Cryptocurrency in everyday life

FinTech / September 19, 2018 / Comments: 0
Cryptocurrency in everyday life

Did you notice how popular became cryptocurrencies? 2017 was the year of the crypto boom. According to public information more than 20 millions crypto wallets were registered at the end of 2017.

The total market cap for cryptocurrency may even hit $1 trillion this year. If so many people all over the world have crypto money, then how can they use it? No doubt, that we all know how to spend the fiat money, but what about crypto money?

The biggest share of cryptocurrency is used for trading on exchange markets or for investments. Cryptocurrency holders can use their crypto by selling and buying goods, renting cars and flats and offering services, so basically they can use their digital money in everyday life. But of course, it is not like you can go to the nearest store and exchange your crypto money for a chocolate or something else. The place, where you buy something, should support crypto payments. Today you can buy something on Amazon or pay for something through the ATMs machine using different cryptocurrencies. Also, there are different popular platforms like Overstock, Akaiito and Shopify stores, which can help you to spend your digital money online and to get what you need. It’s really simple and useful service for crypto holders. So actually, how does it work?

As usual such platforms offers the next options: online market, services and rent. You can sell and buy different staffs, clothes, shoes, bags, furnitures, can rent the car or a flat, you can book a travel or order tickets, buy a gift cards and use them in more than 200 stores. You even can buy different services of translators, cleaning ladies, nanny, plumber and others.

Online market will enable to convert cryptocurrency into real products. Sellers, who want to get a crypto money, sells some goods there and buyers, who want to spend their digital money, buy products online in couple of clicks. Base for all the deals may be Smart Contract, which controls the conditions between buyers and sellers. And QR scan code capability allows confirmation upon delivery of goods.

Almost the same situation is with online market of services. Platform offers the list of specialists, who can help to solve some issues. Customer orders the service. Based on smart contract customer’s crypto coins get booked in full amount, but transaction doesn’t completes until work is done. After job is done, service seller is scanning QR code from the customer. That action is confirmed, booked coins are transferred to service seller and deal is closed. You don’t need to spend a lot of time on the Internet to find the needed specialist. Digital world makes your life easier.

Some platforms even offer you the online map of the entertainment places, where you can pay by your crypto coins.

All the crypto holders are looking for the opportunity to spend their digital money. There is a growing number of major online retailers accepting crypto payments, as well as options for small businesses and start-ups to start moving that way as well. The widest range of services is in big and the most visited countries like USA, Indonesia, United Arab Emirates, UK, Germany, Canada and Netherlands. We are sure that one day crypto money will be used all over the world, and we will not need the fiat money at all.

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