The question everyone is asking about cryptocurrency is not what it is but if it’s a 21st Century Dream or reality. What started as a complicated and understandable concept is now a concept where everyone interested understands it and growing into the non-interested sector due to the daily news and growth of the subject.
How did it start?
When the first cryptocurrency known as bitcoin started during late 2008 and beginning of 2009, the anonymous creator of Bitcoin, Satoshi Nakamoto stated that Bitcoin wasn’t introduced as a new currency but as a peer 2 peer cash system technology. Which was something that many tried before him but failed – Kudos Satoshi!
Fast forward to today, Blockchain concept was created which is established by a cryptocurrency transaction. This blockchain enables the cryptocurrency to be secure, fast and anonymous. Cryptocurrencies are legal with only a few countries in the world banning it, but to be fair it does open new frontiers and opportunities to businesses and even banks at some stage.
Online gambling which is a sector of the profitable industry that is constantly changing, has evolved with the creation of cryptocurrencies. Many online casinos are open minded to enable players to play with bitcoin whether its poker, blackjack or other games as it’s legal and becoming the norm really.
It’s also not complicated to set up a deposit to start playing as what you need is to buy a wallet – online or physical – then buy any cryptocurrency, however, be careful as some online websites only accept Bitcoin as a cryptocurrency. Cryptocurrency also gives players the benefit of bigger rooms and winnings.
It’s been said recently that Facebook is considering using cryptocurrency for business growth. And others might follow suit to as it creates a mutual beneficial crypto-social relationship due to the fact that cryptocurrency exposure grows due to the social media news and feeds too.
Another instance of cryptocurrency in social media is Steemit, which is a network where you upload content and practically get paid for it through cryptocurrency. The cryptocurrency that is given is Steem. With two of the top social media in the world collaborating with cryptocurrency, it’s clear proof that social media are moving forward together to a healthy relationship. How Romantic!
If cryptocurrency could get in online gambling and social media, it was about time that cryptocurrency would become a currency in online shopping too. Online shopping will save up money to shops as bank institutions can’t process credit card fees as they usually do since cryptocurrencies majorly are decentralized, unlike institutions which are centralized.
Although not every popular online shopping website takes cryptocurrency, there is a workaround to be able to do it by buying vouchers online with bitcoin to use them on that particular website. Online shopping may still need to revolutionise more into cryptocurrencies but it’s moving steadily there.
Cryptocurrencies are evolving through the days and are becoming a must-have option in all industries due to giving more options to the clients and a proof of business growth. It is a sure thing that in the near future cryptocurrency will have a much exposure as the USD, GBP and Euro has.