Cryptocurrency has been in the news a lot lately. There is a lot of interest in this new form of money. There is more to cryptocurrency than just investing. Here are four things you may not know about crypto.
You can get transaction notifications to a wallet
Crypto push notifications are a way for wallets to send notifications to users about their account activity. They can be used to notify users of new transactions, incoming funds, or other important information. Crypto push notifications can be a valuable tool for keeping users up-to-date on their account activity and can help them stay informed about their finances.
You can do your banking via DeFi
Decentralized finance is known as “Defi”. It is a peer-to-peer financing system rather than traditional centralized financial systems. The system is decentralized and based on the Ethereum blockchain. The DeFi ecosystem has an expansive network of financial instruments and integrated protocols used in everything, such as lending, borrowing, etc. Ethereum smart contracts have Billions of worth locked in them. The decentralized system is the most active segment in the blockchain space. So many institutions, developers, and individuals are associated with it.
With Defi, MetaMask (your data) stores private keys, passwords, and seed phrases in some encrypted format. It is used locally on a device. It enables you to have proper access to your data and accounts. When you entrust your personal information to centralized services, you rely on them to keep your data safe—and as countless hacks have shown, they don’t always succeed.
Additionally, Defi apps are built on open protocols that are permissionless and borderless by design. This means anyone can access them without going through an intermediary or asking for permission. And because they’re built on the blockchain, they’re always secure and tamper-proof.
You can send money globally instantly
Because cryptocurrencies are digital, they can be instantly sent anywhere in the world. This makes them ideal for international money transfers, whether sending money to family or paying a business supplier. There are a few things to remember when sending money with cryptocurrencies.
First, make sure you’re using a reputable cryptocurrency exchange or wallet. Second, remember that cryptocurrency prices are volatile, so the amount of money you send may be worth more or less by the time it arrives. Finally, double-check the recipient’s address before sending any funds.
You can buy art (NFTS)
When you buy an NFT with cryptocurrency, you buy a digital asset stored on the blockchain. This means that the support is immutable and cannot be changed or deleted. The investment can be anything from a digital painting to a video game character.
NFTs are bought and sold on marketplaces like OpenSea and Raible. These platforms allow you to browse and buy NFTs using cryptocurrency. When you buy an NFT, you are buying it from the creator or from another user who is selling it.
The price of an NFT can vary greatly depending on what it is and who created it. Some NFTs have sold for millions of dollars.
