Cryptocurrencies are free-software money, so I use them

Fiat currencies keep losing value and are controlled by a small elite. On the other hand, there are open-source cryptocurrencies that cannot be inflated and work in a peer-to-peer network, without the need for a central bank or single administrator. Why pay attention to them and use them? How to do it?

These currencies keep gaining value compared to fiat currencies, because they cannot be created out of thin air as central banks do when it is in their interest. That is why people who save or invest in cryptocurrencies have a big advantage over people who save in fiat money.

But they are not just an investment tool; they are currencies that can be used to buy all kinds of goods and services. There are a large number of companies that accept cryptocurrencies. If a company does not accept them directly, it is often possible to purchase gift cards through companies that act as intermediaries¹. It is possible to live on your own only using cryptocurrencies; I have done so for some time and continue to use them in my day-to-day life.

I have several cryptocurrencies, so I use them when their value increases as it suits me best. If it is not convenient for me to spend them at the moment because their value has gone down or I want to save, I use euros. Using cryptocurrencies has nothing to do with having a bank account. When you use cryptocurrencies, you are responsible for the safekeeping of your funds yourself; you do not depend on a third party who can cancel transactions, limit withdrawals, etc. Another difference is that the funds are not associated with a physical person's identity, but with a pair of keys, public and private. With cryptocurrencies your identity is behind those keys.

However, you need to have a computer or mobile phone and some computer skills to use cryptocurrencies. In addition, you need to get them somehow, either by earning them in exchange for work done or by buying them.

It can also be scary to buy when the price is high. The solution is to buy regularly regardless of the market price, i.e. buy every month, every week or every day. It would be best to buy more when the price is lower. In the long run you should increase your wealth if you do this and avoid buying cryptocurrencies that are not worth it.

The tax thing is something that also worries some people, but you don't need to pay anything if you never sell 😉.