Cryptocurrency has a great ‘attractiveness’ quotient mounted on it. More and more people are looking to comprehend the dynamics of how a cryptocurrency works and what more can be done with it. The concept 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 who are miners and those who are 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 can do with digital money. However bitcoin casino sites, since it this concept is strengthening its foothold, there are many options checking for it. Listed below are uses of cryptocurrency, a few of that you aware of although some would come as a surprise:
Cryptocurrency is an excellent way to multiply your money. Once you get cryptocurrency in hand, you can decide just how much to pay from it and just how much to invest. However, getting cryptocurrency from a reliable source is very important. Cryptocurrencies come in many names like Bitcoin, Ethereum, Ripple, Indus Coin etc. While moving in for purchasing these, you’ll need to test the authenticity of the service provider. Check if they display the ticker rate and symbol on the page and the exchanges where you are able to trade your cryptocoins.
For e.g. once you buy from the cryptocurrency exchange like Indus Coin, you’ll clearly understand the features and benefits offered to you on purchase of cryptocoins. The wallet that they may provide to you will undoubtedly be encrypted with all the current safety features in-built. Technologically also, they’re sound with P2P networking, dBFT consensus and digital certificates all in place.
Once you have determined the source of one’s cryptocurrency, you can avail off the services given by cryptocurrency exchanges for trading. Support is another aspect that you should check considering that the currency is digital and payments are instant. Once all that 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 outlook of using cryptocurrencies like never before. Hotel stays, air travel and packages may now be bought using cryptocoins. Travel operators that provide customized packages find the thought of cryptocurrency really convenient since there are no conversions required once you pay using cryptocoins and it is the fastest way of payment from an inter-country perspective as you will find no middle men involved. This also works out to be the least expensive 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 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, all of these attract yet another fee once you make the payment. Moreover, they’re not instantaneous. Students across the world have already been looking for options that can ease this burden for them.
Cryptocurrency contains the energy to change this scenario and ensure it is simple. University of Nicosia, Cyprus is the initial accredited university on the planet that’s officially accepted Bitcoin as a mode of payment. The payment comes through the processor Bitpay and it can be done 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 organize specialists for the future.
4. Crowd Funding
Crowd funding is a unique means of utilizing your cryptocurrency. Just like how every other crowd funded business works, here you can also put your money on somebody else’s business and be an integral part of his success. Many companies offering funds to new businesses have created a platform using cryptocurrencies for e.g. crowd funding company called Lighthouse has a platform of Bitcoin.
Just how it works is that you can donate your money from your own wallet to the company for a certain business. You can find no costs for the donation until your money is delegated to a certain project and that specific company meets its goals and objectives. Your funds remains safe with the crowd funding company before the project has met its criteria. This is a superb way to invest your cryptocoins and completely hassle free. You may also 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 around accepting this new form of payment. You can transact at these outlets in the standard manner and pay up utilizing your cryptocurrency wallet. Wal-Mart is one of many biggest names which have associated itself with cryptocurrency. Apart from these, TigerDirect, NewEgg and OverStock will also be names that can come in this category.
Inclusion of cryptocurrency in everyday life has resulted in an enormous change towards perception of cryptocurrency and also for clearing the skepticism that the common man still faces over the thought of digital currency.