Exploring the Practical Applications of Crypto For Beginners

Long gone are the days when you were limited by what you could do with crypto, now there’s a plethora of options available. However, if you’re not that well-versed in the crypto sphere, you probably have very limited knowledge of what you can do with this currency. Luckily, we are here today to give you a list of practical applications of crypto for beginners.

Online Casinos

The world of crypto has become heavily intertwined with the world of gaming, especially when we think of online casinos. This industry is well known to be at the forefront of tech advancements, and if you think about it, they have introduced the genre of casino games to a wider client base.

After all, this digital counterpart of brick-and-mortar locales has allowed players to enjoy games not only online via their PCs, but also on their phone or tablet. With this in mind, it’s not surprising that it was also one of the first sectors to welcome crypto with open arms.

For instance, players can now dive into roulette online by simply making a crypto deposit rather than through more mainstream routes like debit/credit cards. And paying with crypto – be it Bitcoin, Litecoin, Ethereum, or any of the other accepted digital currencies – will give you access to all of the same games and variants, without any limitations.

From classic options like American Roulette and European Roulette to more modern ones like Double Dragon Roulette and Zoom Roulette – everything is available with one simple deposit. You can even enjoy a game of Live Dealer Roulette, where you can play with an actual human and chat with other players. This is ideal for those who are looking to take the immersivity to the next level.

For those worried about how volatile cryptocurrencies can be, fret not. When you make a deposit, it is automatically converted into the standard currency used by the online casino, which is also known under the moniker of crypto casino. As such, everything you deposit or withdraw will be at the current price.

We’d also like to mention that cryptocurrency payments are typically faster, along with lower transaction fees. This is felt by both the payee and payer, who can benefit each in their own way, but we’ll focus on how you can benefit from this.

Apart from having smaller fees to pay, your first deposit will be matched by up to $2500 with a crypto payment. This is compared to a match bonus of $1500 with a traditional payment. As you can imagine, this will greatly boost your bankroll.

Investing

This might seem like an obvious application to your crypto, however, there are still people who look down on crypto in the investment world. This is mainly caused by misinformation that is prevalent in this space. Another reason is the ongoing perception that it’s just a trendy currency that is going to flop sooner rather than later.

However, it would be ill-advised to lump all currencies in one big pile, as every one of them is different. Some of them are more stable, like Bitcoin and Ethereum, while others are more eco-friendly like Cardano and Solana. Some are reimagining completely what cryptocurrencies are, such as Ripple, which is set to become an alternative to SWIFT in the next decade or so.

Thus, when you do decide to invest, it is very important that you pick the right currency. Whether you’re looking for something more short or long-term, there is a currency out there for you that will fulfill your investing needs.

Ultimately, as volatile as the crypto market is, it is not that different from any other asset, there are plenty of risks and rewards to be had. As long as you have a good understanding of the industry, along with ensuring you stay up-to-date with all the latest news and trends – you should be more or less set.

How to Get Started with Crypto

Before you can pay for services/products online or invest in crypto, you’ll need to actually own some. To start this, you need to have an account with a reputable crypto exchange like Binance, or even a neobank like Revolut. From there, you will simply need to pick a currency and pay for it using the traditional methods you are already used to.

Once you own some, you need to also learn about the different types of storage methods available. Just like cash is typically kept in a wallet, you need to do the same with cryptocurrencies. Here, there are mainly two options, hot and cold wallets, the former is always connected to the internet while the latter is offline.

Lastly, you need to simply decide what to do with your crypto. While we have discussed some of the top ways you can do it above, there are actually so many more things you can do with it. For instance, you can order takeout or buy tech products using crypto, and we can expect that this list will continue expanding as time goes on.

Conclusion

From enjoying a quick game of roulette to planning your financial freedom via investing – there are plenty of practical crypto applications. By having a deeper understanding of crypto basics, you can leverage the knowledge to improve several aspects of your life. So, now that you are aware of how useful it can be, we can’t see anything stopping you from joining this high-tech world.