The Use Cases of Cryptocurrency

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Avatar for RowanSkie
4 years ago

I look around the internet, and there are some parts that I don't even think is actually supposed to happen. This, of course, is the use cases that arrived since Bitcoin has been created. This is a little short article as I don't think I've fully researched enough about this.

1. Gambling

This is a use case that is prominent when you search a cryptocurrency faucet and find that it has a Dice option. Dice is one of the most primitive forms of multiplying your cryptocurrency. Then, outside these faucets, there are actually online casinos and game sites that use Cryptocurrency as their own monetary feature.

Examples include:

  • BCH.games

  • BetFury.io

  • Blockchain.Poker

You can find referral links for these sites here: https://read.cash/@RowanSkie/the-referrals-list-f0853792#games

2. Virtual Assets

This use case is more apparent in games that use a virtual marketplace. Blockchain technology allows complete tracking of items through its transactions, and by creating a specific token in a chain and pass it around, you can use blockchain analysis to see who built it and who got it.

Examples include:

  • Sandbox.game

  • Prospectors (WAX)

You can find the referral link for this site here: https://read.cash/@RowanSkie/the-referrals-list-f0853792#games

3. Money/Coin Exchanges

This is a use case that's taken for granted as it's everywhere at this point. This use case is actually important as it allowed a way to exchange Bitcoin to other currencies, including cryptocurrencies. Other cryptocurrency exchanges have even implemented a specific coin/token that they can use to earn from it such as Binance Coin. Some exchanges even use these tokens to let others have fee-less exchanges, like the CoinEx Token.

Examples include:

  • Altilly

  • Anycoin.cash

  • Binance

  • CoinEx

  • Cryptophyl

  • OKEx

You can find referral links for these sites here: https://read.cash/@RowanSkie/the-referrals-list-f0853792#exchanges

4. Dark Web Websites

This is a special use case because you really wouldn't want to use them unless you really want to. These websites use Bitcoin and Monero. A lot. Most of the forums require you to pay 0.025 to 1 BTC for access. Even some of the illegal items need high fees.

5. Speculative Asset

Being a very young contender and a very dangerous enemy of the central banks, the United States declared Bitcoin to be an asset. Bitcoin is also heavily limited. Speculation only exists for them to lift and lower the prices.

6. Payments

Your regular use case that *should* be the main use case, but because of Bitcoin being crippled via 1 MB and unsafe payment methods, this is the least seen use case ever.


Outro

We're definitely not peer-to-peer electronic cash yet, but Bitcoin Cash will surely be able to take care of it soon enough. Until then, best to keep using Bitcoin Cash as it truly meant to be: peer-to-peer electronic cash.

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