
We strive to provide up-to-date information, but make no warranties regarding the accuracy of our information. Ultimately, you are responsible for your financial decisions. FinanceBuzz does not provide credit cards or any other financial products. FinanceBuzz.com does not make any credit decisions. While it lacks a physical form, a Bitcoin is still a unit of currency. Its value is determined by how much people are willing to trade for it, backed by a secure log of all transactions to date the blockchain, if you want to learn the technical terms. It’s no different than the digitized money in your online bank statements, except that you can’t withdraw a Bitcoin unless you sell it for another currency. You can, however, spend it online if stores accept it. As crypto owners continue to increase, it makes sense that digital asset becomes the mode for day-to-day transactions. Actual usage of crypto is at 38%, even though several owners still choose to hold their crypto assets 39%. About 22% of owners use it for staking and lending. But there is an 11% who are able to utilize crypto for payments.
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