9 Incredible Uses Of Crypto Currency!

Cryptocurrency is the digital or virtual currency which has captured the people’s imagination of being the most secure mode of financial transaction. The new currency variants (including Bitcoin) have performed well over the past few years since their inception. The digital currencies are free from government and bank manipulations, electric, virtual and decentralized. The combined market of around 1350 digital currencies that circulate today is more than $500 billion!

These exciting currencies provide for faster financial transactions over the internet, and certain platforms are also federally regulated today. While Bitcoin is the best known amongst all the cryptocurrencies circulating today, the potential of others as a lucrative investment source cannot be underestimated. Cryptocurrency and blockchain have a number of other useful features as well and can end many of the miseries of the financial and real world. 

1. Wealth Management 

Cryptocurrency and Crypto assets provide for fast and exciting avenues towards the management of wealth. The Block Chain models of technology (that allow the cryptocurrency to exist), have improved transparency, accountability and security in the transactions. The flexibility removes the friction and provides for easy client on-boarding, streamline portfolio management and better compliance. The trades can also be cleared and settled at greater speed. SwissBork is one such innovative company that has allowed the users to manage the crypto assets through a digitally advanced platform.

2. Digital Publishing and Advertising 

The new technologies that relate to the pay-per-click or pay-per-page/article model of internet advertising find the use of cryptocurrency more relevant. This is so because tracking the consumption and relating it to the real-world currency is difficult, while the use of crypto-currency is more in line with the inherent structure of the digital advertising program.

3.Best Ethical Compliance

Cryptocurrencies have the greatest transparency and every single transaction can be fully traced and accounted in the least of time, without human interference. As there are no manipulations to be levied from external sources, the currency and its value cannot be altered fraudulently in any way. Hence the use of cryptocurrency promotes ethics in financial transactions at all levels and ensures accountability.

4. Electoral fraud combat

The blockchain technology, on which the security and concept of the cryptocurrency exist, can be extended to other platforms and avenues as well, to ensure transparency and fraud prevention. The use of the technology towards preventing electoral frauds is one such avenue being explored. 

5. Removing Corruption

The centralized nature of the real world currencies makes them prone to manipulations and frauds, and corruption is another by-product of the financial transactions that remain unaccounted for. Use of cryptocurrency can ensure stricter compliance with the existing norms. As every penny is better accounted, the use of cryptocurrency in all financial transactions will ensure a corruption-free economy. While many countries are pursuing a paperless and digital economy, a crypto-currency can well be the next global currency. WFP or World Food Program has already implemented the blockchain technology for distributing cash in a more secure way.

6. Environmentally sustainable

Cryptocurrency can make the earth cleaner and greener.  No papers will be required for financial transactions when the crypto currency is used. We know that paper is obtained by processing tree-wood and grass. Solar energy can be used for running technological gadgets and there are also other cleaner fuel/energy options being researched upon. As an example of the upcoming trend, Cryptocurrency is being used by a company by the name Brooklyn Micro Grid towards selling the environmental credits. 

7. Travel Related Purchases

The universal nature of cryptocurrencies is making them popular in all walks of life and transactions. A travel website by the name CheapAir has been accepting cryptocurrency towards the sale of hotel accommodation bookings, flight bookings, cruise travel bookings and car rental bookings since the year 2013.

8. Fund-Raising

While there has been no dearth of angel investors since the world economies got global, accountability towards the money that as invested was often questioned. Investors like to invest in the form of cryptocurrency today, as tracing the money and its accounting is convenient, complete and more transparent this way. Entrepreneurs are also finding it easy and relevant to fund their new ideas, products and services through the new digital currency.

9. Education

Schools rank amongst the noblest institutions and organizations and they always strive to be fair, honest and transparent in their dealings. Many schools in countries including Germany, Switzerland and United States are already accepting the ward and student fee through the cryptocurrency.  

The new buzzword in the financial world is soon to be more evident and visible in many other walks of life. The qualities of the currencies make them qualified to be adopted as the global currency and we may find paying for many more goods and services through them in near future.