Categories Cryptocurrency

Understanding The Different Types of Cryptocurrency

Cryptocurrencies have changed the world as we know it. Just a decade ago, the very idea of digital currency would seem to be preposterous – legal tender that does not exist in any tangible form. Imagine that? 

However, reality is of course much stranger than fiction. Bitcoin has become so much more than a form of currency used by individuals shopping on the deep web and the silk road.

Instead, Bitcoin and other types of cryptocurrency have forced us to reevaluate our relationship with money. Unlike fiat currencies that derive their value from an underlying asset i.e. gold, cryptos are entirely digital and do not exist in a physical form.

Due to their decentralized nature, cryptocurrencies are largely unaffected by external factors such as politics and government instability. It is hoped that via this mechanism, cryptocurrency valuations are regulated entirely by the free market.

As a result, we’ve seen how Bitcoin and other cryptocurrencies have exploded onto the scene. Investors eager to hedge the value of their investments have turned to cryptocurrencies as a good store of value.

What is it about this mysterious currency that’s gotten everyone riled up? Let’s take a look below:

How many types of cryptocurrency are there?

Before we take a deeper look into cryptocurrencies, we must first get an idea of how many types of cryptocurrencies are on the market. In 2019, it was determined that a total of 2,807 coins were in circulation.

To a new investor, this can be overwhelming at first. The unregulated nature of cryptocurrencies means that just about anyone is free to issue their own cryptocurrencies.

Even Facebook and entire countries have hopped on the crypto bandwagon to take advantage of this new development. However, given the extremely volatile nature of the crypto industry, entire projects have fallen apart before they could successfully launch.

Thus if you’re looking to invest in cryptocurrencies, it’s best that you stick with the fundamentals. Established cryptocurrencies like Bitcoin and Ethereum have stood the test of time and are rather solid investments.

Hoping to replicate the wild days of 2017 where Bitcoin valuations skyrocketed, many amateur investors make the mistake of trying to leverage on a volatile market. Consequently, most usually end up with massive losses and nothing more to show.

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What are the types of cryptocurrency?

Now that you have an idea of how cryptocurrencies work, let’s take a look at the types of cryptocurrencies that are available on the market. Given the sheer volume of new cryptocurrencies being developed, we’ve chosen to include the most relevant examples here.

1. Ethereum

Ethereum is one of the more popular cryptocurrencies that rose to prominence alongside Bitcoin. The second most popular crypto behind Bitcoin, Ethereum is described as being an open-source platform for decentralized applications.

Unlike Bitcoin which is primarily used as a medium of exchange, Ethereum builds upon the technology of Bitcoin by offering enhanced functionality.

Besides facilitating payments, Ethereum can also be used to develop programmable transactions. This has been used to great effect with the creation of smart contracts that are powered by Ethereum.

These contracts are able to function autonomously and make decisions based on prior pre-set parameters.

For example, a smart contract can be programmed to begin shorting stock or a currency when prices increase by a certain amount. It can also be used to automatically take a long position when the price of certain assets fall.

2. Bitcoin

Regarded by many as the crypto that started it all, Bitcoin was developed by the mysterious Satoshi Nakamoto in 2009 after the subprime mortgage crisis. In his paper, Nakamoto posits that the unregulated nature of cryptocurrencies and the finite supply available ensures that Bitcoin will be inflation proof.

In recent years, Bitcoin has exploded onto the scene with increased widespread acceptance all over the world. Bitcoin’s ability to facilitate the instantaneous transfer of funds to any part of the world has been a game changer.

3. Tether

The inherent instability of the cryptomarket has discouraged investors from snapping up currencies like Bitcoin. Given how market conditions can change in a moment’s notice, millions can be made or lost within just a few seconds.

This has given rise to the introduction of so-called stablecoins – different cryptocurrencies that peg their value to that of either real-world currencies or other assets.

Tether is designed to specifically bridge the gap between fiat currencies and cryptocurrencies. By pegging its value to that of the USD, Tether has been able to maintain fairly stable valuations over the years.

4. Bitcoin Cash 

Known as an altcoin or alternative cryptocurrency, Bitcoin Cash is a close relation to that of the traditional Bitcoin. This is where the similarities end.

Bitcoin Cash holds the historical distinction of having successfully completed a hard fork of Bitcoin relatively early on. Hard forks occur when a radical change is made to the blockchain network.

In the case of Bitcoin Cash, the size of blocks were increased which allowed for more transactions to be processed in a shorter period of time.

5. Bitcoin SV

Another offshoot of Bitcoin, Bitcoin Satoshi Vision or SV takes Bitcoin back to its roots by restoring the original Bitcoin protocol.

This is done with the intention of keeping it stable at all times. All of which will allow miners to better plan out their mining activities.

6. Binance Coin

Unlike other cryptocurrencies, Binance coin is used to buy and sell purely crypto on the Binance cryptocurrency exchange.

7. Litecoin

One of the major competitors of Bitcoin is Litecoin. Mining Litecoin is quite interesting, since the first miner to successfully verify a block is rewarded with 50 litecoins.

The difference against its competitor is that Litecoin produces a bigger number of coins and has a faster transaction speed.

8. Monero

The main draw of Bitcoin and other cryptocurrencies lay in their decentralized and unregulated nature which made anonymous transactions possible. However government crackdowns and technological advancements mean that cryptocurrencies no longer offer such protection.

Monero aims to resolve that issue due to its focus on secure encryption and other security measures.

9. Libra 

Originally intended to be Facebook’s first foray into the cryptomarket, analysts anticipate that Libra is set to change the world just like how Bitcoin did. Backed by millions of users and with a truly global reach, Libra represents the future of cryptocurrencies.

However, government oversight and regulatory requirements have hampered plans for a 2020 release.

10. EOS

EOS.Io is a representation of how cryptocurrencies are set to evolve in the future. Developed by Dan Larimer from Bitshares, EOS offers users immense scalability and provides developers with a platform to develop decentralized applications.

Besides that EOS had one of the largest and most successful ICO i.e. initial coin offerings in history raking in about $4 billion in investor funds.

11. Bonus: Ripple

An alternative coin that focuses on facilitating the smooth payment of cross-border global payments, Ripple was first launched in 2012. Unlike Bitcoin and other cryptocurrencies, Ripple does not need to be mined.

Instead, coins are issued as and when needed in accordance to the network’s guidelines. This gives Ripple a significant advantage over other coins due to the quicker response times.

One of the most popular cryptocurrencies, Ripple is a good investment for businesses looking to expand their operations globally.

Should you invest in cryptocurrency?

There is not a simple answer, but an investment in cryptocurrency market should be weighed wisely. Don’t dig in without knowing whether you are investing on a safe currency or on a scam: remember Bitconnect?

If it sounds like a ‘get rich quickly’ scheme don’t believe it. Investing and mining cryptocurrency takes time and patience but eventually it compensates.

Categories Secure Messaging

Secure Messaging In 2020: The Ultimate Guide

Ask yourself this, when was the last time that you checked your text messages? Probably it was just a few minutes ago.

Whether it’s our loved ones or colleagues, technology has allowed us to remain constantly in contact with one another.

This has been wonderful in helping us forge closer connections, but all of this unfortunately comes at a price and we have all asked ourselves ‘are text messages secure’?. In the digital age, information has become a commodity that can be traded and exchanged.

Over the years, technological advancements have lulled us into a false sense of security. Before the introduction of smart devices and instant messaging, the idea of sharing pictures and locations with one another seemed ludicrous.

Nowadays, some of us don’t think even twice about sending sensitive information or private pictures with those around us.

This begs the question, are text messages actually secure?

Can we trust our service providers to protect our privacy? What measures are being taken to prevent this information from being stolen and misused by malicious third parties?

In this article, we ask the question; what text messaging threats are and how can we better protect ourselves.

What are the text messaging threats?

A 2016 study revealed that over 6 billion text messages were sent daily in the U.S alone. From random chats to sensitive financial information, text messages are an often-overlooked security risk.

Text messaging threats refers to the danger of sensitive information in text messages falling into the hands of hackers and other malicious parties. Given the various security breaches over the years, it would be folly to overestimate the security provided by text messages.

Having a stranger gain access to your personal conversations is bad enough on its own. How about your credit card information and banking details?

Lapses in security could very well result in a thief stealing your credit card information to conduct unauthorized purchases or making use of your personal details to blackmail you.

In 2019, it was reported that a massive data breach occurred which resulted in hundreds of millions of text messages being leaked online. This is an extremely worrisome trend which is why data encryption is now more important than ever.

Are text messages encrypted?

Now that you’ve recognized the gravity of the situation, the question on your mind should be; are text messages secure and can anyone read your text messages?

Imagine your partner’s intimate pictures being leaked online for millions to leer at. What about highly confidential information such as details of your company’s next big deal? The consequences of such a disaster are too fearful to think about.

Even worse is the fact that text messages are not encrypted. What this means is that your mobile carrier and the government will have no trouble reading the text messages that you send.

Ever wonder how some random telemarketer or scammer got your number? Here’s one of the main reasons why.

While generally reliable, text messages can be easily intercepted by hackers which makes sending sensitive information by SMS a risky option. On their own, text messages reveal metadata such as telephone numbers which make it possible for the identity of recipients and senders to be detected.

At best, this can expose you to the risk of identity theft and at worst, you’ll be bombarded with scammers and telemarketers.

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How secure are text messages?

Generally speaking, text messages are not a safe method of communicating. While you may not be sending or receiving confidential information, you’ll only be exposing you and your loved ones to the risk of cybercrime.

The lack of encryption and basic security measures means that your texts can easily be intercepted. This does not mean that text messages are an awful means of communication – far from it.

Instead, when sending messages by text, practice good security hygiene and keep the important stuff for when you meet in person.

Are text messages more secure than email?

Email or electronic mail works by transmitting messages over the internet from a sender to the recipient. Having been around since the 1960s, email is one of the most popular means of communication.

However in recent times given a series of high-profile data leaks some of which have had severe consequences, the security of emails have been called into question. With hackers being as sophisticated as they are, it can be nearly impossible to identify the suspect or what data has been stolen for that matter.

When compared to text messages, emails offer a variety of options that enhance security. For example, Gmail supports a variety of third-party plugins that allow a sender to encrypt their emails. Additionally, Microsoft Outlook comes with encryption support for emails that enable better security.

Are Android text messages encrypted?

With over 80% of smartphones running Android operating systems, it goes without saying that Android is the world’s most-used phone OS.

By default, messages sent from an Android phone are not encrypted. However, given Android’s extensive app support, there are plenty of third-party applications that allow text messages to be encrypted.

So, if you ever wondered are android text messages encrypted, then the answer is a resounding yes. However, care should be exercised when choosing a message encryption app – with data being such a precious commodity, you would not want to run the risk of accidentally installing the wrong app.

Are iPhone text messages encrypted?

Apple devices have long been renowned for their quality and design. So it should come as no surprise that Apple places a premium on security. Text messages sent from Apple’s iMessage are securely encrypted which makes them extremely difficult to intercept.

How to send texts securely?

Sending messages via SMS can only get you so far. Recognizing the need for safe, secure communication, the industry has provided users with a myriad of choices to choose from.

Instead of relying on your service provider or carrier to secure your text messages you can choose Tezro App.

How to increase your security and privacy using secure messaging?

Despite sophisticated security protocols and encryption technology, cybercriminals will always find a way. The normalization of risk and complacency will only lead to security breaches. As a rule of thumb, always practice good data hygiene when sending messages.

Avoid using public wi-fi networks and only rely on a trusted source. Don’t text in public or when you’re using public transport – you’ll never know who’s watching.

Categories Secure Messaging

Message Encryption: Definition, Best Practices & More

In today’s hyper-connected world, data is a top commodity – one prized by both governments and criminals. With social media and the news shaping our opinions and beliefs, information gathered from individuals is priceless.

Targeted advertising monitors your behavior to better understand your preferences in order to suggest more relevant advertising. Social media platforms like Facebook and Instagram collect your data to develop a profile of you as a consumer and an individual.

From the Cambridge Analytica scandal, it is clear that data willingly provided by millions of social media users are being harvested for nefarious purposes.

From shifting your beliefs to influencing your decisions, it’s clear that the information age is turning into a dystopian nightmare. One where every word is monitored, analyzed and then manipulated back to you.

This is why data encryption has an increasingly larger role in today’s world. Protecting your data and ensuring that the wrong parties do not gain access to sensitive information is key.

What does encrypted message mean?

In a nutshell, encryption refers to the process of converting data into another form prior to it being transferred. This data can then only be unlocked with the use of a specialized digital key that decrypts the information into a recognizable form.

Encrypted messages have been around since the dawn of time with its roots in warfare. During the time of the Roman Empire, generals would use specialized ciphers to communicate with one another.

This ensured that in the event that a messenger was captured, vital strategic information would not be made available to the enemy as they lacked the proper cipher to decrypt the message.

World War II is another clear example of the importance role that message encryption has. By encrypting their messages with their Enigma machine, German commanders were able to coordinate crippling u-boat raids on British shipping.

Left unchecked, this could be disastrous for Britain and her allies who were heavily reliant on merchant vessels to deliver vital supplies. As the Allies were unable to decrypt German messages, they were helpless to protect their shipping lines.

However, the Allies would gain the upper-hand with the breaking of the German Enigma code. Something which allowed them to decipher German encrypted messages and counter their u-boat raids.

The same concept can be applied to sending text messages nowadays. Encrypted text messages are nearly impossible to intercept and decipher which goes a long way towards protecting your privacy.

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TEZRO is an all-in-one application for secure instant messaging and crypto payments, there is no need to have multiple chat applications or crypto wallets ever again. Your communication and finances are secure and encrypted under TEZRO. Try it now!

End-to-end encryption explained

End-to-end encryption or E2EE uses cryptography to encode messages for security purposes. This ensures that parties outside that of the recipient are not able to decipher the contents of the message.

To do so, E2EE systems utilize what is known as cryptographic keys to both encode and decipher the contents of a message. Any party that does not have the correct decryption key will find it nearly impossible to gain access to an encrypted message.

Cryptographic keys stored at the end point makes it nearly impossible for conventional hackers to intercept said messages. This system is not foolproof however with two known key weaknesses.

Firstly, a hacker could theoretically gain access to encrypted messages by stealing the public key of either one or both endpoints. This would enable them to perform a man-in-the-middle attack thus gaining access to sensitive information.

Secondly, developments in technology and computing power could allow a dedicated hacker to perform a brute force attack to break the encryption key.

Both situations are worrisome which is why researchers are constantly working on ways to further improve E2EE technology.

 

Why is SMS messaging outdated?

Also known as short message service, SMS has been one of the simplest yet most effective methods of communication since the development of mobile phones. SMS allows a person to quickly communicate with a friend or loved one via text messages.

Given the massive volume of text messages sent on a daily basis, the odds of a hacker actually intercepting and reading your message are abysmal. This is however, no reason to remain complacent.

In fact, by taking a closer look, it is clear to see that SMS messaging is woefully outdated. Being the world’s most popular OS, Android is used by potentially billions of users around the globe everyday.

With the exception of third-party applications, Android does not encrypt text messages sent from a phone. Even with the support of third-party software, the effectiveness of such apps remains highly doubtful.

The lack of message encryption also means that text messages sent via mobile present a major security risk. This is because unencrypted text messages leak metadata such as telephone numbers which can lead to the identification of the sender.

Why Should You Use an Encrypted Messaging App?

Encrypted messaging apps emerged in response to the revelation that both government bodies and private companies have a vested interest in harvesting the data of consumers.

Messenger apps employ sophisticated message encryption technology. This provides an additional layer of security that makes it all the more difficult for your messages to be read.

Encrypted messaging apps also reduce the likelihood of you becoming a victim of cybercrimes such as fraud and identity theft. It is shocking how most phone users choose to exchange sensitive financial information via SMS. This provides hackers and thieves with the perfect opportunity to steal and misuse such delicate information.

Message encryption: what to encrypt?

1. The connection 

Encrypting your internet connection is an easy and effective way to safeguard your identity whilst protecting your privacy. Virtual private networks or VPNs encrypt your online traffic by routing your it through various servers.

This ensures that your internet browsing experience remains private and protects you from being tracked.

2. Your actual email messages

Emails contain a variety of sensitive information that can be stolen or used against you. Encrypting this text ensures that parties with malicious intent will not be able to gain access to this information.

3. Your stored, cached, or archived email messages

From financial statements to confidential personal details such as medical records, it’s always good practice to encrypt stored, cached, or archived email messages. As can be seen by the controversy involving emails sent by former secretary of state Hillary Clinton, old emails can still cause plenty of trouble.

How Secure Is Your Recipient?

While you may have taken steps to safeguard yourself. You will still need to ask yourself how secure your recipient actually is. Have you taken steps to identify their identity?

Has a thorough evaluation of their cybersecurity protocols been conducted?

Failing to conduct the proper due diligence can result in the failure of even the most secure of systems.

Make sure you always follow the proper measures to have a safe browsing online and avoid using public wi-fi networks.

Categories Cryptocurrency

What Can You Buy With Bitcoin? 10 Ways To Spend Your Crypto

Bitcoin is without a doubt, the most popular and widely accepted form of cryptocurrency to date. Still, many people struggle to understand what can you buy with Bitcoin in real life. 

Created by the mysterious Satoshi NakamotoBitcoin was developed as an alternative to government controlled fiat currencies 

While little is known about Bitcoin’s elusive creator, the cryptocurrency has steadily increased in value over the years. In a 2008 paper, Nakamoto wrote that the finite supply of Bitcoins in circulation would ensure that the currency would be inflation-free. 

Unlike fiat currencies issued by government central banks, cryptocurrencies such as Bitcoin are not held by such constraints. This provides them with a degree of pseudo-anonymity and ensures that they are largely unaffected by external factors such as government interference and geopolitics. 

In recent times, Bitcoin and an assortment of other cryptos have seen an explosion in popularity. A currency that was previously used by surfers on the deep web has become part of the mainstream. However, what can you buy with Bitcoin exactly? 

How to buy things with Bitcoin?

Bitcoin or BTC has been around for more than a decade now. However, it only really gained prominence with the sudden surge of Bitcoin prices in late 2017.  

This resulted in the sudden minting of overnight crypto millionaires who found their digital assets suddenly increasing by up to 150000% within just a few months. 

Just like any other currency, Bitcoin can be exchanged for goods and services. While initially doubtful about the usefulness of Bitcoin, an increasing number of mainstream retailers have begun accepting Bitcoin payments. 

In order to buy things with Bitcoin, you’ll first need to actually get your hands on some. Unlike fiat currency, Bitcoin does not exist in any physical form. Instead it is stored on an application or program known as a cryptocurrency wallet. 

These wallets store your Bitcoins and will facilitate the transfer of funds between you and your retailer. Buying things with Bitcoins is comparable to using a credit card to pay for your transactions as long as the retailer is willing to accept payment in Bitcoins. 

Get the Tezro App

TEZRO is an all-in-one application for secure instant messaging and crypto payments, there is no need to have multiple chat applications or crypto wallets ever again. Your communication and finances are secure and encrypted under TEZRO. Try it now!

What can you buy with 1 Bitcoin?

More pizza than you can eat

What can i buy with 1 bitcoin? Pizza is the answer! Here’s a fun fact; did you know that the 22nd of May is recognized by crypto enthusiasts everywhere as Bitcoin Pizza Day? 

10 years ago, programmer Laszlo Hanyecz paid for 2 large Papa John’s pizzas with 10,000 Bitcoins. Worth approximately $30 at the time, this transaction is seen as the most expensive pizza delivery ever. 

At the point of writing, a single Bitcoin is worth $11,879.47 which means that both pizzas cost a whopping $118,794,700.  

With Papa John’s 2 pizzas for $14 deal, a single Bitcoin would allow you to buy a total of 1697 pizzas.  

To put that into perspective, you’d be able to eat pizza for breakfast, lunch and dinner every single day for more than a year. 

82years’ worthof Netflix subscriptions

Netflix revolutionized the entertainment industry and allowed us to watch what we want, when we want. All of this for a fee of course.  

In the United States, the standard Netflix package costs $11.99 per month. With 1 Bitcoin you’ll be able to pay for 990 months’ worth of Netflix subscriptions which comes up to more than 80 years of streaming in full HD. 

6 ounces of gold

Bitcoins have been described by many investors as a form of digital gold. Given the cryptocurrency’s relative resilience to external market forces, some have come to view it as a type of safe haven investment. 

At the time of writing, a single Troy ounce of gold costs $1,969.95. Hence if you choose to switch from digital gold to actual gold, a single Bitcoin will allow you to purchase 6 Troy ounces of gold. 

Where can you spend Bitcoin? 

Nowadays with cryptocurrencies becoming increasingly accepted worldwide, it has become easier to buy things with Bitcoin. Search for the terms “what can you buy with cryptocurrency” and you’ll be surprised at how much there is to learn. 

Online services

Since its inception, Bitcoin has been spent in a variety of ways. Given the nature of cryptocurrency, it should come as no surprise that Bitcoins have often been used to buy stuff online. 

The Silk Road was a deep web marketplace that dealt in a variety of narcotics. Founded by Ross Ulbricht, the Silk Road facilitated anonymous transactions between merchants and consumers thus ensuring privacy and reliability.  

The ease in which funds could be transferred coupled with the then pseudo anonymity offered made Bitcoin the default currency on the Silk Road. Fortunately, not all Bitcoin transactions are related to illegal activities.  

So, what can I buy with Bitcoin online? Well, you can use Bitcoin to pay for a variety of online services. If you’re looking for love and a relationship, OKCupid accepts Bitcoins in exchange for their services while companies like Namecheap will offer you a variety of internet domain names in exchange for Bitcoins. 

Offline services

While Bitcoin only exists in a digital form, the rise of cashless payments and e-wallets have ensured that even offline service providers have begun accepting cryptocurrencies. 

As long as you have a mobile crypto wallet, paying for offline services such as taxi rides with Bitcoin is a cinch. The University of Nicosia in Cyprus even allows students to pay for tuition with Bitcoin. 

Food & Drinks

From eating in to take outs, a cup of coffee to a cocktail, even the food and beverage industry is looking to home in on some of that sweet, sweet crypto. With mobile payment apps becoming increasingly popular as a result of COVID, you can choose to pay for both food and drink with Bitcoins. 

Online shopping

Crypto enthusiasts are often asked one of two questions by those not in the know. The first being “where can I spend Bitcoins” and the other being “what can you use Bitcoins for”. 

The answer isplenty in fact.  

Online shopping stores and e-commerce merchants were amongst the first to embrace the cryptocurrency revolution. Because transactions are performed online, it is extremely easy to transfer Bitcoins from your crypto wallet to a merchant. 

Offline Shopping

Just like how click-and-mortar stores have embraced crypto currencies, the more traditional brick-and-mortar outlets too have jumped on the bandwagon. So, if you wonder how to buy stuff with Bitcoin, there are many stores who got you covered. 

From ATMs that allow you to purchase Bitcoins to street vendors, cryptocurrency is going off the internet and taking to the streets.  

With the widespread availability of smart devices and increased acceptance, it is quite possible to purchase actual goods in real-life with a virtual currency. Retail brands like Whole Foods and Nordstrom and even Starbucks already allow users to pay with Bitcoin as you can read here. 

Cars

Paying for basic goods and services with Bitcoin are all well and good. However, can I buy a car with Bitcoin? Well, you will be surprised to know you can actually buy a car with Bitcoin. 

Crazy as it seems, an increasing number of auto dealers have begun accepting Bitcoin payments. Taking a closer look, Bitcoin does actually make a lot of sense. 

Instead of having to worry about accepting large sums of cash or spend time waiting for a money transfer, Bitcoins allow large transactions to be performed quickly with minimal fuss. 

Add on the fact that you won’t need to worry about bank charges, and you’ll quickly see why Bitcoin has become the way forward. 

Houses

Can you buy a house with Bitcoin? Buying a house with Bitcoin isn’t as impossible as some may think. Essentially, Bitcoin is simply another form of currency and all you’ll need is both a willing seller and a willing buyer. Some sellers will accept Bitcoin lock, stock and barrel where others prefer to exchange it for cash. 

Travel & Tourism

Unlike fiat currencies, Bitcoin is not constrained by borders or international regulations. This is why some enterprises have taken to using Bitcoin as their currency of choice when working with international partners. 

For example, when using Bitcoin overseas, you will not have to worry about exchange rates or foreign currencies. Being accepted worldwide, Bitcoin has the potential to be a truly international currency.

Gaming

If you’re a fan of gaming, cryptocurrencies like Bitcoins can be a godsend. The privacy that they offer along with the ease in which you can buy Bitcoin online make them ideal for gaming enthusiasts. As Bitcoins can be transferred easily and nearly instantaneously between individuals, this makes them a popular option for players and online casinos.  

Charity

Besides facilitating transactions all over the world, Bitcoins have the potential to also do a lot of good for the world. As they are an excellent store of value, Bitcoins allow an individual to easily donate sizable amounts of money to a cause of their choice. 

Because the transactions are not handled by a bank this ensures that 100% of the proceeds donated go directly to the charity. Thus ensuring that their donation is able to go that much further. 

Finally, Bitcoins and other cryptocurrencies can easily be transferred instantly without having to take government policies into account. In Venezuela for example, Bitcoin charities allow funds to be transferred directly to those most in need.  

Unlike aid packages that can be lost or stolen along the way, Bitcoins can be used by recipients to purchase much-needed goods and suppliers. 

Conclusion

Bitcoin is set to become the currency of the future. With increased acceptance all over the world and supporting infrastructure, we may even see a time where Bitcoin acceptance rivals that of fiat currencies.