The Eight Advantages Of Cryptocurrencies
People who’ve just found out about the existence of cryptocurrencies usually have a bunch of questions regarding the purpose of digital coins and their advantages. Let’s try to outline the main benefits of Bitcoin and other new-age electronic currencies.
1. Zero or very low charges. As a rule, transactions are free-of-charge. The fees, if any, don’t depend on the sum being transferred or the geographic location of the sending and receiving parties.
2. Around-the-clock availability of services. As a rule, transactions are performed in a fully automatic mode, which means 24/7/365 availability.
3. Instant transfers. While banks take 3-5 working days to complete a transaction, cryptocurrencies perform such tasks within minutes.
4. Security, reliability, high protection level. For storing the keys to funds, cryptocurrencies use tried and tested types of encryption, with a subdivision into open and closed keys. Banks and other financial organizations employ similar algorithms to buy bitcoin with credit card online.
5. The opportunity for micro-transactions. You can transfer even a thousandth of a dollar, which offer new content monetization options and other business opportunities.
6. Easy start. The registration process is super easy; there are no age or other restrictions. To become a user of cryptocurrencies, you need nothing but Internet access. You download the Bitcoin client app on your device, and it generates the address of your wallet, thus allowing you to send or receive the cryptocurrency.
7. An above-national system. Just like the Internet itself, cryptocurrencies are a system that functions above national levels. The number of companies accepting cryptocurrencies as a means of payment has surged in recent years. If the trend continues, no one will need to think about currency conversion options and the accompanying charges.
8. Market pricing. No authorities dictate the value of a cryptocurrency. Unlike with national currencies, no one forces you to use a cryptocurrency as the primary means of payment. The value of digital coins is determined only by the supply-to-demand ratio in the market.