The future of the economy? Cryptocurrencies

The future of the economy? Cryptocurrencies

By Roberto D. | CryptoFarm | 2 Jul 2019


How cryptocurrencies are changing the economic scenario

During the first years of life, the cryptomones were systems that were an end in themselves, locked up in the digital system, they were limited to the exchange between users connected to the world of cryptocurrencies. The Litecoin miners began a real revolution by creating the Segwit upgrade that gives them power of scalability. Other cryptomains have adopted the same upgrade later.

Thanks to the scalability, the currencies can replace the legal tender currencies such as Euro and Dollar. This means that they can also be used as a bargaining chip in everyday life.

Noteworthy is the position of the Japanese government which has already adopted Bitcoin in 2017 as one of the official currencies. If so many other countries adopted the same position as Japan, there could be a revolution in the world of global import and export. Exporters, who at the moment would have losses due to currency exchange, could change the fate of their business thanks to digital transactions.

Also the tourist sector would obviously have great advantages. No more commissions on payments with legal tender currencies other than one's own, increase in the flow of tourists and so on.

 

How to invest in cryptocurrencies

There are two ways to convert your money into digital coins. The first is to open a virtual or hardware portfolio in which to convert euros into one or more available cryptocurrencies. After opening the Wallet (wallet), you will need to sign up for an Exchange site where, by entering your credit card details, you will be able to buy crypto accounts and then transfer them to your wallet. This way you will only get a conversion. It will not be possible to speculate by trading.

The second method of conversion is to rely on a brokerage site. There are several online platforms, but the majority trades on CFDs (contracts for difference). Anyone who converts their money into cryptocurrency through these platforms does not become the direct owner of digital currencies but receives a percentage as agreed upon the stipulation of the contract with the online trading platform. Not having a direct relationship with the cryptocurrency it will not be necessary, in this case, to open a portfolio.

Obviously, if you are interested in buying goods and services through cryptocurrencies and at the same time investing in them, you can carry out both operations.

 

N.B. (Every article on my blog is written by me, in case one part is equal to another aricolo is pure randomness.)

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Roberto D.
Roberto D.

Born, and still living, in Italy. Passionate about cryptocurrencies since I discovered ethereum in 2016 https://linktr.ee/robertod


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