2017 is the year of cryptocurrencies. Bitcoin jumped from a few thousand dollars and broke records by crossing the $20,000 barrier. The ether is higher than ever. Every day new coins appear and people buy them in a frenzy.
Are these programming codes real money or fashion that will die on time? Let’s see:
Have you ever sent money to anyone through banking channels? Different banks have different protocols, but they all have one thing in common: they charge you for it. Yes, you may say that your bank offers you some cost transactions per month, but place other restrictions where you have to pay for these specific services.
With cryptocurrencies such as Bitcoin and Ethereum, you still have to pay to transfer money to someone, but the “fees” of the treatment you offer to miners are much lower than traditional banks.
Sending cryptocurrency to someone living in a part of the world is as easy as writing an email. Just request the recipient’s address, sign in to your wallet and send the amount you want. You can then do what you do in your daily life and the money will be transferred.
Well, then the title is a little misleading. There are tons of cryptocurrencies out there, so you and the recipient may not have the same fork-forcat wallet. If the receiver is flexible (and you have compelling power), you can set up an electronic wallet for your currency at any given time.
The most acceptable currency is Bitcoin, and if you have, you will not have a problem accepting different currencies.
With financial crises everywhere and rapidly growing inflation, you’ll one day find that all those dollars you’ve saved don’t have much purchasing power in a decade. The most rational thing is to invest it in something that has not been written over time. Enter cryptocurrencies! Especially because of the way these coins are programmed, they will be very limited in trading, unlike paper currency where you can only print more.