We live in a world where modern technology is evolving rapidly. Bank cards apply as much as cash, and maybe even more, smartphones and various internet banking apps have replaced going to the bank and waiting in line to pay bills, and so on. Just as everything around us is being digitized, so is money.
Virtual money or cryptocurrencies were created not so long ago, in 2008. The first and most famous is Bitcoin. What is interesting about cryptocurrencies is that they exist only in digital form, but have a value that is often higher than many fiat currencies. Cryptocurrency is a subtype of digital money that operates on the basis of cryptographic algorithms. Bitcoin is the first cryptocurrency in history and the first form of digital money to use cryptographic algorithms to transfer value. Besides Bitcoin, there are thousands of other currencies, but Bitcoin certainly stands out as the most popular and valuable of them. was released in 2009, this currency is growing almost constantly. Of course, since digital money is subject to volatility, it is also prone to frequent changes in value, changes that sometimes change several times a day. The current value of 1 BTC is $ 38,679.20. From the above, one thing is clear – the future is in cryptocurrencies, and we have the opportunity to invest and be patient. Or not, if you think we need to stick to the good old money.
Either way, we can’t deny that cryptocurrencies are becoming recognized as a means of payment and that you can use them to buy luxury cars, pay for vacations, airline tickets, tuition for your children, dinner at a restaurant, and even settle accounts with some companies. Many companies reward their employees through cryptocurrencies, and online stores have found a way to attract more customers by giving a certain amount in cryptocurrencies with each purchase. Wise, isn’t it?
We mentioned that you can pay for travel with Bitcoin, and here are a few reasons why it’s a good idea.
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1. Quick and easy payment
Source: themerkle.com
Paying with Bitcoin is very simple – all you need to do is have a smartphone or a smart wallet with you. With the help of the QR code, it is easy to transfer funds to the accounts of the company you are traveling with. There is no fear of fraud because the transaction is peer-to-peer thanks to blockchain technology. Of course, you need to have a secure digital wallet to protect yourself from hacker attacks.
2. It’s safer
It’s not a pleasant feeling to carry a large sum of money with you, is it? Well, you don’t have to. Why not with yourself brought another type of wallet, digital?
3. It’s cheaper
You probably know that cryptocurrencies are legal, but that they are not completely regulated in many countries, and since they are decentralized, that is, there is no central authority (Government, bank), no taxpayers. So, you travel for less money!
4. You can also make money
As we mentioned, many companies motivate us to pay with cryptocurrencies by offering us something at a better price or rewarding us with cryptocurrencies, which means that they provide you with and earn some money. It’s up to you to decide how to invest – trading or mining. Trading, as many says, is simpler because a smartphone and a reliable platform are enough for it. There are also smart applications whose work is based on artificial intelligence and which make it easier for investors by monitoring the market situation instead. You can visit this site to learn more about it. On the other hand, we have mining that is also profitable, but you need to be patient because it is much slower. What is not conducive to mining is the high consumption of electricity, which also causes great pollution of the environment.
5. Security of transactions when paying with cryptocurrencies
Source: corp.smartbrief.com
Blockchain is a background that ensures the smoothness and security of the transfer and execution of a job. Blockchain to that extent takes a step forward in the very way of thinking about security, as well as its implementation, yes according to one survey of 6 out of 10 large corporations is considering introducing a blockchain into their business. The risk can be predicted from the very nature of cryptocurrencies and background technologies, given that they are based on almost completely anonymous network communication without central oversight bodies (which is also one of the greatest advantages in other segments). At first, almost no one took cryptocurrencies seriously. That is, no one did not believe that there would be an opportunity to discuss them in serious economic circles. It is believed that a blockchain could completely revolutionize the financial world and services, especially because of its decentralized nature.
The advantage of using cryptocurrencies in tourism is manifested through the elimination of mediators, and thus the transaction becomes much cheaper, which is the biggest advantage of using cryptocurrencies.
Although cryptocurrencies are subject to volatility, many believe that digital gold is worth investing in. Many predict that the reason is more for the fact that there are a number of Bitcoins and after they are spent, there will be no opportunity to create more. Most cryptocurrencies have a predetermined – transparent money supply, and it is determined technically such as mining as we have seen with bitcoin or auto-regulation when creating new blocks in the Blockchain system. When assessing an individual currency, the question of inflation needs to be answered again. If we take cryptocurrencies, looking at them individually most of them it has pre-programmed – certain quantities of units, and if, for example, there is a loss of units from the system due to, say technical failure, then cryptocurrencies continue to show stable trends.
Source: forbes.com
From all the above, we can conclude that cryptocurrencies do not have all the characteristics of classic money, but of the three types of virtual currencies, they are most similar to money. It can be concluded that the characteristics of cryptocurrencies are: anonymity, decentralization, inflation avoidance, technical literacy and this is exactly what makes them worth mentioning and investing in.
