Looking at one decade benchmark since the mid-2010s, when cryptocurrency became mainstream in the scope, cryptocurrency has won a certain place that is not so far from fiat currencies. On the other hand, as you can see from the FXT turmoil that occurred in 2022, the field is still a wild west and we can speculate a great potential as well as certain risks that accompany it.

Here, we’d like to take a look at five surprising things you can do with cryptocurrency to reevaluate its possible uses, which have expanded significantly over the several few years. With this read, we’re sure that you can’t help but realize how broadly it is expanding its potential on so many levels.

①PURCHASING A CAR

The first thing that we’d like to talk about that you can buy with cryptocurrency is a car. For a lot of people, buying a car is probably one of the bigger purchases in life that doesn’t happen so often. Many car dealers in many countries now accept payment in Bitcoin, and even luxury cars such as Lamborghini can be purchased exclusively with Bitcoin.

Meanwhile, the blockchain technology used in cryptocurrencies is one of Lamborghini’s areas of interest. Between August 2022 and March 2023, Lamborghini made headlines by dropping special NFTs that were purchasable each month with a theme “World Tour”.

②NEWSPAPER/MAGAZINE SUBSCRIPTION

A newspaper subscription is another unexpected thing you can buy with cryptocurrencies.

With a traditional image of mass media, especially newspapers, and magazines, it almost felt somewhat incompatible with the relatively new technology of blockchain.

While there are so many newspapers and magazines out there in the world ranging from local papers to national to global companies, the Chicago Sun-Times became the first major newspaper in the United States to make it possible to apply for subscriptions using bitcoins in 2014.

And after almost 10 years have passed since then, more and more follow its path, such as TIME magazine.

③SPORTS BETTING

In sports betting that predicts the outcome of various sports, too, the number of sports bookmakers that allow cryptocurrency payment is growing. For example, in Japan, one of the countries where cryptocurrency is attracting a lot of attention, there is a rumor that about 10% of all punters use cryptocurrency to place a bet.

So, Japanese bookmakers that have crypto deposit options have also seen great opportunities in this, and there are even a few “crypto bookmakers” such as STAKE and BC.GAME have also entered the Japanese market.

In the market, since traditional financial institutions such as banks and credit card companies tend to be reluctant to deal with iGaming operators, cryptocurrencies are preferred as an alternative, especially due to the simplicity of procedures and anonymity.

④STUDYING AT A COLLEGE

The next surprising place to use cryptocurrencies is universities. University tuition varies from one country to another, but English-speaking countries such as the United States and the United Kingdom tend to be more expensive than other European countries, and top private universities such as the Ivy League in the United States demand high tuition to study there, consistent with its reputation and history.

However, it was an interesting attempt that the Wharton School of the University of Pennsylvania, one of the members of the Ivy League, accepted Bitcoin as tuition payment in 2021 for its online program on the economics of blockchain and digital assets. There’s still a big question of whether cryptocurrency’s high volatility in value allows more people to earn enough funding to study at those universities.

Currently, in addition to King’s College in New York, European universities such as the European School of Management and Technology in Germany, the Financia Business School in France, and the University of Applied Sciences and Art in Switzerland are among those which accept tuition payments, and this number is expected to increase in the future.

⑤GOING ON A TRIP

With cryptocurrency, you can buy a car, subscribe to newspapers, and pay for your school tuition. And when you’re tired of studying, how about going on a trip, also paid by crypto?

The final unexpected place to use cryptocurrency is travel agencies. Looking at Japan again, the market is a very interesting place; it is one of the most technologically advanced countries in the world, but it also sees great value in old forms of traditional goods. Therefore paying by cash is still a lot more common in comparison to the US or other markets. But cryptocurrency is changing the market. HIS, one of Japan’s major travel agencies, accepts Bitcoin payments at its branches in the Tokyo metropolitan area.

Additionally, AirBaltic, based in Latvia, a small East European country, also accepts cryptocurrency payments. It should be noted that not only Bitcoin but other currencies such as Bitcoin Cash, Ethereum, Dogecoin are also accepted.

In this article, we introduced five surprising things you can do with cryptocurrency. Currently, in a lot of cases, Bitcoin is the only cryptocurrency that can be used for payments, though it is interesting that bookmakers tend to allow so many other currencies. Isn’t it exciting to see what we will be able to do next with cryptocurrency as its possibilities quickly continue to broaden all over the world?