Digital currency or Cryptocurrency is getting more attention and becomes a hot topic of discussion on internet, media and even government attention has strengthened the argument about the the use of digital currencies in trading.
This is a new and little technical formation of money for the common man and that is the actual reason of rising fears about the credibility of Cryptocurrency. Even though people are connecting to know the available opportunities related to these digital currencies.
It would be great to know about Cryptocurrency or digital currency before starting the discussion over the uses of Cryptocurrency. Digital currencies, or Cryptocurrencies, are currencies jumbled as revenue of exchange without the assistance of a third party.
What Are Uses Of Cryptocurrency?
There are number of uses of digital currency you can use it for trading and business. Following are uses of digital currency.
You Can Buy Goods
You can Cryptocurrencies to use different goods even you can use Cryptocurrency to pay for a college degree or college fee. You can use Bitcoin for both online and offline payments. You can use Bitcoins to pay for hotels, flights, jewelry, apps, computer parts and different online transactions as well.
You Can Invest
Presently this cryptocurrencies are considered as the hottest investment opening available. Majority of people are taking it as an opportunity and investing without any hesitation. There are number of people who are claiming to be millionaires through their Bitcoin investments. There different types of digital currencies and Bitcoins are the one of the familiar and reliable digital currencies. If we talk about the value of Bitcoin last year one BTC was valued at $800. In November 2017, the price of one Bitcoin topped at $7,000.
Business Payments
You can accept cryptocurrencies as payment same like accepting cash. You can withdraw cash from Coin ATM Radar presently lists around 1,800 ATMs in 58 countries.
Unfortunately Bitcoin is currently primary used a speculation object. I would really love to use it for a few of my daily transactions, but therefor it has to evolve. It has to be more consistent, faster and cheaper. It's not usable when from time to time fees up to 20$ are possible.
Hopefully they will fix these issues with the lightning network and it bitcoin can prevail on the market.
I would really love to mainly use bitcoin.
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That makes both of us ... that is why I have invested in it.
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You forgot one important point. You can easily, fast and cheap send money all over the world. Compared to fiat where it can take weeks to send money in third world country.
Furthermore it's cheaper to use it abroad. Recently I was in asia and there are so many fees. First you have to pay a fee to trade your money, then you have a fee to withdraw from the atm, another fee to pay with your credit card in foreign countries.
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I believe cryptocurrency is taking its time and we will see it beating the FIAT in the short run.
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