USES OF CRYPTO-CURRENCY

[emma.lee1890]

 Now that you know the basics about Bitcoin, and other Cryptocurrencies, lets talk about the uses of Cryptocurrency and why they are so popular.

1) Using Cryptocurrency, one can send money to another person anywhere else in the world, with very low transaction fees, fast transactions, and with high security. This makes it a very low cost way of sending money which, unlike banks won't charge you high fees. A person sending $99 million worth of Litecoin only cost him/her 40 cents in fees and took only 2.5 minutes to process. Imagine if one had to do that transaction with a bank, it would be a much more lengthy and time consuming process.

2) On the news, a lot of you have probably heard about many people becoming rich by investing in Cryptocurrencies. A major reason many people buy Cryptocurrency today, is for a short term investment. Since Cryptocurrencies are much more volatile than regular currencies like the Dollar or the British Pound, it is easy to buy a lot of coins on a particular day and sell them after the price of the coin increases. But that is not the only way to earn money from Cryptocurrency, staking and mining are also very common methods.

3) Cryptocurrency can also be used for alternate uses like Buying Clean and Free Energy as well as helping Artists grow. This will be covered in future posts. Not only that, many Cryptocurrencies can be used to purchase items. You can use cryptocurrency for travel transactions, for school fees, and for buying real world objects