Are Cryptocurrencies As Good As Money?

Many experts and economists don’t appreciate cryptocurrencies and have no interest in dealing with them. However, there are a lot of other people who beg to differ.

Using cryptocurrencies as money in a lot of sectors and places in the finance world is possible. Unsurprisingly, the one crypto that is most useful as money is, of course, Bitcoin. Bitcoin gained this position because it is accepted as a payment method rather than any other cryptocurrency. But today, there are more cryptocurrencies that are accepted by companies and retailers.

More than 50 companies today accept cryptocurrencies and a very small number of them actually don’t accept bitcoin. Most of them do, but there are plenty that accepts Dash, Monero, and Litecoin as well. It is also very important to notice that there are more than 4.000 small businesses that accept cryptocurrencies as a method of payment. Users use different tools to find out if their favorite store or bar accepts cryptocurrencies such as mobile phone apps and websites.

Even though bitcoin is still number one when it comes to most used cryptocurrency as money, that doesn’t really make it most usable because of its technical properties. No one can really guarantee that Bitcoin will be accepted at a large scale and that some of its rivals won’t jump on the scene and overtake the number one spot. Bitcoin Cash, for example, has a bigger block size which makes it a great option to widely accepted and used as actual money.