Understanding The Pros And Cons Of Crypto currency Asset Management. Understanding the pros and cons of cryptocurrency asset management is extremely critical to you, if you have plans on investing in crypto currency. As You Must Be Well Aware Cryptocurrency is basically digital currency. But one of the most important aspects of crypto currency is the hard fact that it operates independently. Meaning, it is not governed by any central bank, anywhere in the world. Thus, if you have plans on investing in any form of cryptocurrency, it is very vital that you first get a deeper understanding of the pros and cons of cryptocurrency asset management. Pros of Cryptocurrency · Crypto currency is legal. · When cryptocurrency is mined, you can make lots of money in this way. · Because of cryptocurrency, trading anywhere in the world becomes extremely easy. · Crypto currency is 100% private. · As compared with various payment methods like Paypal and the like, the transaction costs of cryptocurrency are very low. · Total transparency exists with crypto currency. When you deal in Bitcoins, there is something known as a block chain. This is an open ledger on which each and every transaction is recorded and well maintained. As a result of this block chain, when any transaction is completed and it has been recorded on the register, it just can’t be changed. No person and no organization anywhere in the globe can manipulate this and this is the biggest feature available with crypto currencies. Cons of Cryptocurrency · Very select vendors accept cryptocurrency. · You might be using cryptocurrency to trade for something legal today. But tomorrow, that same cryptocurrency, could be used to make illegal purchases, by another person. Eg. Silk Road. · If your cryptocurrency has been stolen by a hacker, you cannot get it back. It is gone forever and all your money invested in cryptocurrency, is gone with it. · Because cryptocurrency is non-inflationary in nature, it lacks the kind of flexibility that can be seen in centralized currency. · Cryptocurrency is the ideal tool for criminal transactions. This is because any transaction that is made with cryptocurrency, cannot be traced. As such, cryptocurrency is used all over the world by drug dealers, arms dealers and the like. · If something goes wrong with a cryptocurrency transaction, there is no way to make that transaction right. So any money involved in that transaction, will be lost. · Cryptocurrency is not used by many people and most people do not even know of its existence. Is It Worth The Risk? Have no doubt about it, dealing in cryptocurrency can be a big risk. If you have plans to utilize digital currency, in the same way that you have been using your regular currency for all these years, then this is not at all recommended. But, if you have plans on investing in digital currencies like Bitcoin, then this might not be such a bad idea, as the value of Bitcoins have increased tremendously and continue to do so. Now you know the pros and cons of cryptocurrency asset management.
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Today, cryptocurrencies are a fast-growing currency form, and an even faster growing accepted medium of exchange, especially in the online domain. More people are trading in cryptocurrency, and so they usually have some stock of the digital cash with them at a given point of time. When they want to exchange their cryptocurrencies for products or services online, they don’t have to convert their money to fiat. With more online stores accepting digital currency as payment, it saves time and money, and a lot of effort also.
You don’t have to carry hard cash with you, and you just need some virtual currency to get a physical service or product. Online retailers have started accepting cryptocurrency as a mechanism for payment. It’s a nice option and certainly one which leaves room for enjoyable. Why don’t you read on and find out about a few online retailers that accept cryptocurrencies, and how they operate.
Online Stores that Accept Cryptocurrencies
Online stores have started accepting cryptocurrencies, and there is no extra documentation or transaction fee for that. It just trades like regular fiat. Even though many of the stores that allow digital payment, they do accept fiat, but having that as an option makes them a more appealing retailer. There is more convenience for many customers, and that’s important to say the least.
- Gaming Websites: If you check out gaming websites, most of them accept cryptocurrencies, especially Bitcoin as a medium of exchange. Almost all online Casino and Poker sites allow you to buy their tokens for crypto’s. In fact, there are some Poker gaming websites that do not accept any other currency, except for Bitcoin.
- Amazon/Shopping Websites: While Amazon.com doesn’t directly take cryptocurrency as payment, it accepts Amazon gift cards which can be purchased via cryptocurrency. You can go to a third-party website and buy the gift cards with the digital currency, which can then be used on Amazon’s website. It boils down to the same idea, but you have to take an additional step to buy the gift cards. There are lots of websites like Amazon that indirectly accept cryptocurrency when buying vouchers or gift cards to use in the online stores.
- PayPal: PayPal is a name that has established itself as one of the best and most used platforms for international payments online. They too accept cryptocurrencies; and it’s done with a sole motive to facilitate its user base. Since more people use cryptocurrencies, PayPal has become more accommodating for its large user base.
- Microsoft: You can purchase your Xbox gaming applications, software, and applications from online Xbox stores, using cryptocurrency. Since Microsoft has shown faith in digital currencies, more companies are following suit.
- Subway/KFC: Many online Subways and KFCs started accepting Bitcoin a few years back. Although they stopped doing this after a few years, they once did, and the chances are more stores would start doing so in the near future.
Cryptocurrency as a mode of payment has penetrated almost every online marketplace. Companies like Expedia, Subway and KFC were also allowing for this at one point of time but because their system couldn’t be streamlined had to be halted. It seems plausible that cryptocurrencies are going to be the next big things after plastic money, when it comes to online shopping. You may need to prepare yourself for this in the near future.
Cryptocurrency has broken through a variety of sectors, especially Bitcoin. Surprisingly enough, an average 50% of people are investing or trading in Bitcoin. Another startling trend of cryptocurrency is the fact that people have started using this in day-to-day lives. Some use it to buy and sell products and services! Let’s look at how people use cryptocurrencies, and how you can benefit from it also.
Places That Accept Crypto as Payment
Cryptocurrency is widely accepted at many physical stores. With the introduction of cryptocurrency ATM machines, which are just like traditional ATM machines but dispense cryptocurrency instead of conventional fiat, it has changed the game. If you have some Bitcoin cash, you can easily buy things that you want from various stores, not only online, but offline as well. Some accept only hot wallets, while some shops even accept cold wallets for this purpose.
- Electronic Stores: Electronic stores like Newegg accept Bitcoin Cash, as payment if you buy some gadgets from them. Newegg is an electronics retail giant, and it is believed many more will follow the practice going after one of the market leaders.
- Small Kiosks and Stores: If you happen to visit kiosks or shops to buy something quick, the chances are that 1 in 5 would offer cryptocurrency as a mechanism of payment. After online, this trend is ripping through to the offline market as well. More and more stores are integrating with cryptocurrency so as to not lose out on customers.
- Eating Places: A majority of eating places, like restaurants, coffee shops, and even fine dining establishments, have started to accept cryptocurrency for payment. In fact, the food sector is one of the biggest sectors accepting digital currencies as payment. Even small stand-alone restaurant owners offer cryptocurrency payments. Some owners trade in cryptocurrency and find it a useful way to trade also.
- Travel Companies: Famous travel and moving companies, like the Roadway Moving Company, are also accepting cryptocurrency, as a payment method for their customers. The company had suggested that a lot of their customers are using this facility, much more than what they expected when they launched cryptocurrency as a payment method for their services.
In a Nutshell
After the online surge, cryptocurrency is now moving into offline territory as well. There are many ways to use cryptocurrency in your business, and gain out from it. It seems to be a viable option from both taxation and a customer retention point of view. Many businesses are using cryptocurrency as their marketing strategy to attract buyers, especially the early adopters and teenagers.
Businesses need to be leaders and adopt the latest changes so they don’t fall behind. You are best being a pioneer than a follower, and networking with cryptocurrency might prove to be the next big step you can take to promote your brand.
Cryptocurrencies have seen a rapid increase over the last few years. However, traditional trading and investing aren’t the only reasons why cryptocurrencies, especially Bitcoin, have become so popular. One of the most prominent sectors that have seen the popularity of Bitcoin grow is the food and eateries industry. Cryptocurrency has become a popular trend, and is a preferred mode of accepting payment at dozens of restaurants worldwide.
Not only online chains like Subway and KFC, but even retail giants who hold only physical stores have incorporated cryptocurrency into their finances. With every new emerging trend, the food sector is keeping up-to-speed so they don’t fall behind. As a result, many small eating establishments have also started to accept cryptocurrency.
Gastery and the Food Cryptocurrency
One establishment adopting cryptocurrency as payment is Gastery. Gastery emerged as a start-up in the food sector, with an application for the customers to download their menu. Customers could buy food and pay with Gastery crypto tokens, and cashback for customers could also be received from their tokens. Being able to use cryptocurrency for the restaurant really made it a stand out feature, and they offer fine, regular and fast food dining. There is something for everyone. Also, with the fever of cryptocurrencies increasing, and people trying to come up with new ways to use it, it made sense for the company to venture into the digital currency field.
Automation is enabled for restaurant owners in the way they interact with their customers and provide them the menu. The four main features of Gastery are geo-location, blockchain, smart contracts, and QR codes. The Gastery facility is important to customers for a convenient order, and for owners to develop great insight into buying behaviors of their customer base.
Pay for your Food with Cryptocurrency
Small vendors are following the idea of cryptocurrency payments, with payment being accepted at:
- Coffee Shops
- Take Away’s
- Fine Dining
- Food Kiosks
- Food Parlours
- Ice Cream Parlours
- Beer and Wine Shops
- Hotel Restaurants
3 Online Places to Order Food with Cryptocurrency
Many online places have started offering their menu items for cryptocurrency. These are also becoming more and more popular, and some customers like the idea of spending their cryptocurrency because they aren’t confident trading it. The concept of digital currency is very simple, and it’s a convenient option for thousands of customers as well. Let’s look into a few who accept this form of payment for the delivery of food items.
- Pizzaforcoins: This is a delivery service that sells pizzas from Domino’s, Pizza Hut, Papa John’s and a few more, in California. Orders are accepted via their delivery portal, and it accepts Bitcoin. You are also allowed to pick your own pizza from the nearest location, or they get you home delivered.
- Lieferando.de: This is a German chain, with more than 11,000 restaurants, and operates via takeaway.com for delivering food items. They are expanding into more countries, and accept cryptocurrency as payment.
- WhenHungry: This is the name for the Russian food delivery service, and they accept cryptocurrency like Ethereum. Recently they also launched their own token in the name of “WHY.” Most of Russia is covered with this brand, for ordering food for cryptocurrency.
The Coffee Giant: Starbucks
Coffee lovers who also are Bitcoin enthusiasts always look for ways to buy their morning coffee with Bitcoin. Although Starbucks doesn’t accept cryptocurrencies directly, it has a provision for a third-party intermediary, Bakkt, which can be used by buyers, to pay for their cryptocurrency. If brands like Starbucks start accepting cryptocurrency, even indirectly, it seems that this trend will grow as the time progresses. More companies, both large and small, would become less hesitant to dive into cryptocurrencies.
Why are so many Food Places accepting Cryptocurrencies
Would you not be tempted to try your local eatery if it started accepting cryptocurrencies? Would you not be tempted to immediately buy some crypto if you have never used it before? The food sector is augmenting the cryptocurrency world, and both complement each other. However, new traders are still hesitant about buying and trading with cryptocurrencies.
When newcomers use a platform where they can use their crypto, they get motivated to purchase. Of course, companies like executium.com are doing the best to assist new traders. The concept is spreading fast, and even executium.com and other such platforms cannot accommodate all users. Also it’s not everyone who feels comfortable with learning something online.
Is It Meant for You?
Statisticians and researchers say that although there is much saturation in the food industry globally with cryptocurrency integration, there are unknown factors still out there. The cryptocurrency wave is engulfing whatever comes along, dozens of industry sectors, and the food sector has already shown some promising results. Not far are the days when children start requesting Bitcoin from their parents for an evening burger or a slice of pizza!
Some people are born lucky, and so is the case with cryptocurrency. It has been in a boom since its inception about three decades ago, especially once Bitcoin was rolled out in late 2009. There have been low periods and high periods, but there has never been a net negative fall. Millions have made great fortunes out of the blockchain technology, creating digital currency.
The Rise of Bitcoin
The year 2011 saw a huge rise in the prices of Bitcoin. However, before and after the surge, Bitcoin was considered as a leader in the cryptocurrency field. It has also been the most popular among cryptocurrency traders. Today, it has reached a point, where the effect has become magnetic. Bitcoin traders are increasing in numbers day and night. It isn’t down to pure luck either.
Bitcoin was a cryptocurrency, in fact, the first so secure open source cryptocurrency. Can you imagine that in the beginning? People used to gift Bitcoin cash, to other crypto users, just for fun, or for the sake of it! From that stage of infancy, Bitcoin has risen to a level, where even a cent of a single Bitcoin token is worth a fortune.
The emergence of Different Cryptocurrencies
It must not be ignored, that as Bitcoin rose, and it gave scope to the birth of many more cryptocurrencies. Some were almost identical, while others were quite different. No one can say which cryptocurrency is best as every investor or trader requires something unique. When you’re interested in investing or trading in this field, you must choose the one that suits you the best.
Online and Offline Non-Traditional Market Places for Cryptocurrency
Cryptocurrencies have a place online and offline. People use digital currencies for a range of things, and not just to trade or invest in; people use it to buy and sell goods and services. Gaming and food remain the two main hubs where cryptocurrency finds an extensive deployment. You open any Poker website, or Casino website, and you will find that they have options for you to play upon your cryptocurrency. Also, many online and offline food places like WhenHungry.com and KFCs have started accepting cryptocurrencies as a method for buying food items.
A Latest Start-up Exploiting Cryptocurrency
Gastery is one such food tech start-up that I would like to mention here, that has collaborated food and cryptocurrency via an application and some blockchain tokens. Yet in the implementation stage, Gastery has already become very popular.
Make the Best Out of the Cryptocurrency Wave
Everything that emerges has a downfall at some point in time. The best time to utilize it is when it’s on a surge before its downfall. That doesn’t mean to say cryptocurrencies will spiral or go into a downfall, but you can never be sure. Cryptocurrencies are on a high right now, but that doesn’t mean to say it will remain the same. We’re the generation that’s witnessing the rapid rise of cryptocurrency, and it might make sense to make a fortune out of this adventure also. Spin your imagination and think of a way of adding cryptocurrency to your business.
However, be cautious and keep updated with the latest crypto news.