2017 is Cryptocurrencies Year. By passing the $20,000 threshold, Bitcoin soared from a mere thousand dollars’ worth and smashed records. The Ether of Ethereum is bigger than ever. Every day new currencies pop up, and people buy them in frenzy.
So, are those programming codes real money or a fad that is going to fail in time? Let’s check:
TO SAVE MONEY
Have you ever sent anybody money through banking channels? Different banks have various policies, but one thing they have in common is that they bill you for it. Yes, you might say that a few fee transactions a month are given to you by your bank, but it puts other restrictions where you are forced to pay for those services.Learn more about them at ethereumnexus.
You do have to pay for sending money to anyone for digital currencies like Bitcoin and Ethereum, but the exchange “rates” you send to miners are far smaller than what conventional banks sell you.
It is as simple to submit crypto-currency to anyone residing in any part of the world as sending an post. All you need to do is ask for the address of the receiver, log in to your wallet and send the desired amount. You can then go around in your daily life doing whatever you do and the money will be transferred.
OK, so the title is a little bit misleading. There are lots of currencies out there, and you may not have the same coin wallet, and the recipient. If the receiver is flexible (and you have the power to convince), he or she can install an electronic wallet for your currency in no time at all.
Bitcoin is the most commonly recognized currency so, if you have it, you won’t encounter any issue with specific currency adoption.
Despite financial problems everywhere and the inflation rate rising exponentially, one day you will realize out all those dollars you earned over a decade or two will not have any buying power. The smart thing is to spend them in something that isn’t likely to depreciate. Step into Cryptocurrencies! Especially because of the way these currencies are designed, they are going to be very small in use, unlike paper based currency where you can only print some out.