The world is changing fast with changes effecting the way we live our daily lives. The way we communicate and the way we get from one place to another. Where we sat and how we spend our money. Innovations in technology is making our way of life more convenient.
We can get things done faster, more efficiently and in a more secure way. Technology has infiltrated every area of our lives. The most significant changes is happening wth our money, the way we get it, keep it, grow it and spend it.
Literally cash in ur pockets used to be king, however now it’s gradually decreasing as the main way we spend our money.
It’s becoming less and less popular.
Can you remember the last time you wrote a cheque?
Do you remember getting your first debit and credit card?
Now with the digital revolution everything is online.
Can you remember the last time you visited a library?
And can you remember the first time using Yahoo search engine?
This digital revolution is currently taking over the world of money.
Can you remember the firs time you used PayPal or started online banking?
Now we have services like Apple and Samsung Pay that I have yet to use and experience. You can literally tap your phone at your local convenience store and buy whatever you need. Now our cash is completely digital, this digital currency has been around for many years already.
There are now over 800 digital currencies today that each holds it’s own value. For example the USD has a different value to the Hong Kong Dollar and it’s the same with digital currencies. Most people who have been buying digital currencies over the last few years have been focusing on making money from it's price increases.
Buying at lower prices and selling when the price increases. This is generally speculation and the best way to profit from a digital currency is to get involved with a coin that is highly usable. A coin that goes beyond simple day trade profits. One that can also be used for shopping, a coin people can use to buy the things they really want and need.
Studies have proven that when a business accepts Bitcoin as a payment method for their products ad services then it creates a greater demand. Demand affects the value of the coin causing it to go up. We can see how this has happened with the worlds first digital currency Bitcoin.
When Bitcoin came out in 2009 it had 0 usability because at the time businesses and shops were not accepting them as payment for products and services. All you could do was earn them by Mining them and trading through peer to peer transactions so because new, curious, excited early adopters bought into this new digital currency created a fast increase in demand causing the value to increase.
The price of 1 Bitcoins has gone from 0.10 USD to it’s highest of around 3,000 USD. People who held on to Bitcoins at the beginning drew very rich. Since 2009 many people in countries all around the world have seen the potential benefits of digital currencies over fiat currencies.
With Bitcoin you can send and receive money to anyone around the world in just a few minutes with almost no fees from your very own digital wallet that’s owned by you and not a bank. People felt empowered by these advantages and for the first time in history have full control over their money.
How they spent it and stored it without the necessary fees associated with traditional banking. When you store your digital currencies in your own Wallets then there’s no chance of losing it through catastrophic economic events such as what happened to Greece and it’s currency.
Now more and more people are looking to digital currencies as a financial solution to secure and protect their money. And more and more businesses around the world are starting to accept Bitcoins as payment for products and services with more stability and security without dealing with middlemen and the banks.
As the usability of a digital currency grows, so does the demand and so does its value. This new economy is creating so many opportunities and with its disruptive nature it enables consumers to deal directly with the product and service dealers and suppliers.
Remember, AirBnB does’t actually own any properties. Uber doesn’t own any vehicles. People want flexibility and this new way of doing business has made these companies go viral. When you combine digital currencies with disruptive business models in massive industries then anything is possible.
So don’t get left behind with this digital economy. There are now multiple ways to earn, invest, trade, sell and spend digital currencies for profit. Along with many exciting possibilities with smart contact technology.
Thank you for reading this post because I hope it is helpful for you if you're a digital currency beginner, learning more about bitcoin other crypto currencies and their potential.
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All my hopes and dreams.
