Cryptocurrency with the passage of time is becoming extremely common among investors. According to the reading of Triple-A analytical agency, there are more than 250 million Cryptocurrency users that are registered.
So why should you be left alone in this?
Count on Immediate Edge and start showing your presence in the Crypto world. Such is the popularity of Cryptocurrency and it is increasing with time.
In this article, we are going to discuss the easy ways you are going to use Crypto in your daily life.
Practical Ways To Use Bitcoin In Day To Day Life
Do you think that you wish to use Bitcoin in your ordinary life? Yes, it is possible. We are actually using Bitcoin in our practical life. So make a study of the use of Cryptocurrency in ordinary life.
1. Online Purchase
We could use bitcoin as a mode of online payment. It is not that there is no example of it. In Italy, Bitcoin is used as the third way of payment after Paypal and an Italian Prepaid Card service called Postepay.
You won’t believe but in Italy, Bitcoin is much bigger compared to Mastercard and Visa. From another study conducted by the Kaspersky lab, it is found that around 13% of the 22000 people used Crypto as a means of payment.
2. Making eCommerce Stronger
Almost all of your purchases are from online shops nowadays. But the most important element in the overall process is fraud determination.
If you are using Cryptocurrency as a mode of payment it reduces the chances of fraud to a certain extent. Remember that cryptocurrency transfer once is permanently done.
Therefore if fraudulent measures are stopped using Bitcoin then it becomes possible to expand more and more business opportunities.
3. Scientific Advancement
There is no doubt that contemporary studies and inferences depend to quite an extent on scientific advancements. Processing and preservation of large-scale data are possible through the use of some higher technology.
Cryptocurrency involves the use of Blockchain that prepares an ecosystem for the protection of databases.
An example could be given of a company called Nano Vision, which is working on platforms allowing every person or “Global Citizen Scientist” to contribute to development.
4. Safer Foreign Money Transfer
When you are travelling abroad, carrying cash and money can be dangerous. If cryptocurrency is used, it will completely reduce the danger of carrying cash.
It also completely eliminates exchange or transaction fees.
5. Investment Tool
Bitcoin has been the best-performing asset for a decade. And there has also been scepticism and negative publicity surrounding Bitcoin.
There are reasons for it. Actually, the mainstream media has negatively projected Bitcoin.
Even people have been informed that there is a danger of around 2.7million being hacked from the Bitcoin space. People forget that banks can be hacked easily.
6. Transaction Of Value
This is another core area where Bitcoin could be used. Transfer of money is one of the areas where Cryptocurrency could be exploited.
Sending money from the UK to Nigeria? Using companies like Western Union? These services charge around 15% of the total money transferred.
Now if you use Bitcoin, almost no money or minimal money will be required by you. And the money will reach me in around 10 minutes.
So you are getting Safety, Security, and a fast pace using Cryptocurrency. What more do you need?
7. Smart Contracts Using Crypto
Using cryptocurrency you can leverage Smart Contracts to pay the remuneration to the Music artist.
Because Cryptocurrency is a decentralized platform, no money will be deducted. Automatically Artists will be getting higher payments; get the payment in full and also on time.
8. Storing For Value And Other Newer Crypto
The Store for Value is one area that is not new but alive for over 10 years now. It is possible to get into all the Crypto exchanges with Bitcoin.
You probably do not know that the value and strengths of other cryptocurrencies are expressed through the value and strength of Bitcoin.
Thus Bitcoin goes on to become a reserved currency for all other cryptocurrencies.
This can be concluded by saying that there is huge potential for Cryptocurrency.
This is also inferred through the study that Cryptocurrency becomes a potential frontrunner to be the natural currency as its promise, utility, and Trust increase among the traders.