Some people say that cryptocurrencies are trying to be someone that they are not, the major drawback of the cryptocurrencies is that it can’t be used on a regular basis in daily life. This has been discussed more by the profit-revolution.com in very recent times.
Till now we do not have any such assurance from bitcoin like we have from our traditional currency. For example, if you have a $1000 in the pocket and you leave home, you know at the end of the day, you will spend some and keep some and can live on it for a day. But when it comes to cryptocurrencies, you might have a bitcoin in your pocket, but you will not be as confident to use it to get something. A bitcoin can’t help you to survive all throughout a single day because no one would accept your bitcoin. So for this, you will have to convert your bitcoins into cash but firstly you will need a Bitcoin mixer to mi the cryptos without any logs.
We have not been comfortable with bitcoin in recent years, it will take us a longer time span to get into the comfort zone of a traditional currency. Many cryptocurrency owners have complained that they are not comfortable to use cryptos because they can’t use the cryptos for regular use, such as in supermarkets and other stores.
The major obstacle is right now there is no such easy way to trade cryptocurrencies easily. They are making many new projects and using these bitcoins so that they can educate people and people to understand the use of bitcoins easily.
Experts want the geeks to understand that the bitcoin is easy to use and very soon they will become user friendly. Many have failed to understand that cryptocurrencies needed to be used on a regular basis, as a daily commodity to buy stuff in daily life. Some feel that right now it is not important to make bitcoin quite compulsive in the economy for daily purposes.
Now since IRS considers cryptocurrency as an asset so as many times you exchange it or use it to buy or sell anything, it will be taxed and your taxes will be deducted for the use of it. I suppose you are able to convert your bitcoins into cash then your taxes will be deducted basis the capital gain rates.
The transaction fees also fall and rise, just like the value of bitcoins, sometimes the transaction fees have been more than $50 dollars while sometimes it has been $3. The difference is huge, which is very unexpected. The history of bitcoin publication has been absurd also the production of it is unreal at times.
Major Factors
Some people are dead against making bitcoin available for regular use because the price of the bitcoin is so volatile that doing any regular transaction or regular payment could turn out to be risky. Many might have to incur severe losses due to the volatility of the coin. They believe someone must look after it so that the loss is not incurred while we use it for regular purposes.
The value of bitcoin varies when it comes to holding one and trading with one. While you trade using bitcoin, it becomes necessary to understand that the value of the bitcoin becomes more volatile when we trade with it. While on the other hand, the price of the bitcoin could increase if the bitcoin is held. So, it is advisable that you do not become much impatient and try to think twice before you use the bitcoin for any purpose. Some people still want it to be another real payment method instead of just using cash for it.