5 Practical Usecases For Crypto That Make Life Easier

Innovation is only that good as in its ability to improve the daily lives of people.

When I tell some people about crypto, they look at me as if I were speaking mandarine or some kind of alien language. Is this a sign that crypto and Bitcoin are lightyears from becoming mainstream yet?

For many, crypto feels totally absent in everyday life. And when they heard about Bitcoin, they think it has no value at all except as for a new toy to speculate with. It takes just a little bit of effort to understand its advantages.

For people that have no idea about Bitcoin or Crypto, or a negative idea: Here are 5 everyday use cases that make life easier.

1. Online Purchases

By far the number one everyday value of Bitcoin is its value as a means of exchange. You can buy stuff online with Bitcoin. It makes perfect sense that with the Internet of Money, you are able to buy products and services on the Internet. In fact, in a Western developed country like Italy Bitcoin is payment method number 3 as this study reveals! It is only surpassed by Paypal and the Italian prepaid card service PostePay. Bitcoin is bigger than Visa and Mastercard in the country of pasta, Fellini and good shoes. Can you imagine?

It gets even crazier. This study from Kaspersky Lab shows that 13% of the 22.000 people researched in 22 countries have used Crypto as a means for payment. Add to this the rapid increase in the number of people using Crypto in hyperinflation countries like Venezuela and Argentina. Well, since last week the new president of Argentina forbid the use, sale and buying of Bitcoin. Just another sign it is more than needed in countries where crypto is tried to be censored and will grow rapidly there, even underground. But that is another story, that you can read here.

2. As an investment tool

Bitcoin has been the best performing asset for the last 10 years. Period. Many people are still scared to move their fiat money into Bitcoin, but when you look at the facts and educate yourself, there is no reason at all for this scepticism. The reasons for the mistrust are:

1. the media covers Bitcoin always negative and with scepticism. Papers and news channels are owned by Media cartels that are connected to other cartels. Something as disruptive as Bitcoin, directly challenging centralized authority, never will be approached independently, fact-checked and neutral.
2. People are afraid of the danger of being hacked. This is a real danger, 2,7 million is hacked daily in the crypto space. Again, education is needed to find the most secure way to store Bitcoin and crypto. Point is, Crypto can be hacked when you leave it on centralized servers of exchanges or when you don’t own your keys. As Andreas Antonopoulos always says: Your Keys, You Coins. People forget that also banks can be hacked, Mastercard details of clients have been hacked and the list goes on.
3. Bitcoins volatility. So what? It moves up and down all the time, but something that has gone from $o to now $9000 must have some value right?
4. Well, that exactly point 4, people believe there is no intrinsic value beyond Bitcoin. For them, it is time to educate themselves a little. First of all, there is the cost of electricity for miners, then there is supply and demand. The most valuable asset of Bitcoin is the max cap of 21 million. No more Bitcoins will be ever mined.

Unlike our current money that is printed out of nothing, Bitcoin has a max cap. In time, more and more people will start to understand the value of this finite number of Bitcoins that ever will be mined. In 2140 to be precise. Nobody knows the value of Bitcoin around that time. My wild guess is that FIAT money has disappeared completely by then, so we cant express that value in Dollars anymore, but moreover what it did for the world in a positive way.