Cryptocurrencies have exploded in popularity in recent years, but many people are still unsure how they can be used practically in their everyday lives. So here are six examples of cryptocurrency uses in everyday life:

1. Sending Money Across Borders: Faster, Cheaper, Better

Traditional international money transfers can be slow, expensive, and riddled with hidden fees. Banks also often charge hefty transaction fees, and beneficiary banks may tack on additional charges. For example, sending $1,000 to a family member in the Philippines traditionally could rack up fees of $30 or more. Cryptocurrencies offer a faster, more secure, and often cheaper alternative to that. Let’s look at an example of how people save money by transferring money with cryptocurrencies.

Case Study: Supporting Family Overseas

Let’s imagine Maria, a Filipino nurse working in the United States, needs to send money home to help her parents with unexpected medical bills. Traditionally, Maria would likely use a money transfer service like Western Union or MoneyGram. These services typically charge a percentage of the total amount being sent, often with minimum fees. At the same time, her family may face additional fees from their local bank when collecting the funds.

With cryptocurrency, Maria can send money directly to her parents’ digital wallet, bypassing the middleman (in this case, the bank) and their associated fees. Transactions usually only take a few minutes to complete, and the security of blockchain technology ensures the funds reach their intended recipient.

2. Paying for Everyday Services

While not every store accepts cryptocurrency yet, many businesses are rapidly adopting cryptocurrency payments. Major corporations like Microsoft accept Bitcoin for Xbox games, and PayPal allows users to buy and sell cryptocurrencies within their online wallets. Even tech giants like AT&T are exploring ways to allow customers to pay their phone bills with cryptocurrency.

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3. E-commerce on the Blockchain

Shopify, a major e-commerce platform, allows merchants to accept a variety of cryptocurrencies as payment. This opens doors for online shoppers to seamlessly use their cryptocurrency to buy a wide selection of products. The possibilities are as diverse as the Internet allows. From using cryptocurrency to shop for clothes and electronics on popular stores like Overstock.com to booking trips on travelocity.com, you can do it all with cryptocurrency.

4. Topping Up E-Wallets for Meals and Rides

The integration of cryptocurrencies with e-wallets is another exciting development. Services like Grab, a popular ride-hailing app in Southeast Asia with over 20 million users, now allow their users in Singapore to top up their e-wallets using cryptocurrencies like Bitcoin, Ethereum, and several stablecoins. This means holders can use cryptocurrency to pay for everyday needs like taxi rides, food deliveries, or even their morning coffee at a local café. As long as their merchant accepts payments through the GrabPay e-wallet.

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5. Earning Income While Mapping and Tracking Roads in Real Time

Cryptocurrencies are also opening doors for new ways for people to earn passive income while on their daily commute. Take Hivemapper for example, a project leveraging blockchain technology to create a high-resolution, street view of the world. Hivemapper rewards drivers and cyclists with HONEY, Hivemapper’s native token for capturing street-level imagery as they travel. This data is then used to build a more accurate and up-to-date global map. Other users will then have to pay in HONEY to use the map.

6. Share Royalties While Supporting Your Favorite Artists

Forget just streaming music – artists like Rihanna and The Chainsmokers are using NFTs to share ownership with fans. A week before Rihanna’s Super Bowl Halftime Show, her producers partnered with Anotherblock to sell 300 NFTs, which lets holders receive royalties to one of her most popular songs. This means dedicated supporters can now co-own their idol’s songs and earn a cut of their favorite artist’s royalties.

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According to Bitwise, a crypto assets manager, we are still in the beginning stages of using cryptocurrencies in our daily lives, but these cases are very promising in the future.

In all, cryptocurrencies as a whole are still evolving, but their potential applications in our daily lives are becoming increasingly clear. From sending money internationally to making everyday purchases, cryptocurrencies offer a faster, more secure, and potentially more cost-effective alternative to traditional financial systems. Whether you’re looking for a way to support family overseas, shop online for your favorite gadgets, or even earn crypto while you commute, there’s a growing range of real-world use cases for cryptocurrencies.