5 Reasons Why Purchasing with Crypto Is Good For You
You’ve been hearing about Bitcoin, Ethereum, and many cryptocurrencies all over the web, and now you hear about various global giants taking up crypto as a payment option. I think we all went from a point of curiosity to deliberation, before finally understanding the true benefits of purchasing with crypto. So let us help you skip a few steps of internal debate and tell you straight up, why purchasing with crypto is a great option for you.
While the internet is transforming into Web3, purchasing with crypto will be more and more popular.
It’s Decentralized and Secure
Okay, what does that even mean? The blockchain is decentralized, well, and truly decentralized. This means that, unlike a bank that has sole control and record of all transactions, the blockchain network allows all users to view the transactions made on it. Each member in the network has an identical copy of the exact same data in the means of a distributed ledger. Decentralized blockchains are immutable, i.e – the data entered is irreversible. For Bitcoin, this means that transactions are permanently recorded and viewable to anyone. This in turn impacts how secure the network is, for if a hacker tries to alternate a record, they would have the only copy with this alteration, resulting in them needing to alter 51% or more of the blockchain network so that they have the dominant version. This feat would take an insurmountable amount of resources and time, and they would definitely be walled off before they can accomplish this feat.
Basically, your transactions are safe, recorded, and permanent on the network.
The world of crypto is growing fast, and it’s becoming easier, safer, and more user-friendly for anyone and everyone to be a part of.
Easy Access to Stores Around the World
There are an increasing number of global entities that are integrating cryptocurrencies into their payment mechanisms. So instead of having to pay additional forex charges and transaction fees, and face the internal panic of how much money you actually paid with the ever-changing exchange rates, using crypto is certainly an easy way out of all those financial hurdles. With one value for the currency (as per that date) you know exactly how much in USDT you’re paying for whichever item you’ve picked, and it doesn’t matter if you’re halfway across the world or not! Pick from Walmart, Tesla, Hublot, various travel agents, and so many more merchants, and your seamless purchases will just whiz through. Simple enough?
Quick Transfer of Funds
With existing banking infrastructure, it can sometimes take up to 7 entire days for cross-border payments to get validated and then settle into the receiver’s account. True enough, this is now the norm and what consumers and businesses have grown used to for decades on end, but that doesn’t mean it has to be the norm when moving forward.
The rise of blockchain technology offers a means of transferring money, contracts, and files from Point A to B in a significantly shorter time frame and with considerably lower costs.
What’s more, blockchain technology can open financial doors to those who currently lack access to basic financial services, democratizing finance around the world.
Financial Diversification Apart from Investing
For an investor like yourself, you would like to maximize returns while minimizing risks. This means diversifying what you invest your crypto in, so you don’t put all your eggs in one basket. Purchasing goods with your crypto is just that. You’re seeing your virtual money convert to a tangible (or intangible) asset in real-time, and suddenly you feel like you just gifted yourself something incredible, using what might have even been a return on a previous crypto investment!
Protection from Inflation
As an asset class, cryptocurrency is expected to have quite a close relationship with inflation, in the manner that when price pressures get hot, cryptos supposedly get hotter. Need we say more? This in itself can help hedge against inflation, protecting the wealth of investors who are looking for assets that can outgrow the increase of inflation, staying ahead of the insane cost of living that the entire world is facing right now.
What You Can Purchase With Crypto
Since we covered why we should, here’s a sneak peek of your options:
- Virtual real estate has recently emerged as one of the more prominent investment opportunities in the metaverse. By using your cryptocurrency, you will be able to purchase NFTs and virtual land on metaverse platforms.
- Be a part of something bigger – investing in Decentralized Autonomous Organizations. These could be in the form of:
- Charities – accepting memberships and donations across the globe and thereafter utilizing the funds accordingly for projects.
- Freelancer Networks – creating a contractor network for pooling of funds for office spaces, software team subscriptions, and more.
- Ventures and Grants – making a venture fund to collect investment capital and enable donors to vote on which projects to undertake, allowing for returns to be paid via the DAO network to members.
- A utility NFT can be a physical version of the digital NFT purchased, matching it in a perfectly tangible form. This also extends to more than just art, utility NFTs can also include unique access passes to events, exclusive memberships, or in-game purchases.
- Invest in companies when they launch an ICO, which is like an Initial Public Offering (IPO), that allows people to invest in a company as it raises funds for a certain purpose.
- Tangible goods – Anything and everything that accepts cryptocurrency as payment! Shop at luxury stores, buy cars, and even purchase day-to-day items! Laying the playing field for the next generation, exeno is diversifying its portfolio, enabling consumers to purchase a broad assortment of physical goods using cryptocurrencies, and shipping products to almost any country. Featuring computers, phones, and other electronics, sporting equipment, household goods, beauty products, and pet accessories.
The world of crypto is growing fast, and it’s becoming easier, safer, and more user-friendly for anyone and everyone to be a part of. Purchase goods from one end of the world to the next, enjoy safe, fast, and seamless transactions, diversify your financial investments, and beat the ever-increasing cost of living by using your crypto to make purchases! The list of what you can buy with your crypto is multiplying every minute, so start off now before you get lost among the options!