Cryptocurrency has a great ‘attractiveness’ quotient mounted on it. More and more people are looking to understand the dynamics of how a cryptocurrency works and what more can be carried out with it. The idea that originated in 2009 took its time to grow but within the last few five years, it’s really established itself in the financial markets. Those 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 already been constantly tracking their investments.
Trading of cryptocurrency is currently an established process that you are able to do with digital money. However bitcoin casino sites, because it this concept is strengthening its foothold, there are lots of options setting up for it. Here are uses of cryptocurrency, a number of that you aware of while some would come as a surprise:
Cryptocurrency is a great method to multiply your money. Once you get cryptocurrency in hand, you are able to decide how much to pay as a result and how much to invest. However, getting cryptocurrency from a reliable source is very important. Cryptocurrencies can be found in many names like Bitcoin, Ethereum, Ripple, Indus Coin etc. While going in for purchasing these, you’ll need to check the authenticity of the service provider. Determine if they display the ticker rate and symbol on the page and the exchanges where you can trade your cryptocoins.
For e.g. when you buy from the cryptocurrency exchange like Indus Coin, you’ll clearly understand the features and benefits offered for you on purchase of cryptocoins. The wallet that they may provide for you will undoubtedly be encrypted with all the current safety features in-built. Technologically also, they are sound with P2P networking, dBFT consensus and digital certificates all in place.
When you have determined the source of your cryptocurrency, you are able to avail off the services supplied by cryptocurrency exchanges for trading. Customer support is another aspect that you should check because the currency is digital and payments are instant. Once all that is on order, you are able to invest your currency for trading and watch your hard earned money grow manifold.
2. Purchase 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 when you pay using cryptocoins and it’s the fastest method of payment from an inter-country perspective as there are no middle men involved. And also this calculates to be the cheapest method while there is no percentage kept with the banks or financial institutions once they route your payment.
3. Purchase education
Wherever there are diversities arriving, cryptocurrency will undoubtedly be preferred. In the event of educational services, payments done by students to colleges (mostly fees) have been complex. Account transfers, wire transfers, foreign currency demand drafts and such instruments are the most popular methods. However, most of these attract yet another fee when you make the payment. Moreover, they’re not instantaneous. Students across the entire world have already been searching for options that could ease this burden for them.
Cryptocurrency contains the energy to improve this scenario and allow it to be simple. University of Nicosia, Cyprus is the initial accredited university on earth that’s officially accepted Bitcoin as a mode of payment. The payment comes through the processor Bitpay and it can be carried out in BTC. The University truly values the potential of 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 a unique means of utilizing your cryptocurrency. In the same way how any other crowd funded business works, here you can also put your hard earned money on somebody else’s business and be 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 as you are able to donate your hard earned money from your own wallet to the business for a particular business. You will find no prices for the donation until your hard earned money is delegated to a particular project and that particular company meets its goals and objectives. Your funds remains safe with the crowd funding company before project has met its criteria. This is a great method to invest your cryptocoins and completely hassle free. You can even withdraw the donation at any point of time. Cryptocoins like Altcoin, Dogecoin will also be popular for crowd funding apart from Bitcoins.
5. Common daily purchases
Coffee shops, pizza outlets and grocery chains are opening as much as accepting this new kind 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 the biggest names which have associated itself with cryptocurrency. Apart from these, TigerDirect, NewEgg and OverStock will also be names which come in this category.
Inclusion of cryptocurrency in lifestyle has resulted in a massive change towards perception of cryptocurrency and also for clearing the skepticism that the normal man still faces over the thought of digital currency.