Where Cryptocurrency is Used?

Question

Since I am new to cryptocurrency and came to know about it from a friend in the UK, I wish to know where is cryptocurrency used? What is cryptocurrency used for?

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James Wayne 1 month 1 Answer 82 views 0

Answer ( 1 )

  1. Summary: A cryptocurrency is a form of the digital asset used for financial purposes, where the transactions are recorded in a public ledger and are not regulated by any financial system or central authorities. It is basically used for investment and trading purposes to gain profits.

    To most people, cryptocurrencies are typically thought of as high-risk investments for millennials and Silicon Valley insiders.

    However, what is getting somewhat lost amid the hype and speculation is that most decentralized digital currencies, such as bitcoin, were created to ‘do something’ and so have a wide range of powerful use cases. Here are some of the uses of cryptocurrencies:

    1) Low-Cost Money Transfers
    2) A censorship-resistant alternative store of wealth
    3) Invest in innovative early-stage startups
    4) Make Private Transactions
    5) Send Non Cash Remittances
    6) Get Paid to Post Content
    7) Rent out Your Spare Hard Drive to the Cloud
    8) Travel the World
    9) Buy a Lamborghini or a House

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