The meaning of cryptocurrency in everyday life

By nervi | Crypto Journalism | 25 Aug 2019

We hear about cryptocurrencies on a daily basis in various sources of information. It appears in newspapers, television and of course on the internet. Let's think about whether at this moment cryptocurrencies make sense and are valuable in our lives?

The answer is simple - YES

You may not notice it, but cryptocurrencies are very common in everyday life. Bah! Thanks to them we have gained access to many interesting technologies. The most popular use of cryptocurrencies is of course payment for goods and services. Whether on the internet, at a friend's or in a cafe. Payments with bitcoin, ETH or other types of cryptocurrencies are becoming normality today.

When it comes to paying, you should also mention the other side of the coin, which is the value magazine. If we do not trust banks or are afraid to leave savings "under the pillow", we may consider keeping assets in cryptocurrencies. I'm not talking about Bitcoin here, for example, because its price fluctuates practically every minute and we can be lossy (or millionaires) in the future. I mean so-called stablecoins here. There are many possibilities on the market regarding the choice of such cryptocurrency. It is almost always the equivalent of one US dollar, but we can find "virtual" Euro, Pound or Brazilian Real. Good stablecoins are:

  • Tether
  • USD Coin
  • TrueUSD
  • DAI

Probably many of you have heard about decentralized applications or smart contracts. But for those who have not heard it is another opportunity to use the possibilities of blockchain and of course cryptocurrency. A decentralized application is, for example, a service or game based mostly on cryptocurrency Ethereum, on which our blockchain operates our code (i.e. DApp). The potential is huge and practically unlimited, there are currently over 2,500 decentralized applications!

Everything described above happens in public. But what if we want to do our transactions anonymously? People have already found a way! They invented Monero :> Monero is a project with an idea that surprises everything. A fully private cryptocurrency with anonymous transactions. Unlike, for example, Bitcoin - Monero works so that all your data and transactions are completely private and inaccessible to the public.

There are also cryptocurrencies that somehow work with banks. This is Ripple. Ripple is a type of cryptocurrency created for banks. It works like a payment protocol that allows any bank to send payments on an international scale without unnecessary real-time intermediaries. Solves a serious problem of international money transfer. His advantage is the lack of a partner between banks. Experts speculate that if Ripple becomes very popular, transfers between continents will be handled in a few moments. And at any time of the day!

Let's think a little different now. Do you need money for a project and would like to get it without unnecessary papers and banks? Cryptocurrency crowdfunding is open! Just create a campaign in which you describe your goal, target amount and optionally repay the helpers! An example of such a portal is the KickICO website:

As you can see the uses of cryptocurrencies and blockchain is enormous. It would be good if more and more people were aware of how they work and what benefits they bring.



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