I am so tired of hearing people tell me how cryptocurrency is a scam. It's generally on social media, but it is still annoying.
Here's the true power of cryptocurrency. Now keep in mind, I follow the crypto markets. So I have a good idea of what's hot and what's not. Maybe not so easy for the average person out there. (People outside our space that cry foul and scream scam every chance they get.)
I have a credit card through an exchange that gives me crypto rewards each time I use it. When I started using the card, I decided to fluctuate between SHIB rewards and PEPE rewards. So each time I buy some groceries I get a little SHIB or Pepe back. Over the course of time this amounted to about $120 in cryptocurrency rewards.
Not a big deal, right? Well that $120 in crypto rewards is now worth $862. I have a around an $1100 credit card bill leaving me with just $238 to cover myself.
So Pepe and Shib may not have been the best choices. At the time however, they were getting the most gains.
I get the memecoin craze is a little annoying. But we're still comparing deflationary money to inflationary money.
If people would take a little time to learn the technology and how to trade, maybe they could see the benefits.
IDK if someday I'll walk into the store and pay for groceries with PEPE or SHIB. What I do know is cryptocurrency is still in it's infancy, and if people have fun with their money and give it cute names with cute little mascots, I don't see what the problem is. Who knows, someday I may use SHIB tokens to buy a new car. I mean is it much different than putting a picture of your favorited sports team or cartoon character on your credit card. It's just about having a little fun.
And yes this could have went the other way. My $121 worth of rewards could have been worth 0 had the market moved the other way. Again, you have to learn the markets and the cycles the markets take. Still, I took my rewards through a bull run and this is the result.
Truthfully, I was hoping the rewards would cover the entire bill eventually...... Sheesh.... Scammed again. 🤣