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Why People Prefer Purchasing Items And Paying Off With Cryptocurrency

In lots of countries of the world, Bitcoin is not only an investment asset but also a payment instrument: it is possible to purchase real estate, plane tickets, gadgets, etc. using Bitcoin or any other cryptocurrency. Electronic cash may be also used when buying things online: it doesn’t differ from a dollar or euro. So why do more and more people start using cryptocurrency when purchasing anything both online and in real life?

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Is Bitcoin Dangerous For Governments?

Authorities strive to take everything related to money under control. However, cryptocurrency, that has nothing to do with central banks and is not under control of any governmental body, has become an exception. Now, when electronic cash has become ordinary and usual, each social group takes advantage of it in order to conduct anonymous payments and pay no taxes.

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What is Cryptocurrency Backed With

What is Cryptocurrency Backed With?

Cryptocurrency is digital money that has no physical representation. When people buy or sell cryptocurrency, they make electronic transfers on their online accounts. However, how do people know cryptocurrency is worth anything? What defines its value? When we talk about fiat money, we understand that it is supported by gold and currency reserves. Cryptocurrency has no reserves that back it up, its price largely depends on the demand. As the demand rises, the price does as well, and vice versa.

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