So I am not really into cryptocurrency and only have some basic knowledge. As far as I understand the idea between crypto (or especially bitcoin) was a decentralized payment system. Everything I heard about crypto the last few years was only about trading and value going up and down blabla. How is it going so far for using it as a payment method? Are there countries, systems, spaces in the internet or anything that actually use crypto for paying? Whar are some good examples? Do you yourself use some of these?
And are there maybe even PayPal-like Apps which you can use for paying in crypto to others?
It was a useful alternative to Western Union and other international currency transfer services many years ago, but I don’t have a current use case other than as part of a diversified asset portfolio. Relative to metals it’s easier to buy and sell if needed, and you still have custody of the goods.
One Bitcoin is still worth one Bitcoin, it’s the value relative to other currencies that is highly volatile.
It can be used for payments as others have stated, but can be a hassle since, in Australia at least, you have to declare all of it and pay capital gains taxes, generally requiring use of a third pay like Koinly to manage it.