1.4 Uses of Cryptocurrency

1.4.4 Decentralized finance (DeFi):
DeFi uses blockchain technology to offer financial services like lending, borrowing, and trading without intermediaries. This democratizes access to financial services and reduces costs.

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1.4 Uses of Cryptocurrency

1.4.6 Tokenization of assets:
Tokenization converts physical and digital assets into blockchain-based tokens. This can include real estate, art, and commodities, allowing for fractional ownership and easier transfer of assets.
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.4 Uses of Cryptocurrency

1.4.3 Remittances
Cryptocurrencies provide a cheaper and faster alternative for sending money across borders compared to traditional remittance services. This is particularly beneficial for people in developing countries where access to banking services is limited.

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1.4 Uses of Cryptocurrency

1.4.1 Digital Payments

Cryptocurrencies enable fast, low-cost, and borderless transactions, making them ideal for digital payments. Bitcoin, for instance, is used to purchase goods and services online and in some physical stores.

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1.4 Uses of Cryptocurrency

1.4.8 Privacy and security:
Some cryptocurrencies, like Monero and Zcash, focus on enhancing privacy and security. They use advanced cryptographic techniques to ensure transaction details are kept private and secure.
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1.4 Uses of Cryptocurrency

1.4.2 Investment and speculation
Many people buy cryptocurrencies as an investment, hoping that their value will increase over time. The volatility of the market also attracts speculators who aim to profit from price fluctuations.

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