At some level, cryptocurrencies can serve as a medium of exchange, although their acceptance is currently limited. Any two parties can choose to transact in cryptocurrency or through any other medium if they wish. ... This clearly indicates that bitcoin serves as a medium of exchange.One of the most popularly known cryptocurrencies being the Bitcoin is now accepted by many online stores and merchants.We at Victorytrade invest huge amounts of money too in this internet "precious stone" and share the profit we make from our investment with users who have invested in our platform.Bitcoin can achieve the status of money and medium of exchange without being directly used in day-to-day transactions. Paper money, credit cards, or other tools can be denominated in bitcoin and used as means of payment.