Cryptocurrency transactions on the Internet have the highest potential. In many online stores, this is not only convenient but also safe. Cryptocurrency is not taxed at the legislative level and is not controlled by the banking system. Moreover, many cryptocurrency holders manage to make money on the difference in rates, on tokens, and so on. Let’s figure out how profitable it is to carry out such operations.
How Cryptocurrencies Work
Let’s look at an example. You open a Bitcoin wallet, which is a storage of electronic currency. To receive a certain amount of BTC for it, you need to use the Bitcoin exchange service or send the address generated by the wallet to the person who is ready to fund your account.
Any crypto project has a chain of blocks with certain data linked between them. Thanks to the algorithms by which the following blocks are generated, they are transparent (you can track any transaction and which node is needed). You cannot hack the system and rewrite any block. He will be rejected by other members of the network as ineffective. For the blockchain to work and new blocks to appear, a resource is needed in the form of computing power.
How to Pay for a Product or Service Using Cryptocurrency
Payment with crypto is carried out according to the same principle in all countries since the electronic currency is not geographically tied to any of the states. Where governments try to control the lives of their citizens as much as possible, coins are generally prohibited by law. To pay, you need to:
- Launch the crypto wallet on your smartphone. The application will have a Scan QR Code section and window. The code must be found on the website of an online store in the special section.
- Scan the QR code of the payment invoice for the item.
- Click the Send button.
- Confirm the action with your PIN.
BTC transaction is completed.
What Can Be Paid with Cryptocurrency?
In most cases, crypto is spent on goods to improve software (Microsoft, App Store), often used to pay for bets and gambling.
Users can pay with crypto for purchases in online stores that have international status:
You can also use BTC to travel between cities, countries and around the world. You can use the following services to buy tickets:
- Travel For Coins.
The Advantages of This Payment Method
Paying with Bitcoin has many advantages:
- There is no scrutiny or oversight of private or public companies;
- Instant transactions;
- Low commissions for transfer, input;
- Uninterrupted work;
- Not subject to inflation;
- Security of transactions;
Cryptocurrencies and in particular Bitcoin are becoming more popular every year. The advantages of this means of payment are much greater than that of fiat, both in terms of anonymity and in terms of security. Therefore, the prospects can be called encouraging.