What are other functions of cryptocurrencies?

[Riberet19]

With it, you can also make cross-border payments very easily without intermediaries. This is an option that many people use to make their cross-border payments.

 

[Nomad]

Crypto is a payment form as well as digital assets you can in vest and make money. interesting, not all crypto currencies are great payment form and not all crypto coins are a great investment assets.

 

[Skysaint]

Yes, in addition, it allows payments between individuals to be really easy and that there are no third parties involved from behind to carry out the transaction.

I really do appreciate the very existence of cryptocurrency, if not for the fact that you could make money from the idea, at least because of the fact that you can keep your money safe from devaluation and make contactless payments.

 

[Riberet19]

I really do appreciate the very existence of cryptocurrency, if not for the fact that you could make money from the idea, at least because of the fact that you can keep your money safe from devaluation and make contactless payments.

Exactly, there are countries with less luck than mine, in my country the currency is devaluing at 10% per year, there are countries like Argentina that devalue almost 100% per year, this is simply crazy and something that is not permissible, in this case We can trust Bitcoin, or other investments such as gold, silver, etc.

 

[Skysaint]

Exactly, there are countries with less luck than mine, in my country the currency is devaluing at 10% per year, there are countries like Argentina that devalue almost 100% per year, this is simply crazy and something that is not permissible, in this case We can trust Bitcoin, or other investments such as gold, silver, etc.

My country's economy is actually devaluating or suffering a great threat every year and this inflation thing has made it pretty worse and that's why I have decided to hold my assets in the form of cryptocurrency.

 

[Planbizzle]

Aside from using them as payment and general trade, what other functions does crypto hold in the real world?

I have heard of them offering more anonymity and privacy but everything else seems to state the opposite since they can easily be tracked.

They can be used to buy goods and services, send money, and store value over time. They are autonomous, which means that no state or central bank controls them. Cryptocurrencies are also supported by encryption, which makes them safe and unbreakable.

 

[Abigael]

Crypto is a payment form as well as digital assets you can in vest and make money. interesting, not all crypto currencies are great payment form and not all crypto coins are a great investment assets.

That is true. Cryptocurrencies are so good for online payments and for investment. But you have to be really careful what you choose to invest in or get paid through.

 

[Nomad]

That's what I was saying. Litecoin is a great payment system but when it comes to investment, litecoin might not be as profitable as other coins. Ethereum is a great investment asset, but due to high transaction fees, it is not a good payment form.

 

[Sincerem]

That's what I was saying. Litecoin is a great payment system but when it comes to investment, litecoin might not be as profitable as other coins. Ethereum is a great investment asset, but due to high transaction fees, it is not a good payment form.

That is the reason why different cryptocurrency were created. The same is also applicable to ripple coin . it is among the best cryptocurrency for transaction as it offers a very low transaction fee but that doesn't make it a better investment if we have to compare it with other profitable cryptocurrency around.

 

[Nomad]

Most of the coins have some purpose, these coins try to solve an existing problem in the financial system or even in the crypto market. For example, Liteocin was created from the codes of Bitcoin but it was made to have better transaction speed and low transaction cost.

 

[Skysaint]

Most of the coins have some purpose, these coins try to solve an existing problem in the financial system or even in the crypto market. For example, Liteocin was created from the codes of Bitcoin but it was made to have better transaction speed and low transaction cost.

There's a believe that if a coin in the cryptocurrency market doesn't serve any purpose then it should be referred to as a shit coin. Well, if that's the case then there are just as so many shit coins that one can lose count of.

 

[Nomad]

When people talk about shit coin, I don't know what they are referring to. Some people relate shit coin with meme coin. But they don't call dogecoin a shit coin despite being a meme coin.

 

[Imran_Noori]

About 99% of crypto currencies are useless because they don't have any projects behind them but some have big projects for example Vechain which has applications in logistics.

 

[Kennysplash]

It acts as a payment gateway since it is universal. There are many times I have been paid online via cryptocurrency since I have no access to other forms of payment.

 

[Potuse]

The function of cryptocurrency is very enormous and that is why he would come across different side of people supporting cryptocurrency simply because it has lots of potentials.

 

[Ononivami]

Apart from using the cryptocurrency as a form of investment which is a very popular of form it is being used, cryptocurrency could also be utilised as a payment processor.