Cryptocurrencies can empower the unbanked who don't have a debit or credit card.
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One of my classmates in high school asked me if I could buy him internet hosting and a domain name, as he doesn't have a debit or credit card. Though he has got a bank account, he is not sure if top hosting service providers support Indian banks or not!
I told my friend that one can buy goods and services online without a bank account and a debit or credit card. My friend didn't believe it.
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I decided to try cryptocurrency payment to purchase hosting services and domain names, as plenty of such companies accept cryptocurrency as payments.
I do have a bank account and cards as well. But, I tried to check whether it is indeed possible to use cryptocurrencies as a currency to buy things without recourse to a bank account and a debit or credit card.
One requires a computer or a smartphone and an Internet connection.
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To have online purchasing power, the only resources required are a computer or a smartphone and an internet connection.
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Smartphones and Internet access are available in the villages as well. The urban dwellers already have these facilities.
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One can use the power of cryptocurrency with a computer or a smartphone with Internet access.
Many merchants accept cryptocurrencies as payment currencies.
Recently, I purchased a domain name and hosting service using BitcoinCash or BCH.
Video Source
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This is my first experience of using cryptocurrency for an online purchase.
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I chose BitcoinCash, aka BCH, to accomplish my first online purchase.
BCH payments worked like a breeze.
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I am very much satisfied with using BCH as a payment currency.
BCH is faster and much more economical than BTC for day-to-day payments and purchases.
Conclusion
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Cryptocurrencies empower people to buy goods and services online (or offline).
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One requires a computer or a smartphone and an Internet connection.
It tells the power of the Internet and cryptocurrency.
Who I am
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I am from Science, Technology, Engineering, and Mathematics (STEM). I have also added "Arts" and "Fine Art" to my interests and made my interests STEAM - Science, Technology, Engineering, Arts, and Mathematics.
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I develop solutions for passwords and cybersecurity relevant to cryptocurrencies, blockchain, and blockless distributed ledgers.
I hope the entire blogging community will strive here and elsewhere.
The article was initially posted on ReadCash and LinkedIn.
Cheers!
Text Copyright © 2023 Debesh Choudhury — All Rights Reserved
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Disclaimer: All texts are mine and original. Any similarity and resemblance to any other content are purely accidental. The article is not advice for life, career, business, or investment. Do your research before adopting any options.
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Aug 18, 2023
