What are the most common uses of cryptocurrency?

1. Payments: Cryptocurrency is primarily used as a medium of exchange, allowing users to purchase goods and services online without the need for a third-party intermediary.

2. Investing: Cryptocurrency can also be used as an investment asset, with many investors choosing to buy and hold coins as a store of value over time.

3. Trading: Cryptocurrency is popularly traded in a speculative manner on exchanges, with people often buying and selling coins as a form of day trading.

4. Remittances: Cryptocurrencies provide an attractive option for remittance payments across borders, allowing people to instantly send money to family members overseas without costly fees associated with traditional forms of money transfer.

5. Security: Cryptocurrency can be used to enhance existing security protocols, providing a layer of encryption to secure sensitive data or financial transactions.