Cryptocurrency is a type of digital currency that operates on a decentralized peer-to-peer network.
The beauty of crypto is that it’s a global currency, so you can use it anywhere you go, even if you’re not physically present. It can be used in stores, online stores, and even on mobile phones.
Cryptocurrency is still in an early stage of development, and the first blockchain-based cryptocurrency, Bitcoin, has had a rough time of it. It is already banned in over a dozen countries, and its popularity has dropped to near zero in some parts of the world. But if you think about it, blockchain is the technology behind Bitcoin, so blockchain-based cryptocurrencies can be used to make Bitcoin more useful, more universal, and more secure.
The problem is that crypto-currency isn’t really as effective as it could be. Unlike the U.S. dollar, for example, a bitcoin can only be used to buy goods and services. You can’t use a bitcoin to buy a car, or even buy drugs, for example. Because of this, people have taken to calling the whole bitcoin economy a fraud or a Ponzi scheme, or at the very least a Ponzi scheme on steroids.
In order for crypto-currency to be used to buy things, it is first necessary to have the people who use it to buy the things. Without this, no crypto-currency can really get off the ground. And that is where blockchain-based currencies come in. If I can get my friends to use my computer to buy things, I can do the same with everyone else.
Most people don’t use bitcoins to buy things. Instead, they use bitcoin to buy other things. This is because they don’t have the spending power required to actually buy things. Bitcoin, which is a payment system, has no way to buy itself. A currency that can buy itself without using other currencies is called an “alt-currency.” In fact, most people that understand how the alt-currency works will tell you they aren’t buying it to purchase anything at all.
The thing is, people buy bitcoins not because they have the spending power needed to actually buy things, but because they can use them to buy anything. Like buying an iPad from Best Buy. Or a new iPhone. Or a car. And these things arent purchased with other currencies, they are purchased using bitcoins. So if you want to buy an iPad and buy a bitcoin to do so, you do that by purchasing an alt-currency and buying it using bitcoins.
In other words, buying Bitcoin is in the same vein as buying a credit card, and buying a credit card is the same as buying a Bitcoin. A Bitcoin purchase is done by buying an alt-currency, and buying it using bitcoins.
Of course, buying a credit card is like buying a car, and buying a car is like buying a bitcoin, and buying a car with a credit card is the same as buying a Bitcoin card. A vehicle is bought with a credit card and can be bought with a Bitcoin. We are both buying cars with credit cards, and buying cars with Bitcoin, but we are buying different cars.
In my opinion, buying a credit card is as much a sign of wealth as buying a Bitcoin, but the difference is that the former is an activity that can be done easily, whereas the latter requires knowledge.