2 Little-Known Ways to Use Cryptocurrency
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Cryptos News: 2 Little-Known Ways to Use Cryptocurrency
You have probably seen an article telling you about all the things you can buy with bitcoin. In fact, I may have even written one or two that you’ve seen. But today’s piece is a little different. We’re not going to be discussing which big-box retail websites you can use BTC at but actually interesting things you can use cryptos to solve real-world problems.
So, here we go. A few easy cryptos can change the way we do business and even the way we handle things in our daily lives.
You may never have heard of Orchid or OXT. Orchid is an altcoin that operates on the Ethereum system. When you browse online, you end up leaving a lot of data behind. Now, for the most part, the sites you browse will safeguard your information. Now with new tacking laws, you can choose whether you accept the cookies or not. But what about pixels? When’s the last time you accepted the use of pixels to track you? Facebook uses them … everyday. But the real danger isn’t from the websites you use; it’s from the internet service providers. Say you hand your information to website X in order to get a free ebook on a topic you are interested in. You were ok with giving your info to that particular website, understanding that they’ll probably email you some offers. But, your ISP was there, watching over your shoulder the entire time. In fact, it was they who facilitated the data transfer as they are providing your internet. So, you wouldn’t think that they would sell your data … but sometimes they do. Especially in parts of the world where governments don’t have the resources to keep this from happening … or the government electric company is the main telecoms company … so who is going to stop them from selling your information?
With the Orchid network, you gain access to a completely decentralized VPN where you can buy bandwidth around the globe. Essentially you’re taking the power away from your phone company or cable company when you want a secure browsing experience. So, you buy some OXT cryptos and set it up through an Ethereum wallet to get super private, super cheap proxy-bandwidth. For example, at the moment 38 OXT will get you roughly 38 gigs of private browsing … so just 20 cents per GB. Not bad at all. But maybe you are like me and just want to invest into some OXT?
Sportsbooks and online casinos have been known over the years to be frequently attacked by hackers. Not just because they are holding the data for massive amounts of cash, but because they have to check and recheck your identity and banking information to verify that no fraud is occurring. So, not only is their money at play but the wealth of personal information can be worth even more … bank account info, social security numbers, DOBs, home addresses, etc. Well, when you bet with bitcoins in places that accepts them, you solve two classic issues associated with online wagering: speed of funding and withdrawals and security.
Because of all of the checks and balances, moving money in and out the traditional way or even through other third-party services like Skrill and NetTeller, takes days minimum and up to more than a week at a maximum. With bitcoin, it takes minutes. Bitcoin is not completely anonymous, but the only thing a hacker would be able to get is your BTC address. Another aspect is because of the blockchain, it is nearly impossible to get double-charged or have any ‘unknown fees’ added.
So there you have it. Two ways to use cryptos for actual real-world solutions to common problems.