In 2021, leading cryptocurrency, Bitcoin reached its all-time high at $68,000. 2021 also saw other cryptocurrencies and blockchain technologies do amazing feats. All these made cryptocurrencies become a lot more popular.
What is even more interesting is that cryptocurrency expert, Christopher de Diego says that we will be seeing more uses of cryptocurrencies in 2022.
Christopher de Diego has been active in the crypto market for many years now, he is also an expert with many blockchain-related technologies. We had a chat with him on the global uses of cryptocurrency that we should expect in 2022.
Charities and Fundraising
When people are donating for a charitable cause or to fund something, transparency is essential. The fundraising platforms that exist at the moment, do their best to make the process transparent, but it can be done better with cryptocurrencies.
Blockchains are immutable and in addition, for public cryptocurrencies like Bitcoin, all transactions can be seen by the public.
This makes the process as transparent as possible. Christopher de Diego says people are realizing this and in 2022, we would see cryptocurrencies being used for these even more.
In 2022, expect to see more games using cryptocurrencies to function. In recent years, we’ve seen a few games making use of cryptocurrencies and they have done well so far.
These games allow players to earn real money. Players play and earn the in-game token which is a cryptocurrency that can be withdrawn to their wallets and be exchanged for other tokens or a fiat currency.
Asides from that, items that players buy in the game such as properties or weapons are NFTs that other players own and they can trade them on decentralized exchanges. These games are set to become more popular and new games using cryptocurrencies would keep coming up.
Completing Private Transactions
As cryptocurrencies become more popular, more and more companies would start accepting cryptocurrencies for payment. We have seen a number of them already across many sectors such as for purchasing cars, paying school fees and lots more. This use is set to increase in 2022.
Innovative Investment Opportunities
Most of the time, when people think of crypto investment, they think of traders who buy and hold a cryptocurrency for many years to amass profit. Over time, different innovative ways of investing with cryptocurrencies for profit have been developed.
Some of them are Defi Lending and Coin Staking, also known as yield farming. They allow traders to drop certain amounts of a token or coin and earn profit from it over time.
Digital rewards for Digital Work
In 2022, we should expect to see more opportunities for people to earn cryptocurrencies for completing tasks on the internet. People would get rewards in crypto for completing tasks such as posting contents, using a platform, or similar digital activities.
Transfer money across the world
Innovations in cryptocurrencies have made the cost of transfers reduce and have also made cryptocurrencies to be more widely accessible. In 2022 and after it, more people are going to be using cryptocurrencies to transfer money across countries and continents.
Since, cryptocurrencies are accessible across country borders. More people would make use of this because it will help them avoid the problems that come with foreign currency exchange.