It all began when a Japanese man, Satoshi Nakamoto, gave birth to a cryptocurrency back in 2009. Since then, cryptocurrency has only seen its popularity rising.
The last couple of years has taken cryptocurrencies to unprecedented heights.
Today, there is a buzz all around about crypto. Investors and businesses are rushing to embrace crypto in one form or another.
Carl Runefelt is a global crypto leader and investor who has invested in over 350 crypto startups. He believes the future is all crypto.
He says, “Cryptocurrency is recognized across the world and is not affected by exchange or interest rates. It would also provide individuals living in economically fragile nations more stability and predictability.”
But despite its popularity, some people are afraid to invest in crypto due to the high level of volatility.
Then there is another group of people who hold this conviction that crypto will revolutionize the global financial systems, eventually replacing the traditional fiat currency.
Let’s explore some of the incredible uses of cryptocurrency today.
Low-Cost Money Transfers
You know the pain point; you transfer your money from the bank, and it takes a couple of days to complete the transaction.
On top of that, you have to pay a high transaction fee to make it happen. It hurts, doesn’t it?
With cryptocurrencies, it’s not the same. You can send payments across the borders with a minimal fee, and the transaction completes at unimaginable speed.
Here’s a recent transaction: the transaction of 99 million dollars of Litecoin hardly took a little over a minute, and the transaction fee?
A minuscule 0.40 dollars!
This is because no intermediaries demand their unjustified fees from your money when dealing in crypto.
Carl Runefelt, while speaking on his YouTube channel, The Moon, says, “The best reason to invest in Bitcoin is the absence of physical institutions, which enable people to make transactions in Bitcoin with ease.”
Luxury Destinations Accept Crypto Payments
Yes, that’s true!
With the crypto boom, many businesses have started accepting crypto as a form of payment.
If you are planning to stay at lavish hotels or opulent resorts, keep your crypto wallet accessible. For instance, if you happen to stay in Dolder Grand Hotel in Zurich, your Bitcoin savings will cover your expenses.
Not just this, numerous travel booking platforms like Travala now accept multiple cryptocurrencies as payments.
Another reason to start investing in Bitcoin, right?
Carl Runefelt adds, “I am very confident that Bitcoin is a very good investment. I believe that Bitcoin is not only going to go to $500,000, I think that Bitcoin is gonna go to five million dollars per Bitcoin in today’s money. Obviously, with inflation, Bitcoin could go to trillions of dollars per Bitcoin. Actually, it will because it is inevitable, but because the dollar will collapse at some point.
A Digital Coffer That Secures Your Wealth
If you’ve been following the news lately, you’d know how the West has frozen and confiscated wealthy Russians’ funds – now inaccessible for them; literally lost.
With cryptocurrency, that’s never going to happen.
Rule of thumb: never trust ANYONE with your hard-earned money.
Then why entrust banks with your cash? There are times when individuals’ funds have been frozen merely on suspicion.
That shouldn’t happen; you’ve rights!
Well, crypto is the answer to that too. Imagine your cryptocurrency as an alternate store of wealth. And no one can get it from you.
When you have crypto, you have your private key to access your digital wallet – insurmountable security right there!
Carl Runefelt expresses, “Bitcoin is the only money in the world that has no political attachment. Your bank money can get frozen, or your gold can get confiscated, but with Bitcoin, you can literally cross a border with your private keys in your head, and you can travel the world with millions of dollars literally stuck in your brain. This is something that has never been possible before.”
Crypto is Powerful Non-Profits
You couldn’t be more wrong in thinking that crypto is only meant to reap profits.
Cryptocurrencies are fast becoming the mode of payment for donating to charities.
Blockchain technology makes crypto charities transparent, cost-effective, and faster than the traditional method. Carl Runefelt regularly donates to charities with Bitcoin. In one instance, after donating to a charity for special children, he expressed, “My little brother is severely disabled. This is the main reason why I care so much about children with disability. Because I know from first-hand experience what it can look like for the children and for the families around them. So, donate Bitcoin to these charities.”