1. Peer-to-Peer Payment: Cryptocurrency can be used for peer-to-peer payments, similar to cash transactions but with the added benefits of greater security and transparency.
2. Smart Contracts: Smart contracts are digital contracts codified in a computer protocol that are self-enforcing. This eliminates the need for a third party or intermediary and makes it possible to automate various processes.
3. Store of Value: Cryptocurrency can also serve as a medium of exchange, similar to conventional currency, or as a store of value that can be held for a period of time.
4. Investment Opportunity: Cryptocurrency is increasingly viewed as an attractive investment option by a growing number of venture capital and private equity firms.
5. Transaction Processing: Cryptocurrency can also be used to process transactions more quickly and securely than traditional payment methods.