What is the use of cryptocurrency?

In the past, many people were asking, is the era of cryptocurrencies really coming? Will humans no longer use the US dollar and the renminbi in the future and switch to cryptocurrency? So many varieties, which currency should I use? Do you want to invest now?

Asked on July 5, 2018 in BTC.
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In the past, many people were asking, is the era of cryptocurrencies really coming? Will humans no longer use the US dollar and the renminbi in the future and switch to cryptocurrency? So many varieties, which currency should I use? Do you want to invest now. 

Until now, most people still don’t know what the cryptocurrency is. So let’s take a look at the use of cryptocurrency.

1. around the world

For friends who like to travel, this is a welfare. Due to the explosive growth of the cryptocurrency ecosystem over the past nine years, it is now possible to travel the world by consuming cryptocurrencies.

Established travel agencies such as CheapAir and Destinia accept Bitcoin as a method of booking flights, car rentals and hotel payments. For those who prefer to stay in the apartment while traveling, they can use BTC or ETH on CryptoCribs to book accommodation.

The development of the Bitcoin ATM market also means that travelers can now convert their cryptocurrencies into local currencies in most major cities around the world.

2. Buy a Lamborghini

You can use your encrypted currency to buy lamborghini. By using bitcoin, De Louvois, the bitcoin luxury market, has enabled “wealthy cryptocurrency traders” to buy the lamborghini, the Cryptocurrency community favorite status symbol.

3. Low-cost remittance

The most famous benefit of cryptocurrencies is the ability to send and receive payments at high cost at high cost. For example, the most recent $99 million Litecoin (LTC) transaction took only two and a half minutes and the transaction fee was only $0.40. If the transfer is collected through a financial intermediary, the cost will be much higher, and if this is a cross-border transaction, the transfer will take a few days or longer.

The low cost of trading in digital currencies such as Litecoin (LTC), Stellar (XLM) or Bitcoin Cash (BCH) makes it an excellent payment system for international remittances.

4. Conduct anonymous transactions

Privacy-centric digital currencies such as Monero (XMR), Zcash (ZEC) and PIVX (PIVX) enable users to conduct anonymous financial transactions.

This means that individuals can make money transfers without having to explain to the bank why they are sending large sums of money, what is the source of the funds, and who they send them to, rather than transferring their user data to a third party such as Facebook. Its users provide financial support. Therefore, Steemit is especially popular in emerging markets with a large number of users.

Answered on July 5, 2018.
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