5 Incredible Benefits Of Cryptocurrency

In recent years there has been a lot of talk about the value of cryptocurrencies, as this form of payment started flooding the market. At first people were reluctant to consider it, it seemed scary and unreliable. However as the time passed, numerous benefits of using cryptocurrency came into spotlight and it started gaining ground on the international market.

In this article we will consider some of the main benefits of opting for cryptocurrency, and what makes this manner of monetary transaction the future.

Significantly lower risk of fraud

Your cryptocurrency is digital, and it cannot be counterfeited or reversed arbitrarily by the sender, as with credit card charge-backs. A recent study in the US has shown that 46 per cent of people have experienced credit card fraud at least once in their life. On the other hand, if you consider that when it comes to digital currencies, the numbers are significantly lower, it makes a good case in favour of this method of payment.

Easy access

If you take into consideration that there are approximately 2.2 billion individuals who have access to the Internet or mobile phones, but not necessarily to the traditional exchange, these people represent the ideal customer base for the cryptocurrency market. We can now easily access and safely buy digital currency from our PC or smart phone, and proceed with the desired transactions.

Protect your identity

In order to better understand how exactly digital currency protects your identity, it is perhaps best to compare it with cash, considering that they function in a very similar way. First of all you are not  required to provide your credit card information to a vendor, thus exposing your full credit line to them. Secondly it is important to understand that while credit cards operate on a “pull” basis, meaning the the store initiates the payment thus pulling the designated amount from your account, cryptocurrency uses a “push” mechanism, this allows you to send exactly what you want to the merchant or recipient without revealing any further information.

Higher inflation resistance

Issue of inflation is definitely not something that should be underestimated. The cruel reality is that the longer money just sits in your account the less it is worth. For example, just 17 years ago, the US dollar was much stronger than it is today, so $10 in 2000 equal $14.35 in 2017. But when it comes to digital currencies, their resistance to inflation is quite evident. Cryptocurrencies like Bitcoin are designed to be somewhat immune to M0/MB inflation, considering  there is a cap on the amount in which they exist. We just have to keep in mind it is predicted that when the cap of around 21 million coins is reached, no new blocks will be generated.

International level of usage

If we consider that cryptocurrency is not bound by the exchange rates, interest rates, transactions charges along with other charges of any country, it is clear that it can be used at an international level without any major problems. Such type of payment can save us both time and money  which would be otherwise spent on transferring money from one country to the other. The fact that cryptocurrency operates at the universal level makes the transaction procedures a lot less complicated.

So there you have it, five incredible benefits of opting for cryptocurrency. If you have your insecurities just think how people reacted when credit cards first came out, and then consider that this is an even safer and faster transaction method.