Cryptocurrency payment? How widespread?

Basically cryptocurrency can play several roles and we can use it in almost all areas of life. Among others, it can act as a medium of exchange and we can get goods and / or services for it. It can also be used as a savings account or as a way of sending money by bank transfer to our friends living abroad.

Nowadays, although the number of cryptocurrency users is growing rapidly , let’s not forget the statistics. At the moment, there is not enough trust in cryptocurrencies, as it is quite incomprehensible. Who dares and wants to invest in cryptocurrencies is strongly influenced by two things: the income situation on the one hand and age on the other. The use of cryptocurrencies is still the most common in adults and economically active individuals, typically between the ages of 30 and 45.

Looking around in Hungary, there are about 150 companies in Hungary that accept cryptocurrencies. These are mostly webshops, but even stores in some shopping malls in Budapest have accepted it. There are currently about 20 places where it’s accepted in Budapest, but there are also a few in the countryside.

At the same time, cryptocurrency has not only spread and continues to spread in the legal market, but it is also favored on the dark web, for example, as a means of payment, taking advantage of its still incomplete, severely deficient regulation.

The Hungarian cryptocurrency.

It is interesting to note that the Hungarian Vizsla Inu (HVI), which is a domestic cryptocurrency, has been a great success recently, fulfilling its investment and charity goals, by increasing its exchange rate by more than 1,000,000 percent in a short period of time. Significant international interest means that the cryptocurrency has already been purchased from more than 50 countries. The goal of the creators is to set aside 10 percent of the coins to help animal shelters.

To sum up, the spread of cryptocurrencies is currently in progress, but their presence is already affecting the entire world. Whether in the long run it will continue to spread in the future as a means of payment or be absorbed by the internet and history is still in question. For the time being, it will certainly continue to spread to some extent, but the issue of its unregulated nature and the question of its global acceptance must be discussed and clarified in the near future.