My experience with Cryptocurrencies

I really love crypto-currency, for how the core fundamental of it works. De-centralized not only means independent and secure, it also means no authority in the control of my assets.

People have legal concerns over it, and I can get it. Scammers and outlaws are using crypto as their currency of choice. But if you look at the big picture, people are still scamming with actual cash jumping the guarded fence of any modern banking system.

I like crypto-currency for few reasons including a big one which is, no paper to get crypto. There is no bank that holds crypto, so I do not need to run with my paper and passport for buying things online.

You may call me lazy, but conventional banking requires so much papers and documents. It just feels boring. And then there is a limitation on how much I can use, a single entity controlling fees and everything which changes according to how much profit they are making.

For international transaction, you have limitation, and you have to endorse your passport. I like crypto for this reason, if I want to buy crypto, I can do it with minimal effort. I do fear crypto-currencies though, and I don’t think this will get solved soon.

First fear I get with crypto is how transfer works. Once you transfer crypto from one wallet to another, you can’t reverse it. Meaning if I somehow eff up the transaction and send someone else the crypto, I have to rely on the person for refund. Transfers can not be reversed.

Second is how complex and technical this thing is. I can buy and use crypto without problem but If I open a wallet for my dad, he can not use it. Popular applications are not much user friendly and explanatory, and some terms of it are hard to grasp.

Bangladesh have not yet adopted crypto, so using it here feels illegal, although the chance of you getting in jail for buying a google play gift card with is very low. But it also means no local merchants supporting it, and no physical shop legally taking crypto payments.

Buying crypto is also somewhat hard. If you want to buy from popular option, you need conventional currencies, papers and identity verification. If you want to buy from non-custodial platforms, you end up paying more than the market price. Add the network fees, and the prices are 20-30% more than the actual value.

If you successfully buy some of it, you are ready. Crypto is widely accepted now and we can buy nearly every digital product with crypto nowadays. If you want to spend your crypto, you can do so.

If you want to buy domains with crypto, you can with Porkbun. They are an already amazing company selling domains and hosting (the domain part is better than the hosting part, though).

You can buy gift cards, Amazon cash cards, Viber / Skype credits and mobile recharges, you can do so in This is an amazing store which I really love for how simple and easy it is to use.

As I have discussed earlier, local adoption of crypto hasn’t been established yet, so we may have to wait a bit more to get coffee with your favorite crypto-currencies.

In conclusion, my experience with crypto is very mixed. For local trouble with laws and restriction, the initial arrangement of getting crypto on your wallet is hard. But if you can get some, the rest is a very pleasant experience. If you have any question, start a thread in the comment. It is my personal website, so the discussion can be informal. Thanks for reading.

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