What Type of Cryptocurrency User are You?

May 2, 2018 by Adrian Thorpe

Types of Crytpocurrency UsersThere are three different types of cryptocurrency users, well to be factual there are just two main types, the third are people who do not understand the concept and will often also be critics of cryptocurrencies, and their lack of knowledge leads them to never want to start buying into any of them.

By checking out at any of the mainstream media outlets, whether on radio, television or by perusing finance related websites, to discover critics of cryptocurrencies, and it is often surprising to hear them spout complete nonsense about them.

The hard and simple fact however that anyone who is talking down Bitcoin, Ethereum or any of the ever-growing number of coins and tokens that are going live and becoming available, is that they are going to be here forever, and there is always going to be a need for them.

As such, if you have been considering buying into any cryptocurrencies, then please do not be put off doing so, and by buying into them you will then fall into the other two types of cryptocurrency users, of which you will find a description of them both below.

But before you do start to buy any coins or tokens, always make yourself fully aware of the risks of doing so for validity is something that everyone who does start to use cryptocurrencies is going to have to very quickly get used to but volatility regarding the values of all cryptocurrencies is not always a bad thing of course!

Investors and Cryptocurrency Speculators

The main type of users of cryptocurrencies are those people who look at them as a means of investment, and as the very short history of all cryptocurrencies has proven time and time again, there are some huge fortunes that can be made when investing in any of them.

However, there are losses that can also be racked up no matter which cryptocurrencies you choose to invest in, however there are always going to be winners and losers on both side of such a trade, and if you are prepared to take part in some high-risk investments it will be the cryptocurrency trading environment that will certainly suit you down to the ground!

It is by buying into newly launched coins and tokens that can also be a very profitable way to profit from cryptocurrency related investment opportunities, and each day of the week there are always lots of different initial coin offerings and token generation events going live.

But at the end of the day just keep in mind that your investment funds are always going to be at risk no matter what coins or tokens you buy, but the rewards can be huge if you do invest in the ones that are backed by a business concept or project that is very likely to be embraced by a huge number of people, and those returns could be enormous even when investing very small amounts of your cash in them!

Using Cryptocurrencies as a Payment Method

The other type of person who is going to be interested in using cryptocurrencies, are those who simply want to use them as their initially intended purpose and that is as a payment method that allows anyone in any country of the world to pay for goods and services online or via a mobile device in a completely hassle free and low-cost type of way.

Sadly, we are still at the point in time currently, whereby there are way more people investing in cryptocurrencies in the hope of making money out of them than are using cryptocurrencies as a form of payment method.

However, I am more than confident that as the years do tick by and the very strongest and most popular cryptocurrencies become much more mainstream, the number of people using cryptocurrencies as payment methods will overtake the number of people simply using them as an investment tool.

It is going to be the cryptocurrencies that are not only easy to use but those that have the very minimum of transaction fees and charges associated with using them that are going to be the most sought-after ones in the long term.

As the days, weeks and months do tick by there will be more and more people who do venture into the cryptocurrency environment, and the more people that do the more ways and options there will become for you to buy a huge range of different things using them.