5 things you can do with Cryptocurrency

The emergence of cryptocurrency reminds me of the delay in global acceptance of card payment system prior to the 1950’s. Attempts were made to introduce card payment earlier than then, but it took time for banks and retailers to embrace it and develop a convenient system for its application. Another time as this has come again, but this time around its cryptocurrency. Cryptocurrency is a digital currency that went online in 2009 and it can be used for peer to peer transaction and settlement. This digital coin is not issued by any government or central bank and organization. It relies on cryptographic protocols and a network of users who mine, exchange and store the digital currency. Like the card payment system, the application of cryptocurrency is expected to increase. Here are some of the things you can achieve with a digital currency.

1. Online transaction

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Today, Paypal is one of the largest internet payment companies with over 157 million active digital wallets. The success of the Paypal online payment is an indication that cryptocurrency will grow with time. It is expected that cryptocurrency will outperform the Paypal system because of additional features such as identify security and zero bank involvement. Businesses like Apollo DAE are already leveraging the cryptocurrency economy to provide customers access to High-tech Digital Asset Exchange, Bitcoin, Ethereum, trading, BTC, crypto exchange, ICO, token sale. This is a welcome development and it is expected that this type of services will increase with the use of cryptocurrency.

2. Real estate

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It is no news that the American real estate industry has taken the first step to adopt cryptocurrency and states are already changing laws to allow the technology to be used in property deals. The main attraction is the blockchain technology which will be used to change how property titles are recorded and transferred. In fact, some real estate companies are beginning to experiment with cryptocurrency for things like rental payment and property acquisition.

Aston plaza and residences in Dubai announced last year that new investors could purchase studio and bedroom apartments on their websites using Bitcoin. If you are not interested in buying or renting a property you can invest your cryptocurrency in real estate business. Dubai and the U.S is a good place to start.

3. Food

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I was excited when I heard that you could use a cryptocurrency as a form of payment at KFC Canada. In fact, with just 0.0011204 units of Bitcoin, you can purchase the Bitcoin chicken bucket. McDonald has also joined the fast food giants experimenting with the cryptocurrency. The company is partnering with Ethereum-based cryptocurrency to provide an online payment system for McDonald in Thailand. For every cryptocurrency lovers, this is a welcome development and an indication that the use of virtual currency will continue to grow. This is a conversation that will continue between retails outlets, businesses and cryptocurrency platforms. Already there is an indication that the Big Macs in England, UK will start accepting bitcoin this year.

4. Gaming

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In recent years, a lot of bitcoin casino games has been created. Lovers of the casino can now choose from a range of games including Slots, Video Poker, Roulette, Blackjack, and Dice using bitcoin. The Bitcoin Video Casino is an example of such innovation. The good thing about this is that it allows the players to stay anonymous while placing bets and registration is not required.

5. Trading

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In recent times the Internal Revenue Service ruled that the bitcoin will be recognized as a property. This ruling set the pace on how the bitcoin will be traded because it exhibits patterns like support and resistance. Bitcoin swings are still greater than other currency pairs because it is new and there not enough data for a reliable forecast. So far, the best approach has been to look for pattern breaks and trade long hour chart. In addition, the binary option has been seen to include bitcoin in their transaction and this will further reduce the risk that is associated with trading on platforms only. It is good news that cryptocurrency are now part of the trading and forex traders have new opportunities for trading the currency market.