Published On: Fri, Jun 22nd, 2018

World without Money: What will happen when Cryptocurrency will capture the World?

photo/ Gerd Altmann

The hype cryptocurrency is getting globally is the sign that world will go without money in the coming years. Cryptocurrency is the digital currency that is based on the blockchain technology and encryption with peer to peer network. Bitcoin was the first cryptocurrency that has been launched in the market.

With the rise of Cryptocurrency, there are many ICOs that are ruling in the market. You can check the best ICO to invest in. In this post, check how the cryptocurrency will capture the world.

  1. Affordable Money Transfers

The best thing about cryptocurrency is its ability to process the fast and low-cost money transfer. The other modes of transferring payments take more time than the crypto coins transfer. The transfer fee is nominal and best suitable for cross-border transfers. Litecoin, Stellar or Bitcoin Cash have the low fees associated with the digital currencies. This makes them an excellent source for international payments transfer. This makes the cryptocurrency the first choice for the payment system transfers.

  1. More Investment in the Start-up

Earlier people used to invest in the IPO. But now they prefer ICO or Initial Coin Offering for their main source of investment due to popularity and good returns.  The process of investing in ICO is easy and anyone with an internet connection can become an investor for the start-ups.

ICOs are a new form to raise the capital for the start-up through the exchange of cryptocurrency with tokens. The prices of these tokens are linked to success or failure of the start-up once their trading starts in the secondary market.  Investing in the ICO is at high risk to go through the white paper of the company properly.

In the past, experienced capitalists can invest to avail the financial deal but with the advent of cryptocurrency, it has provided the opportunity to the common man to invest as well.

  1. Travel the World

Due to the exponential growth of Cryptocurrency in the last few months, it is now possible to travel the whole world with an exchange of cryptocurrency. The reputed and well-established travel agents such as CheapAir and Destinia accept the Bitcoin payment mode to book the flights, hotels, car rentals, etc. For those who want to book an apartment during the travel can exchange their bitcoin and ether on CryptoCribs.

There is the growth of Bitcoin ATM all over the world which means travelers can convert their cryptocurrency into local currency during their travel.

The airlines that participate in the cryptocurrency exchange are airbaltic, BTCtrip.com, Cheapair.com, Destinia.com.

  1. Rent or Own the Home

There is the development of Real Estate Revolution which is the decentralized platform based on the ethereum blockchain. You can now easily rent or buy the property with your cryptocurrency. The great thing about such transaction is there is no involvement of the third party. But make sure you take the deal with caution as the exchange through cryptocurrency is irreversible. Usually, the Bitcoin is used for the renting or owing to the real estate property.

There are three rental technologies on which the transaction is based. First one is the peer to peer network which allows transferring without the involvement of the third party.  The second technology is the tokenization in which tokens are treated as the securities for exchange. The last one is the secured and authentic transactions between the two parties.

  1. Investment in the Gold

Gold is the most credible asset that people want to acquire. There are some companies that exchange the gold with the cryptocurrency. There are no risks associated with the gold investment as it is the most precious asset for all the times. If you’re not sure how to deal with the cryptocurrency then you can exchange it with the Gold. This will instantly fade all your worries about the lack of knowledge of the cryptocurrency transactions and its exchange.

  1. Gift your loved ones

You can now buy the clothes, food or even the furniture products by exchanging your cryptocurrency and surprise your loved ones. You just have to search the list of retailers who accept the cryptocurrency. Amazon is the biggest retailer that accepts this service. You can buy anything from the Amazon and provide a utility item in the form of the gift for your friends or family members.

  1. Buy lambo

You can use the cryptocurrency to buy the Lamborghini. The Bitcoin luxury marketplace provides an opportunity to the crypto-rich people to purchase the car with cryptocurrency including the community’s status symbol.

  1.  Get paid to post content

Steemit is the world’s first social media and blogging platform that provide incentives. It provides the financial rewards in the form of crypto coins to its publishers for posting.

These are the uses of cryptocurrency which can be widely used to capture the market and influences the people to go cashless soon.

Author: Tech Social

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