Post
Topic
Board Trading Discussion
Re: How can the average person use crypto?
by
dothebeats
on 30/03/2018, 21:07:50 UTC
Hey all, I am very new to crypto. Cryptocurrency is becoming a routine topic to talk about in households today.

The biggest issue people always bring up is that it is very difficult to use it to buy real, tangible products. Does anyone have any ideas of how to do this with limited fees and restrictions on the consumer? And are there any ICOs that are trying to solve this problem?

Cryptocurrencies' economy isn't really built up as of yet. There are only a few merchants willing to accept bitcoin in exchange for their goods due to the fact that the volatility is scaring them away to harbor any interest in integrating it into their business. As for the fees, you can always set the lowest possible fee that will confirm it in the next block at the given time. Most of the wallets right now have embedded this feature as well. The only restriction I can think of regarding crypto purchases is the cryptocurrency itself; will the merchant accept your payment or not?

So far, no ICOs have solved the same issue the big names of crypto have been trying to combat since they became big. In order for the crypto economy to flourish, businesses and merchants need to appear, which, so far, is not happening.