Best Use Cases For Cryptocurrency
Cryptocurrency is the digital currency, it secures all major transactions and also verifies the transfer of assets. Cryptocurrency makes trading easy anywhere in the world because it is a decentralized currency.
It is not regulated by a central authority, like a bank. Cryptocurrency uses blockchain, which records the transactions using cryptography, to enhance security. Bitcoin is the world’s first decentralized P2P cryptocurrency. With its avant-garde aspects and prime features, Bitcoin has been successful in reforming the FinTech industry to a great extent. Inspired by Bitcoin, a few other cryptocurrencies that have been recently introduced in the market include Ripple, Litecoin, Dash, Ether, and Monero.
This technology has taken a wave of decentralization which is going to reach over all the world. It has started with many business industries and going behind the expectations of people. With cryptocurrency, things are now moving in the right direction to compare before. Using fiat currency, It encourages violent crime by making robbery pay off and drug dealing and illegal immigration profitable and various other issues that have to envelop us and obstruct our global development.
Easy accessibility:
The need for building a fast, accurate and reliable transaction method was always there but has never been executed before the birth of cryptocurrencies. The various international payments were the biggest headache for both the consumers and service providers. Whereas now you can make cryptocurrency transactions securely with one click and in a matter of minutes.
Hotels:
Some of the hotels and restaurants are started to accepting BITCOIN(Cryptocurrency) For payments. It is useful for the online transaction for more secured by using blockchain technology. They also offered crypto payment options on their websites it helps the customer to see the total at an exchange rate are set by the trading platform and also it will reduce the wait times. Some of the popular hotel management are planning to launch their own cryptocurrency for their customers’ needs.
Travel industry:
Cryptocurrency also works in travel industries, for booking flights, traveling tickets, etc, Travels and tourism are ready to offers opportunities for the cryptocurrency holders. They also offered special bitcoin tour packages so it engages more customers for their business.
Cryptokitties:
Cryptokitties are the first use case of Non-Fungible Tokens. This game allows the user to buy, sell and trade unique digital assets in the form of virtual cats. The most popular platform in use for the development of Non-Fungible tokens is ERC-721 Protocol.
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