Are Cryptocurrencies Interconvertible? Yes, But Beware Of Volatility

Cryptocurrencies, unlike virtual currencies earned in video games, are exchangeable for real currency and are called convertible virtual currency

Cryptocurrency is getting more and more popular with every passing day. From young entrepreneurs to global business magnates, all have been dazed by this new disruption in the global economic setup. But a few investors or potential investors are still questioning certain features of the crypto coins. In India, crypto finance remains a grey zone and most businesses prefer cash or e-commerce transactions. The scenario may change in the future but for now, inter convertibility of cryptocurrency can save us from that. Many wonder whether or not it is possible to convert cryptocurrency into fiat currency or cash. The answer is yes. Cryptocurrency is interconvertible to fiat currency. You should remember that crypto money is not the same as money earned in games or such platforms but it is real money though you can't touch it or see it. Convertible virtual or digital currency Cryptocurrencies, unlike virtual currencies earned in video games, are exchangeable for real currency and are called convertible virtual currency. It refers to such currency that can be used as a substitute for real and legally recognised currency though it may not have a legal tender. These conversions can be easily made through currency exchange services or peer-to-peer networks. Bitcoin, Ether and Ripple are some examples of interconvertible crypto. However, Bitcoin remains the most popular in the game.