By: Mickael Mosse – Blockchain and Cryptocurrency Expert
A useful activity to get closer to a new situation is relating it with real and daily things. Maybe, if you have read those “For Dummies” books, you know the importance of getting topics in simple words to become familiar with it.
Mickael Mosse, Blockchain and Cryptocurrency Expert, wants to bring you a simple guide to walk into your first steps in the crypto world.
Let’s go for this crypto walk!
Now, we suppose you are thinking about: What can I buy with cryptos?
Mickael Mosse answers this based on day-to-day living, not investment and business fields in this case.
In April of this year, North American firm Visual Objects interviewed 983 people in the USA who used digital payments platforms to understand cryptos’ myths and realities. Results showed that people mostly spend their crypto “on everyday things such as food (38%), clothes (34%), and stocks (29%)”.
So, now you know that when you prepare your food shopping list, also open your crypto-bank app to pay it safer and faster, according to Mickael Mosse.
Can you imagine a money scenario where you control it? Crypto does!
Some known digital payment gateways such as PayPal and credit cards have something in common: the government disperses or set each currency’s value.
That’s the main point why crypto is a decentralizing currency. After all, it is outside of the banking system. According to Visual Objects, crypto can potentially prohibit the system’s failure. It “is controlled by the people who own it, which means it has no singular point of failure.”
In this way, Mickael Mosse says, cryptocurrency shows as a more democratic currency because it relies on each investor rather than a bank structure, for example. It can be associated with operating outside of the law.
However, Mickael Mosse says that it is also relevant to remember that crypto is still under government restrictions regarding taxes and regulations to punish scams. Still, it has a decentralized value that can’t be controlled by the government at all.