Areas of application for cryptocurrencies - more and more

Cryptocurrencies have long had a hard time escaping their bad reputation as speculative and insecure investments. The situation is now looking much better. Although there are still concerns about regulation, acceptance has increased significantly in many sectors. Here we show where digital currencies such as Bitcoin, Ethereum and Ripple are being used.

Admittedly, cryptocurrencies are still finding it difficult to establish themselves in e-commerce. One of the reasons for this is the high volatility, which can make stable pricing difficult. In addition, the fees for many cryptocurrencies are heavily dependent on the utilization of the network and cannot be reliably predicted. Irrespective of this, there are already some online retailers that enable payments with Bitcoin or other cryptocurrencies. One of the most prominent examples is the Japanese e-commerce marketplace Rakuten, with hosting providers such as Namecheap and delivery services such as Lieferando also increasingly relying on cryptocurrencies.

Not every popular online casino offers cryptocurrencies as a means of payment. If you want to play here, you can look forward to a large selection of bonuses and games, but the payment methods are limited to e-wallets, credit cards and bank transfers. However, there are also alternatives that allow payments with cryptocurrencies. This is understandable, as players can top up their account quickly and don't have to wait long for the funds to become available.

Almost all charitable organizations are positive about donations in cryptocurrencies. This also applies to most large aid organizations such as the Red Cross. In addition to traditional donation accounts, many of them have also set up digital wallets to accept payments in Bitcoin or other cryptocurrencies. One of the great advantages of this is the enormous transparency. As all transactions are stored in the blockchain, everyone can see when and how much was donated. This makes it easier to understand what the money is being used for, which prevents misuse.

One of the first industries to introduce cryptocurrencies as a means of payment was the travel industry. This makes sense as travelers are often on the move worldwide and as a result prefer flexible payment options. Not to mention that some countries such as Argentina or Venezuela struggle with unstable currencies. People from these countries therefore often have savings in Bitcoin or a comparable cryptocurrency, as it is still more stable than the local currency despite its high volatility. So far, it is mainly travel agencies that enable payments with Bitcoin. For individual activities, hotels or means of transportation, however, the situation is somewhat more complicated. However, it also depends on the country you are traveling to. Anyone traveling to El Salvador, for example, can easily pay with Bitcoin there.

The undisputed biggest area of application for cryptocurrencies is investment and, given the price explosions of the last bull runs, this should come as no surprise to anyone. Currently, the situation is no longer quite as dynamic as it used to be, but the opportunity for price increases is still there for many coins. The only important thing is to stick to established projects with real use cases. Theoretically, memecoins can also generate enormous returns. However, they are more suitable for short-term speculation than for a solid investment.