How is crypto being implemented in everyday life
Cryptocurrency is probably the most famous currency at the moment throughout the whole planet, but although many have heard of it, most do not know why it is so important and what’s the big fuss on it.
To start off with the basics, cryptos are digital currency which, just like real money, can be stored inside a wallet, though in crypto’s case, they will be stored inside e-wallets or into files inside your computer.
But, why crypto?
There are over thousands of cryptos around the world, most of them, if not all, you can trade real money for them. The value of these coins vary drastically with the most popular of all being the Bitcoin with a single coin value of approximately 42,000 USD.
Of course as mentioned above, not all cryptos possess the same value, with some of them going all the way down to a coin value of 0.00035 USD, with that said, coins that have that value are most probably new coins that are still awaiting a good rise.
More control over your own money
Keeping a lot of your money at home comes with major risks and thus, most of us deposit money into the bank trust of choice for ‘safe keeps’. Unfortunately though, when the slightest of an economic crisis, will start causing serious stress and then the worrying for the ‘safely kept’ money starts to creep in.
Due to this reason many banks are feeling under threat, thus, they are filled with fear, uncertainty and doubt, or in short, fud, fud in crypto is normally used when a trader sells his investments on a low, which will result in a loss of profit. This is mainly caused due to uncertainties of failing and fear of making the wrong decision, irrational ones.
Crypto currencies on the other hand allows full control over one’s own money ,mainly due to the fact that there is no control by third parties involved. Crypto allows you to transfer money safer since transfers are done with an anonymous id.
Transactions made by crypto users are stored by a type of technology we call Blockchain. Blockchain’s sole purpose is to track and keep records of all the transfers being made using crypto currencies, which will then be converted into cryptic data so that anyone can take note of.
Making worldwide transfers and transactions safer
Many people make the use of bank cards or cash when travelling to another country. When this is done, glimmers of anxiety get implemented inside, a sort of fear for your money. Most keep the wallet in their front pocket or in the bag to have full protection. But you still won’t get full protection, if someone snatches your belongings, they get the money nonetheless, however with crypto there would be a reduction in the needs of carrying cash or banking cards in person, even so eliminating any transactions fees made and transfers fees as well.
This will result in the consumers and vendors having more money inside their pockets.