Cryptocurrencies, such as Bitcoin or Ethereum, are the talk of today. Although it is a "currency" with some instability, it is certainly a valid option for many followers of this world and even people in countries with economic difficulties.
We have the case of Venezuela for example, which in times of crisis begins to look at Bitcoin as a possibility to safeguard its beloved undervalued money. But how far is it possible to live alone and only on Bitcoins?
See also: Podcast: Cryptocurrencies and BlockChain in detail
Not long ago I decided to enter the world of Bitcoins and cryptocurrencies. Just over a month ago I invested some change and turned some of my money into memories of virtual transactions. After all this is exactly what Bitcoin, Ethereum and others are.
Having spoken in my wallet that I use to store my digital coins, I decided to do a real-world experiment. How far could transferring all my money to Bitcoins live? I didn't transfer it all, but I lived exclusively on Bitcoins.
I started by creating an account on Xapo and ordering a physical card for payments. This card has an annual fee of 10 € (first year free) and is basically a prepaid VISA. You carry the amount you consider necessary and spend it according to your needs.
Living alone with Bitcoin has become an easy and enjoyable experience.
You will be able to make unlimited payments (as long as you verify your identity with a citizen card photo) and you are free to make as many payments as you want per week.
Cash withdrawals at an ATM, this one does have a value. If at the time of the video were 10% of the value, with the update this week, the value reduced to € 2.25 per withdrawal regardless of the amount you request. That is, if you withdraw 10 € you will pay 12.25 €, if you withdraw 100 € you will pay 102.25 €.
In conclusion to the video, which I advise to see, it is simple and easy to live on bitcoins. It has its less positive sides like delaying physical to "virtual" money transactions and withdrawal rates are not the best, but it is more than possible to abandon banks and live on cryptocurrencies.
But I do not advise you to. Yes, I advise you to invest some change and let them relax in the wallet. Remember not to invest more than you are willing to lose, although very interesting, this is still a risky option for your capital.
Other relevant subjects:
TenX ICO: The company that wants to make Bitcoin usable in the real world.
What is the best wallet for Bitcoin and Ethereum cryptocurrencies?
Entering the world of Bitcoin and cryptocurrencies is simpler than it sounds!
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