What is Cryptocurrency Used For

In 2019, a wide spreading of cryptocurrency can surprise no one. Crypto coins are used to pay for more and more real goods and services worldwide, both online and offline. This May we celebrated the ninth annual Bitcoin Pizza day – in 2010 Laszlo Hanyecz ordered pizza and he paid 10000 bitcoins for it. It was the first step of introducing cryptocurrency into the real life and nowadays there is a variety of ways to use it.

There are four top ideas how even you can use coins and get more and more bonuses for that:

  1. Buying or selling goods and services. Merchants adopt the technology of crypto payments in various trade areas. Small and big retailers all over the world start to accept in-person crypto transaction. Today you can buy a house, a yacht or a Ferrari for bitcoin or ethereum as simple as pay for food delivery to your office. Start-ups, developing crypto ATMs and applications to make crypto transactions easier, appear every year. Rate fluctuations still cannot allow bitcoin to replace dollar or euro though trends tell us that the financial system is slowly but surely turning into a crypto form.
  2. Hodling (investing in cryptocurrencies themselves). Looking for a store of value, people need an asset that will at least maintain current value or even increase. Earlier gold was known to be a reliable hedge in tough times. Now volatility of cryptocurrencies might seem too high to use them as an investment instrument. However, statistics is stubborn and it tells us that in long-term period (at least 2-3 years) putting up in bitcoin preserves and increases assets.
  3. Investing in start-ups via ICO. Since financial markets are not that developed in many countries, investing in stocks might be a complicated procedure. Start-ups that keep up with the times choose a simple way of reaching investors online ICOs instead of traditional IPOs. If you are interested in buying tokens of potential business giants in the beginning of their way, check out the ICO Rating.
  4. Transferring money. Fast, cheap and private transactions can be proceeded via cryptocurrencies. There are many countries that have already started to regulate the crypto markets, but there are still dozens of completely private services to receive or send assets in coins. You do not have to involve banks or accountants to proceed crypto transaction. You don’t need to even go out to send or to receive the money. You do not need to pay enormous percent for the transfer. And you need no documents to send or to get the money. It is almost free and can be easily tracked in the blockchain of the coin.

 

 



 

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