Beyond a method of payment, what are other functions of crypto.

[TOZZIBLINKZ]

Cryptocurrency can serve a variety of functions beyond just being a method of payment. Some examples include:

STORE OF VALUE: Cryptocurrency can be used as a form of digital gold, as it is decentralized and finite in supply.

INVESTMENT: Cryptocurrency can be bought and sold as a speculative investment, with the potential for high returns.

DECENTRALIZED FINANCE (DeFi): Cryptocurrency can be used to access decentralized financial services, such as lending and borrowing, that are not controlled by traditional financial institutions.

SMART CONTRACTS: Cryptocurrency can be used to facilitate smart contract transactions on blockchain, allowing for decentralized and trustless exchanges of assets.

PRIVACY: Cryptocurrency can be used to maintain privacy in transactions, as they can be done without revealing personal information.

ANONYMITY: Some cryptocurrency transactions can be done anonymously, providing a level of anonymity that is not possible with traditional banking systems.

MICROPAYMENTS: Cryptocurrency can facilitate micropayments that are not possible with traditional payment methods because of high transaction fees.

BORDERLESS TRANSACTIONS: Cryptocurrency allows for borderless transactions as it is not restricted by geography or currency exchange rates. This can be especially useful for international trade and e-commerce.

CENSORSHIP RESISTANCE: Cryptocurrency transactions are decentralized and not controlled by any government or institution, making them resistant to censorship and control.

TOKENIZATION: Cryptocurrency can be used to create and issue digital tokens that can represent ownership of assets such as real estate, art, or even carbon credits.

GAMING: Cryptocurrency can be used as a form of in-game currency, allowing players to buy and sell virtual items, or as a form of reward in gaming platforms.

CROWDFUNDING: Cryptocurrency can be used as a means of fundraising through Initial Coin Offerings (ICOs) and Initial Token Offerings (ITOs), which allow companies to raise money from a large number of investors.

MACHINE-TO-MACHINE PAYMENTS: Cryptocurrency can facilitate payments between machines, allowing for the creation of a decentralized autonomous economy.

PREDICTION MARKETS: Cryptocurrency can be used to create decentralized prediction markets, where users can buy and sell shares in the outcome of events.

Note these are just a few examples of the many functions that cryptocurrency can serve. As the technology and ecosystem continue to evolve, new uses and applications are likely to be developed.

 

[CALVINDOL]

When we hear the word cryptocurrency what absolutely comes to our mind is literally Bitcoin and possibly ethereum and other leading cryptocurrency that are ruling the crypto-currency market. Bitcoin is considered to be one of the most transactable coin throughout the last 5 years however beyond a method of payment we can view cryptocurrency is also a means of storing value and a means of wealth accumulation. We should take our money back today time possibly around 2009/2010 when bitcoin was absolutely low in value. Individuals who believe in Bitcoin to increase in value but bitcoin and kept it in their various cryptocurrency wallets and today they have reaped the benefits and the reason is because there's some bitcoin as a means to store value and to store wealth which possibly will escalate positively sometime in the future.

Secondly we can view cryptocurrency as a means of accumulating future expenditure fundings. And that could be obviously seen in the process when cryptocurrency has the possibility and capability to increase and to decrease in value.

 

[Axis]

Apart from a method of carrying out transactionary payments we can also view cryptocurrency tokens and coins and also a means of storing value and to be very much is sincere cryptocurrency tokens and coins is definitely an excellent means of storing value and the reason is because majority of cryptocurrency tokens and coins have the possibility and capability to rise and to fall in price however in order for us to make gain and make sure to buy the right cryptocurrency tokens that has the capability and ability to rise in value we need to do our research.



So many kind of cryptocurrency tokens exist in the crypto-currency market however it is absolutely our job to filter cryptocurrency tokens and coins that have the ability to rise in value from those who do not have the capability and ability to also rise in value. Bitcoin and ethereum that are considered to be the leading cryptocurrency in the crypto-currency market definitely have the potential to rise in value sometime however it is advised to buy it now even if in smaller quantity.

 

[saoussen5765]

@Berthix Gabriel I see most of people doesn't bother of new cryptocurrencies and stays limited to the popular one because you are talking about small minority that may shows interest to new coins. Most of people are limited to limited numbers of coins like litecoin, dogecoin, stellar lumens, xrp, monero, tron or TRX, USDT, Solana, but if a new crypto appear then people will just say scam coin and pass. Then this is why new cryptocurrencies projects disappear fast for less of support from people and then crypto devellopement of theses old coins is becoming classic one and no more news except MWEB technology that appears new.