Random Blog on Crypto (Part 40) : How crypto can be used in daily transection (Part 2)

There will be some time delay as well as some oversight, middlemen and fees when doing transactions in common currency. We have to do financial transactions in our daily life and in this digital world we transfer money to other people's mobile any time through mobile. These person-to-person transactions are settled through banking channels or any other financial transaction system or clearing house. In the case of cryptocurrencies, this would be quite simple, directly from one person to another's wallet. It will only be added to the blockchain server or as an entry in the ledger and the funds will be transferred instantly. This is why digital cryptocurrencies have one of the best user bases for person-to-person exchanges.

When cryptocurrencies are exchanged i.e. transactions are completed through this currency, users are assumed to have control and authority over their own funds. In a normal system this control passes to a central authority. Various giant remittance or fund transfer companies have added cryptocurrencies to their networks and are able to complete their operations instantly. It is a somewhat time consuming and expensive process in the case of common currencies. So in this modern age we can see the widespread use of cryptocurrencies to make these transactions easier. There are many types of services and many financial institutions operate here. Everyone is doing this from their own place through cryptocurrency. This is definitely a great initiative considering the use of cryptocurrency. There are hundreds of other uses of cryptocurrency under this area.

Cryptocurrencies empower individuals to engage in peer-to-peer transactions without the involvement of traditional financial institutions. This capability is especially beneficial for international money transfers. Cryptocurrencies can facilitate quick and cost-effective cross-border transactions. Platforms like PayPal and Square have integrated cryptocurrency functionalities. It is so easy for users to send and receive digital currencies effortlessly. This decentralized approach to transactions provides users with more control over their funds with reduced fees and processing times.

Explaining just the areas of use of cryptocurrency would take many posts. So I want to share few user areas with you guys because you all here are crypto lovers. So, how cryptocurrency can be used in some cases, I will appear in the next post with some other areas.

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