Many established technology giants (IBM, Microsoft, Honeywell, etc.) and startups (Rigetti, IonQ, Xanadu, etc.) are in the race to build a fault-tolerant and scalable quantum computer. However, we presently can only access Noisy Intermediate Scale Quantum (NISQ) devices wherein limited coherence times, gate imperfections, and readout errors affect the performance of quantum computers. It is therefore important to benchmark how well these NISQ devices are able to implement quantum information and computing tasks. In our work, we use various Quantum Key Distribution (QKD) protocols for benchmarking these NISQ devices. We study the effects of amplitude damping noise on the secure key rate of various QKD protocols. Another feature of these NISQ devices is their sparse nearest-neighbour connectivity, thereby making them a suitable platform for implementing Ising-type nearest-neighbour interactions. Hence, we also explore the suitability of NISQ architectures for simulating quantum dynamics, with a specific focus on spin Hamiltonians with nearest-neighbour interactions.