Cryptocurrency has a great ‘attractiveness’ quotient attached with it. More and more people are looking to understand the dynamics of how a cryptocurrency works and what more can be achieved with it. The style that originated in 2009 took its time to grow but within the last five years, it has really established itself in the financial markets. Those people who are miners and those who find themselves investors have reaped in the advantages of cryptocurrency through buying, selling and trading. Investments in cryptocurrency have yielded 8-10 times profits to investors who started early and have now been constantly tracking their investments.
Trading of cryptocurrency is now an established process that you can do with digital money. However crypto casino, since it this concept is strengthening its foothold, there are numerous options setting up for it. Listed below are uses of cryptocurrency, some of which you conscious of while some would come as a surprise:
Cryptocurrency is a good method to multiply your money. Once you obtain cryptocurrency in hand, you can decide how much to invest from it and how much to invest. However, getting cryptocurrency from a reliable source is quite important. Cryptocurrencies can be found in many names like Bitcoin, Ethereum, Ripple, Indus Coin etc. While moving in for purchasing these, you will need to check on the authenticity of the service provider. Determine if they display the ticker rate and symbol on their page and the exchanges where you could trade your cryptocoins.
For e.g. once you buy from the cryptocurrency exchange like Indus Coin, you will clearly understand the features and benefits offered to you on purchase of cryptocoins. The wallet that they will provide to you is going to be encrypted with the safety features in-built. Technologically also, they are sound with P2P networking, dBFT consensus and digital certificates all in place.
After you have determined the origin of one’s cryptocurrency, you can avail off the services provided by cryptocurrency exchanges for trading. Customer care is another aspect that you must check considering that the currency is digital and payments are instant. Once all this is on order, you can invest your currency for trading and watch your money grow manifold.
2. Buy travel
The travel industry is opening to the prospect of using cryptocurrencies like never before. Hotel stays, air travel and packages may now be bought using cryptocoins. Travel operators offering customized packages find the thought of cryptocurrency really convenient since there are no conversions required once you pay using cryptocoins and it’s the fastest way of payment from an inter-country perspective as you will find no middle men involved. This also calculates to be the lowest priced method since there is no percentage kept with the banks or financial institutions once they route your payment.
3. Buy education
Wherever you will find diversities to arrive, cryptocurrency is going to be preferred. In case of educational services, payments done by students to colleges (mostly fees) have always been complex. Account transfers, wire transfers, foreign currency demand drafts and such instruments are the most used methods. However, all of these attract yet another fee once you make the payment. Moreover, they’re not instantaneous. Students across the world have now been searching for options that may ease this burden for them.
Cryptocurrency contains the ability to improve this scenario and ensure it is simple. University of Nicosia, Cyprus is the very first accredited university on earth that has officially accepted Bitcoin as a mode of payment. The payment comes through the processor Bitpay and it can be achieved in BTC. The University truly values the potential with this digital currency and has even started a course called Masters Degree in Digital Currency to prepare specialists for the future.
4. Crowd Funding
Crowd funding is really a unique method of utilizing your cryptocurrency. In the same way how any crowd funded business works, here also you can put your money on somebody else’s business and be a part of his success. Many companies that offer funds to new businesses have created a platform using cryptocurrencies for e.g. crowd funding company called Lighthouse has a platform of Bitcoin.
The way it works is that you can donate your money from your wallet to the company for a particular business. There are no charges for the donation until your money is delegated to a particular project and that one company meets its goals and objectives. Your funds remains safe with the crowd funding company before project has met its criteria. This is a good method to invest your cryptocoins and completely hassle free. You may also withdraw the donation at any point of time. Cryptocoins like Altcoin, Dogecoin may also be popular for crowd funding apart from Bitcoins.
5. Common daily purchases
Coffee shops, pizza outlets and grocery chains are opening around accepting this new form of payment. You can transact at these outlets in the normal manner and pay up making use of your cryptocurrency wallet. Wal-Mart is one of many biggest names which have associated itself with cryptocurrency. Aside from these, TigerDirect, NewEgg and OverStock may also be names which come in this category.
Inclusion of cryptocurrency in daily life has led to an enormous change towards perception of cryptocurrency and also for clearing the skepticism that the normal man still faces over the thought of digital currency.