If you are still not aware of digital currency, you need to know about it. As per reports, around 15 percent of US citizens currently are engaged in any form of digital currency, including Bitcoin or ETH. A large chunk of investors has been procuring the same for the past two long years. Even though we have an investment stance, a strong possibility is there that digital currency will impact the coming future of business transactions. It has come into force ever since Michael Saylor, the CEO of MicroStrategy, came forward in open support of Bitcoin. He endorsed Bitcoin publicly, and the company has been known in the market for the past three decades. Then came Tesla, the auto giant that came forward to invest around 1.5 billion USD in Bitcoin. Finally, Elon Musk, the company owner, embarked upon the digital currency market and made headlines with a whopping investment in Bitcoin.
The company also announced that their customers could deal in digital currency while buying electric vehicles from them. The next is the company PayPal, which adopted digital currency. The company remains a pioneer when it comes to carrying out digital currency-based transactions. Owing to the history of the promotion, we can make transactions fast and straightforward. You can carry out any transaction in no time. All you need is a digital currency to deal with the same, and next becomes the magic. Recently, we have seen the capability for people when it comes to buying and making transactions using digital currencies like BTC, ETH, and LTC. However, one can find digital currency enthusiasts slamming PayPal for not allowing the users to transfer their coins to any private-based wallet. Perhaps this key feature can help add up the future in a big way giving the right direction. You can further explore the sites like http://bitcointalkshow.com to get an insight about the same.
If you look at the top platforms for making payments worldwide, Bitcoin is the first choice for people. For instance, we can see Visa allowing several transactions using stable coins using ETH based Blockchain. Mastercard followed the same, and it announced that their consumers would carry out different transactions using digital currency somewhere in 2021. With giant companies now travelling in the same boat, it seems that the doors are now closed to smaller players but open to big players found in the mainstream. They have adopted Bitcoin and other digital currencies in running their day-to-day business and will continue in the coming years.
Companies dealing with digital currencies can find paying their employees more straightforward using the same. Handling the payroll for employees for any company is a big task, primarily when small staff work in different parts of the world. If you convert your USD into any other global currency for your employees, it becomes a big problem. Carrying out cross border transactions is often a burden, and it requires fees on the currency conversion.
With digital currency, we see international transactions coming up like a breeze with no or minimal fees in reality. As we see the transactions through Bitcoin coming in public, people can check the details and look at their status. Slashing down the banks can help save both the employees and employers in a big way and thus give a big win-win situation for the workforce.
Now, if you look at digital currency as a viable choice of payment, you need to know that there is no inherent value to the same. It has the value that the world comes giving the same. However, the same is said about it all across the world with fiat currencies and thus can have a long-strayed option coming and working as a gold standard. Some strong advocates hold gold for many years to come when we see some extreme printing happening for money, which can further lead to devaluing the currency.
As gold comes up with a finite supply option, it ends up becoming more valuable. These come like a hedge against inflation that further means that governments can easily use their money in their bank accounts. Interestingly for all these reasons, we see digital currency users are now holding more and more coins for several reasons when it comes to holding gold. The critical difference is the young age of digital currency, which is yet to prove more benefits in the coming times.