With the popular rise of Australian cryptocurrency exchanges, it’s a great time to adopt crypto. Even if you don’t fancy yourself an investor, cryptocurrencies are now more useful and accessible to the public than ever before.
There are lots of ways to make use of cryptocurrency beyond simply banking on its growing value as a digital financial instrument.
1. Creating An Independent Savings Pool
For decades, the go-to choice for keeping your finances safe has been traditional banking.
Although this is meant to be under your ownership, there is always the possibility of having your account and assets frozen.
At the end of the day, the government still has jurisdiction over this and can restrict your access to your own finances should any legal issues come up.
Beyond that, holding savings in government issued fiat leaves your savings subject to a loss of value over time due to inflation as governments and central banks expand the money supply.
With cryptocurrency, you can create a savings pool that is more resistant to restriction and manipulation.
And if you choose to purchase cryptocurrencies with either a fixed supply, for example, Bitcoin has only 21M coins and it can never be increased due to the way the technology was built, making it truly scarce…
… or a cryptocurrency with a deflationary mechanism built into it like our ZIPC token, which means our supply progressively decreases over time which can lead to increases in value as demand remains constant…
You’ve effectively created a brilliant independently controlled savings pool with the potential for growth.
2. Investing in Business
A burgeoning sector of start-ups is involved directly with cryptocurrency and takes funding in that form. You can easily find Initial Coin Offerings (ICO) or startups seeking out capital with specific tokens.
If you’re interested in future-thinking investment, this is a good niche to look into. There are various promising businesses, mostly in the tech field, that are consistently seeing growth in value due to crypto funding.
3. Yield Farming
If you’re not quite as confident going full-force with crypto trading, you can simply bank on their growing interest rate.
Though the digital currency market doesn’t actually deal in the interest the same way traditional financial markets do, you can still engage in yield farming.
How this works is by staking or lending your crypto assets to get high returns.
This method still carries some risk with it, but it’s rewarding if done intelligently
4. Creating an Alternative Payment Method
When people are leaning more towards going cashless, cryptocurrency rises as a viable payment method.
More and more mainstream brands and services are accepting cryptocurrency, with some governments even legalising it as tender.
We have hit a point where crypto can already be used as payment for travel, eating, subscriptions, online casinos, buying software, getting a Tesla, and more.
5. Crypto Makes Sending Money Easy
It’s also a good way to make financial transactions private. Whether you are paying off a debt or simply sending remittances, cryptocurrency enables anonymity.
This adds a layer of security and also makes transfers more efficient since you skip much of the processes in traditional cash transfers.
On top of that, the currency you send will be accepted no matter where the recipient resides.
There is no more need for exchange rates to come into consideration as a hurdle.
Cryptocurrency is already moving past its “trend” label and becoming a legitimate financial asset.
Whether you’re experienced in investing, or you simply want to see how to make crypto work for you, there are numerous platforms that are more accessible these days.
The methods listed above are simply a good way to start in the age of digital transformation.
Our goal at B4biz is to help the everyday person embrace digital currencies and be part of the global digital economy.
In order to achieve this goal we have created an in-app marketplace for shopping, a stable currency for daily transacting, a crypto token with real world applications and are leveraging 30 years worth of global business connections to bring our members the most robust user experience in the market today.
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