How Cryptocurrency Should Become Common Currency

Blog by Dagcoin

Despite the fact that Bitcoin and some other Blockchain-based cryptocurrencies have come into a wider use, it is a topic with a certain kind of infamy. Stories of abuse and shady dealings keep appearing in media when it comes to cryptocurrency as a whole, but actually there is a lot positive going on as well. Here’s how we intend to be a part of that positive change.

Cryptocurrency that’s actually for the masses?

Anyone now can get an e-wallet, invest a little and wait for profit. Not everyone goes further than that and actually looks for ways to further use their chosen cryptocurrency. There are two reasons for that:

  • Volatility
  • Lack of trust

What makes cryptocurrencies volatile today is that they can run a lot on hype. Hypes, however, don’t make good investments, meaning what value was generated in large amounts can suddenly run out. Another reason is that despite cryptocurrencies gaining popularity, their user base is still smaller when compared to common currencies.

A solution is a change in mentality, to actually consider cryptocurrencies not only as an investment, but as means of exchanging value. That would make them more attractive to a larger group of people. So what’s keeping all that from happening?

Vendors should be approached

The thing with currently popular cryptocurrencies is there aren’t many people lobbying for their use as a common currency, like paying for goods and services. Part of it is because it’s decentralized nature and the other part is a smaller group of users.

Dagcoin’s goal is to do it differently through inviting various companies to be a part of it from the start, while remaining decentralized through its common goal and building usefulness for the masses.

There is hope that Blockchain’s growing popularity will convince more vendors to be interested in it, but a lot would still need to change. DAG-chain already improves on things that are damaging to Blockchain’s growth, so we hope to be that change altogether.

Read more: 3 Reasons Why the Cryptocurrency Scene Needs to Change