How is cryptocurrency used?

Cryptocurrencies can be used for a variety of purposes, such as making purchases online, transferring funds between two parties, investing in the stock market, purchasing goods such as jewellery and cars, and even earning rewards through staking. They can also be used to facilitate the transfer of fiat currencies, such as USD or EUR, to make international payments without the need for a middleman. Cryptocurrencies are also used to purchase precious metals such as gold and silver, and are increasingly being employed in so-called “smart contracts”—law-like agreements between parties that are stored and enforced via the blockchain.