11 Nov How to use cryptocurrency?
Cryptocurrencies can solve many everyday tasks. Of course, it should be noted that cryptocurrencies have not yet been widely used in everyday life. However, we think that this is only a temporary phenomenon. Therefore, we will try to figure out how to use cryptocurrency for everyday purposes.
Cheap Money Transfers
How to use cryptocurrency in the best way? They allow you to make money transfers anywhere in the world very quickly and at a minimal cost. For example, within the framework of the Litecoin network, a transaction worth $ 100 million was passed.
It is noteworthy that the transaction itself took no more than 3 minutes, and the commission for it was less than 50 cents. If this transaction were made through a classical intermediary, for example, the bank, the commission itself would be much more impressive, and the transfer would last at least several days. The low commissions of many cryptocurrencies make them excellent means of payment.
Alternative Storage Tool
If a person has specific accumulations, he will open a deposit in a bank. People cannot expect their accounts to be blocked. But this happens quite often, especially in countries where the legal system is terrible. Cryptocurrencies can help us since they are very resistant to censorship. Only the person who has the corresponding secret key is available to have an impact on them. Such use of cryptocurrencies will make your money safer.
An Opportunity to Invest in Early-Stage Startups
As we all know, a phenomenon like ICO has recently become popular. Simply put, this is a direction for anyone who has the Internet to invest in exciting projects. And the project creators themselves are allowed to get investments without any unnecessary problems. In fact, ICOs are a new form of fundraising. In this case, a startup sells its tokens in exchange for existing cryptocurrencies, for example, Bitcoin, Ethereum, and others.
As soon as the issued token enters the market, people begin to conduct trading activities with it. A rise or fall in the price of a token will directly reflect the trust or distrust of people in the new asset and project that issued this token. It is worth saying that in the past, only venture capitalists, who had connections and significant amounts of money, could take part in such transactions. And now, with the help of cryptocurrency, every person can do it.
It is noteworthy that the ICO sphere is actively developing. It happens because this mechanism makes it possible for ordinary investors to invest their money in projects of interest, protecting them from all sorts of bureaucratic costs and other things. I think future ICOs will be even more reliable and useful.
Several cryptocurrencies are characterized by increased anonymity, for example, Monero or Zcash. In fact, these cryptocurrencies allow completely anonymous payments, within which it is simply unrealistic to calculate the sender and recipient.
On the other hand, many say that these cryptocurrencies are chosen by scammers and criminals, which is largely true. These cryptocurrencies are often used for financial crimes, for example, tax evasion. Is it possible to say that all this is an occasion to prohibit such cryptocurrencies? Of course, no! Many crimes are also being committed through the use of fiat money, but we do not talk about the urgent need to ban the same dollar.
Cryptocurrencies allow you to make non-cash money transfers. For example, there are already many projects that allow this to be done. For example, using cryptocurrency, you can pay for mobile communications. In some stores, you can already buy something for it.
In some countries, even real estate can be purchased for cryptocurrency. Yes, it’s worthwhile to understand that while the system of using non-cash transfers in the field of cryptocurrencies is still not so developed, nevertheless, more and more projects appear that allow you to do this!
Purchase of Travel Services
It used to sound fantastic, but the sharp boom of cryptocurrencies showed how you could use cryptocurrencies to wander around the world easily. There are already many travel agencies that accept cryptocurrency as a fee for their services.
In addition, more and more ATMs are appearing in various countries that allow you to cash out cryptocurrency into fiat money. In general, we can say that the direction is actively developing, which, of course, cannot but rejoice.
In November 2013, one profile company announced that it would be ready to send people to space in the future. And they could pay for it with bitcoin. While the company has not conducted paid flights yet, they will be in the future.
However, there are already a few people who pre-paid their tickets. It is worth saying that this pleasure will not be cheap. In particular, one ticket will cost about $ 250,000. And this is probably the most exotic way how to use cryptocurrency.
How to Use Cryptocurrency to Buy Things
And now, let’s talk about how to use crypto with sophistication. Imagine that a few years ago you bought bitcoin very cheaply. For example, you bought 3,000 bitcoins. And then, you were lucky to be able to sell it at its peak.
For example, you sold it for around $ 17,000. And so, you became the happy owner of a fortune of 51 million dollars. And you want to treat yourself and buy a luxury item, for example, a fancy supercar.
In this case, you can turn to the services of the De Louvois project. This project allows you to spend the accumulated millions in cryptocurrency with delight. There you can buy any luxury items for your bitcoins, from real estate to rare wine.
Now, you understand how can cryptocurrency be used in addition to its direct purpose. In general, it’s nice to see that the cryptocurrency sphere develops very actively. And now you can buy a lot of exciting things for it and pay for various services.