for quick and substantial profits.There are other factors that make crypto an appealing investment venue, such as decentralization, enhanced security, high liquidity, ease of access, privacy, the innovative blockchain technology they’re founded on, and even the widespread fear of missing out or FOMO fueled by the intense media coverage. Furthermore, the numerous stories about ordinary people achieving millionaire or even billionaire status after investing in crypto also reinforce the belief that crypto is indeed an unmissable investment opportunity. However, with all this talk about digital assets being increasingly included in investment portfolios to achieve diversification and increase profitability, a lot of people have become completely oblivious to the fact that Bitcoin and the crypto squad can serve other purposes as well. So, if you’re curious about what other uses crypto might have, this article will provide a detailed breakdown for you. PaymentsIronically enough, what we’ve now come to consider an alternative use case for crypto was, in fact, its original purpose. If we go back to crypto’s modest beginnings, when Bitcoin was created, we can see from the project’s whitepaper that Satoshi Nakamoto’s intention was to devise a viable alternative to fiat money so that users would be able to avoid all the issues related to the traditional banking system such as central controls, high fees, wealth inequality, inflation, limited access to financial services, and so on. So, crypto was actually designed to be used just as regular money and facilitate everyday transactions. Little did Satoshi know that things would take a completely different turn for Bitcoin in terms of utility and that crypto would rise to prominence as an investment mechanism and not a payment method. Although crypto can technically be used to pay for goods and services, no one really does their grocery shopping using crypto, but a lot of people purchase digital assets – mostly Bitcoin – and use them as a store of value instead. That’s because price volatility, the lack of an adequate infrastructure that could accommodate crypto payments and a hectic regulatory landscape that creates confusion among users get in the way of c
Mer. Gen 8th, 2025
