Cryptocurrencies are the buzz of the time. With the markets across the globe plummeting due to the coronavirus crisis, cryptocurrencies stand out as an alternate instrument for international digital transactions. But how to use these virtual currencies? How to choose which one to choose to start with, when thousands of such coins exist in the market? We propose to start of of most cheap, most popular, but start – because its really new vision of money.
First, what are cryptocurrencies?
Cryptocurrencies are the digital currencies that are built on the foundations of blockchain technology. These virtual currencies can be considered similar to tokens in the real world only, they are much more transparent and secure.
Now how to use cryptocurrencies?
Well, there are thousands of cryptocurrencies for you to explore but most of these are copies of Bitcoin (the very first cryptocurrency).
The first thing you need to do is to acquire a cryptocurrency! Research on various kinds of cryptocurrencies and choose where you wish to invest as per your need. To acquire cryptocurrency, you can buy some of them from an online cryptocurrency exchange. The important thing is to cross-check your crypto exchange and make sure it is secure and robust, just like Green Exchange.
Once you own some cryptos you can either hold it, trade it for other cryptos or spend it.
Hold your Cryptocurrency
If you invested in Cryptos thinking of getting an incredible return on investment then you should build an investment portfolio with your cryptocurrency. You can hold your cryptos so that when their value increases, you can make profits. Make sure you balance your cryptocurrency with more conservative investments to avoid a significant loss as any cryptocurrency is a relatively risky investment.
Make low-cost transactions across the globe
Cryptos are particularly known for making extremely low-cost transactions possible. Recently, a $99 million litecoin (LTC) transaction took only two and a half minutes to process and cost the sender only $0.40 in transaction fees. This gives you the freedom to make very small transactions at almost negligible fees.
Use Your Cryptos to spend money online
Various online retailers across the globe accept cryptocurrencies as payments. From tech giants like Microsoft to established travel agents such as CheapAir and Destinia accept bitcoin as a payment method to book flights, car rentals, and hotels. You can even use your cryptos to travel into space. Virgin Galactic, announced in November 2013 that they are accepting bitcoin payments for space travel bookings.
As the crypto market is expanding many local merchants and service providers have started accepting various cryptocurrencies. Green Exchange provides you a secure platform to exchange between other crypto assets and cryptocurrencies. Green exchange helps you be part of the cryptocurrency market and rise above the hype and speculation that is most decentralized digital currencies and contribute towards a more secure transaction ecosystem.