Introduction
Our life is all about earning and spending money because we all earn money to spend throughout life. Which has become an important cycle of our life which needs to be managed in one’s life. By spending we mean money and by getting it means money again. Now in today’s time when people are going digital and are using smartphones and computers for their benefit, a new form of payment method has come into existence that is called cryptocurrency. Crypto has become a widely used payment method over digital platforms found here and some countries have made it a legal tender for payments just like other fiat currencies. The doors of shops in these countries similarly show the sign of crypto as that of debit cards and credit cards.
The method has become so popular that some countries have legalized the use of crypto debit cards and there are somewhere there are ATMs for cryptocurrencies like bitcoin just like for the fiat currency. Thus, it has emerged as a source of payments, and that too effectively.
Paying through crypto
Paying on e-commerce websites
There is a lot of confusion for the newbies that crypto can be used for paying online for exchanges over the blockchain. But it should be mentioned here that this is not true. Though paying on the blockchain is true, the same is true for online e-commerce websites too. Many commercial online websites have started accepting crypto as a method of payment and not only this they have tagged some attractive discounts when paid through cryptocurrencies. This method of saving for the customer can be seen from the fact that there are not many users as compared to normal fiat currency, that is the reason that the offers are this attractive. Offers to be good help saving money effectively.
Property dealing
Property dealing involves the exchange of a huge amount of money, so the processing fee is equally high and the costs associated with the transactions are high as well. There are certain real estate companies that just like e-commerce websites post lucrative offers to attract customers and those offers often lead to savings. Those investors who are willing to buy property this way can save a lot of money and thus crypto can act as a source of payment that can lead to savings ultimately.
No middleman
In any case, we usually came across a middle man. These middlemen charge some commission and as a result, the deal becomes costly. This is completely changed by digital entities as there is no middleman in the chain, thus the cost is less. The project becomes cheap to perform and thus savings. Moreover, there is nothing hidden and the investor can see what he is actually paying and then can make a wise decision.
No loss and theft
A lot of cryptocurrencies can be managed in a digital wallet just like there is a physical wallet. In a physical wallet when money gets lost there is no chance of getting it back. But in a digital wallet where cryptocurrency is stored, there is a facility of ledger wherein one can easily track his expenses and spending. Not only this there is a spend analyzer tool that can easily track your spending and keep track of some unusual activity. If some unusual activity is found it automatically warns the user of that transaction. This can lead to savings ultimately. Thus, it can be seen that crypto payments can help save money. With the proper knowledge and skill, one can easily achieve the same.
