The introduction of cryptocurrencies to the world has had a dramatic effect on how people conduct commerce, art, and even communicate. The efficient nature of blockchain networks makes them ideal for multiple industries and there are more types of cryptocurrencies available than ever. Here are just some of the many ways that cryptocurrencies make life better for everyone.
Take Control of Your Finances
One of the primary ways that cryptocurrencies are improving life for people around the world is that they are providing an alternative way to store and generate wealth. Until the advent of cryptocurrencies, most forms of money were centralized. This centralization led to a skewed market where the central powers have all the control and the average citizen faces an uphill battle to achieve financial freedom.
Cryptocurrencies like Bitcoin provide an open and transparent alternative. There is no centralized group issuing these currencies. Instead, they operate as emotionless code. This structure eliminates many of the main issues faced by savers and fiat users today. Cryptocurrencies open the door for new earning opportunities and reduce centralization. As such, they are a critical component of any savvy saver’s strategy.
Cryptocurrencies empower users to regain control and build wealth over time. Some networks focus on specific tasks such as saving value like META 1 Coin. Whereas, other networks provide easy passive income features such as farming and P2P lending. These options help you to avoid common roadblocks to achieving your goals.
When you eliminate centralization, you also eradicate censorship. Public blockchains are open to anyone regardless of location, race, or gender. Users can send funding globally using these networks in seconds. The peer-to-peer nature of the technology means that the funding goes directly from your wallet to the receiver which leaves no room for censorship.
For example, there is no way to refund, block, or prevent Bitcoin transactions. Users are free to conduct commerce as they please. However, the transactions can be monitored. Thankfully, there are cryptocurrencies today that provide private transactions as part of their core technology. These tools help users to fight censorship in its many forms.
It is easier than ever to Join
Another reason why cryptocurrencies rock in 2023 is that they’re now easier than ever to join. In the past, joining a crypto network required you to convert your fiat into digital assets. The main way that people accomplished this task was through the use of a CEX (centralized exchange).
This step required users to register for an account and upload their funding to the platform. This approach lowers your privacy and security as you are now separated from your funding. Thankfully, there have been major strides made in the crypto onboarding sector.
Today’s top-performing network enables direct fiat to crypto trades as part of their system. For example, the META 1 Coin leverages the Onramper portal to streamline user adoption. This helpful interface allows you to convert fiat currency into cryptocurrencies in seconds.
It’s safer than a CEX because they don’t hold your personal information and are not targeted by hackers. Additionally, it’s much faster and reduces the number of wallets and platforms you need to use. The Onramper portal provides new users with a no-nonsense way to enter the METANOMICs ecosystem without delays.
Improve Your Saving
Cryptocurrencies are the ideal asset for fighting inflation. Inflation occurs when a currency loses value. There are many reasons that a currency could start to suffer from inflation. Overprinting is an issue that can’t be ignored. As countries continue to print fiat currency however they please to meet their increasing budgets, the value of the currency drops.
Currently, the world is amid major inflation. Some nations are at 40-year high inflation rates that have destroyed consumers’ savings. It now costs more for everything from gas to eggs. When you delve deeper into what caused this inflation you see a combination of factors that cryptocurrencies eliminate.
For one, most crypto networks use predictive issuance schedules which mean that the only time new tokens are made is for rewards to miners, stakers, or other service providers. For example, the predicted nature of Bitcoin means that no one can ever come in and print trillions of Bitcoin to lower the value for everyone else.
Find Self-Appreciating Assets
There are cryptocurrencies like META 1 Coin that integrate appreciating assets as reserves to further reduce the effects of inflation. The META 1 Coin leverages a basket of gold-related assets that increase in value over time which helps to provide token holders with self-appreciating assets that are ideal for long-term savings
Improve Your Money Sending
If you send money internationally, you’re probably paying too much. The international money sending industry has massive rates that are unexplainable other than greed. The majority of the market is controlled by large firms like MoneyGram and Western Union.
These firms control the fee structure to ensure they get profits. Currently, the average cost of sending funds internationally sits at 7-12%. This rate is cutting into the resources of the millions of immigrant workers that send funding internationally to their families through remittance payments.
Cryptocurrencies provide a more efficient and far more cost-effective method to complete this task. You can send value across the planet in seconds for pennies and directly to the recipient using crypto networks. There are also third-party blockchain remittance providers.
These groups specialize in sending funds to others via apps. This approach is far superior because the recipient receives the funding directly on their mobile device. Additionally, it’s near instant, trackable, and immutable. There is no comparison between fiat and cryptocurrencies in terms of money transfer capabilities.
Another area in which cryptocurrencies are outshining their predecessors is the banking sector. Crypto banks are becoming more prevalent thanks to their high yield and simple features. The META VAULT offers users 10% APY on your savings which dwarfs the competition.
The bank is easier to use than a traditional option as there are no paperwork requirements or gatekeepers. A traditional bank requires credit checks, personal identifying information, and much more. Crypto banks like the META VAULT offer high yields and privacy. They are easy to join and they are set up to host anyone.
The structure of crypto banks is also driving their adoption. The protocols only require the internet and smart devices. When compared to a traditional bank that needs roads, electricity, staff, security, and more, it’s easy to see why many developing nations are investing heavily in blockchain financial alternatives.
Improve Your Data Storage
Cryptocurrencies are helping people to store and access data better. The immutable and encrypted structure of blockchain tech makes it ideal for features like cloud computing and storage. There are networks like STORJ that enable users to rent out their unused HD space to others to secure rewards.
There are even networks that enables users to leverage computing and rendering services like the Render token. These networks enable users to combine their GPU powers and rent out their computational efforts to creators seeking rendering.
Data storage has taken a turn for the future thanks to crypto integration. These networks provide data access as NFTs. These data streams can be traded and sold on newly emerging markets. By converting data to NFTs tokens, users can transform their wallets into secure information storage devices.
Get Healthy and Wealthy
Getting healthy in 2023 should be on everyone’s list. After a long couple of years of pandemic lockdowns, it is safe to assume everyone could use a little workout time. Even though working out brings so many benefits, it can still be difficult to find the motivation.
FitFi is an emerging crypto movement that has the answer. FitFi networks also called, move-to-earn protocols, empower users to secure returns based on their body movements. Some apps track your steps and reward you for each one.
This concept has recently expanded with the introduction of group activities like marathons and races. These systems enable users to compete against friends and other fitness app users to secure additional rewards. Best of all, you can take all of your FitFi tokens and trade them for other cryptocurrencies like Ethereum or META 1 Coin.
Take a Staycation in the Metaverse
The Metaverse is a topic that isn’t going away anytime soon. This digital 3D environment is seen by some of the smartest people in the world as the immanent and unavoidable future of tech. There is a metaverse of all different types currently in operation. Each of the networks enables you to create digital assets and share them with the community.
The integration of NFT technology into the metaverse has changed everything. Now, metaverse users can secure real-world returns by leveraging their digital assets. For example, you can rent out your property or build for others and start winning.
There are metaverse NFTs worth millions and the list of these high-value assets is on the rise. Best of all, there are a lot of ways to get in on the action. You can even make art and sell it or trade it with others at metaverse marketplaces. The possibilities are endless when discussing this digital universe.
Connect with Others on New Levels
Cryptocurrencies are valuable tools that enable celebrities, musicians, and influencers to connect with their fans on a new level. There are networks today that allow these groups to issue commemorative NFTs that feature art, music, interviews, and more. These tokens can even act as passes for special events and concerts.
A perfect example of this strategy in use occurred during a recent METAVERSE festival. The festival hosts used NFTs as tickets which eliminated any fraud. Additionally, every attendee received a commemorative rare NFT from the event. That NFT can now be used as a ticket for other events including accessing exclusive music and behind-the-scenes footage.
Make Your Digital Art Work for You
Artists and musicians need to take notice of the effects NFTs are having on their industry. Some musicians are now releasing their music exclusively on blockchain networks. This approach ensures that they enjoy full trackability. This level of trackability can be extended to the artist who can now secure residuals on their art on many networks.
There are many reasons why you would want to take your art on the blockchain. For one, you can provide proof of its scarcity which adds value. Anyone can check a blockchain asset’s validity and scarcity using a free blockchain explorer. Additionally, you can track it easier.
NFTs can gain value in many ways. One way how an NFT may obtain added value is through its past ownership history. Imagine owning a commemorative digital asset that was once owned by a famous athlete or politician. Additionally, an NFT can gain value if the artist starts to become more popular. There is an NFT artists that hove sold tokens for +$50M.
While you may never take home a massive payday like that for your art, there are still so many reasons why going NFT is smart. It’s easy to do and you can trade your art for other tokens and cryptocurrencies. Best of all, there are now more marketplaces and gallery services at your fingertips.
Learn a New Skill
There is a lot of attention put into the front end and the effects of cryptocurrency. However, there is a massive development community that gets often ignored. Blockchain developers are in high demand and many play crucial roles in their communities.
As a blockchain developer, you can work from anywhere. As such, these creators are often able to live in remote or underdeveloped areas which enables them to stretch their funds further. If you are tired of your current career, there is a promising future in blockchain development waiting.
A Crypto Life is a Happy Life
When you examine the growth of cryptocurrencies and blockchains’ integration rate, you see a pattern form. The benefits of this technology far outweigh any downside. As such, there are now more cryptocurrencies in use across more industries. This trend is set to continue for the foreseeable future as efficiency and savings will never go out of style.