It feels like Bitcoin and cryptocurrencies are everywhere at the moment; whether they’re experiencing a downturn or returning to record prices, digital assets are never too far from the financial news. Over the last decade, one of the biggest talking points, and for some, stumbling blocks, has been the practical use of Bitcoin and cryptocurrencies.
Sure, we’re hearing about how good the technology is and how the blockchain is revolutionising the way people can send and receive money online, but for daily transactions, what can we actually use them for? Well, here are a few ways to spend your crypto that might surprise you.
Online casino gaming
There has been a steep rise in the number of people playing online games with crypto. The casino industry has seen the most significant number of people making the switch from traditional platforms to crypto casinos, while the gambling industry as a whole is going through a sustained period of growth.
Perhaps one of the most unique elements of this is that it’s not localised to one country or region. The gambling industry is collectively moving forward as a global entity. Because of this global playing field, it’s resulting in alternate payment method casinos like cryptocurrency platforms developing a name for themselves.Â
Bitcoin is the primary crypto that people use to play casino games. Although there are other altcoins that have been gathering pace, particularly over the last two or three years, Bitcoin remains the main asset crypto gamblers use. It is both the oldest and largest cryptocurrency by market cap. It has such a strong market presence and is the most known to casual investors or those with a passing interest, so it’s fairly obvious how it has risen to become the most prominent in this subsection of casino gaming. They’ve grown to such a level that there are now growing industries branching off, too – such as online casino review sites like Irishluck, where people can read expert reviews on online casinos and in this case specifically, see a list of Bitcoin payment method accepting casinos. The site ranks the top cryptocurrency casinos using a range of components, such as customer service, range of casino games and overall user experience.
The rise of Bitcoin has helped to bring visibility to cryptocurrency casinos. After it hit a new all-time high this year, this has resulted in more people seeking out gambling platforms, and using digital assets to play casino games is one of the fastest-growing sectors in both crypto and iGaming.
El Salvador
In the mid-2010s, El Salvador would’ve been considered a no-go area for tourism. The country was riddled with chronic social issues until the rise of its recent leader, Nayib Bukele, who has enforced a number of strict measures to tackle crime in the country; it’s only over the last two years that people are starting to view it as a potential tourist destination.
If you use cryptocurrency and digital assets, then you might be surprised to hear that you can use your Bitcoin as legal tender in El Salvador. The success of this adoption has led to the majority of the country’s Bitcoin being held in a cold wallet, and as an appreciating asset, some financial analysts believe it could be the ticket to the expanding financial promise of cryptocurrencies.
It doesn’t matter if you’re at a restaurant, a supermarket or going to watch a movie in El Salvador, you can use your Bitcoin as you would a standard, centralised currency. Other countries are likely to follow suit, with El Salvador leading the way, and the recent pump in the price of Bitcoin could be the catalyst that sees other countries adopt this approach.
Microsoft products
As Microsoft surged back to the top of the world’s most valuable tech companies in April 2024 – a title that has since been taken off them by the AI giant Nvidia – it also announced that gamers could use Bitcoin to make purchases in Xbox and Windows store.
This news didn’t get the attention it probably should have. It’s a huge step that one of the world’s most prominent corporations has taken in adopting cryptocurrency, but because of the relative lack of coverage, we imagine you’ll be as surprised to hear about it as we first were.
Microsoft is a company renowned for its consistent evolution. While it might be its recent move into AI that has been grabbing the headlines and influencing investment, its quiet but interesting move into the blockchain world hasn’t gone unnoticed by those who have a vested interest in crypto. While this avalanche continues to pick up speed and momentum, and cryptocurrency becomes a more popular way to pay for items, Microsoft has already positioned itself in an ideal place in the market.
Travel companies
Companies such as Travala have pioneered the way people can pay for their trips abroad. Millions of people use the blockchain-based platform to seek out deal on hotels and flights. While traditional currencies and payments are still by far the most used, these companies are allowing people to use both Bitcoin and Ethereum to pay for their holidays and flights.
The idea of paying for a holiday with crypto might have seemed like a pipedream to those who first picked up the asset in the early 2010s. However, it is now one of many practical ways you can use it, and it’s the collective societal push allowing more mass adoption that could help to bring Bitcoin and other cryptocurrencies into the mainstream over the next 10 years.
Conclusion
We imagine you might have heard of one or two of these payment options, especially if you keep your ear to the ground for the latest crypto news. However, if you’re somebody who is new to crypto, and you’re intrigued by the real use cases, we hope we’ve shone a light on some of the unique places and countries where you can use your digital assets.
