What are the Benefits of Cryptocurrency?

Question

The most basic question that an investor usually searches for is, What are the benefits of cryptocurrency exchange on economy? and how can they benefit after investing on the cryptocurrency?

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Marko Smith 3 years 1 Answer 1931 views 5

Answer ( 1 )

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    Summary: Recent upsurges in the value of Bitcoin has established cryptocurrency as a viable investment with blockchain technology that backs it up, can have a lot of positive impacts on the wallets and trading practices of mainstream investors worldwide.

    Having emerged as a digital alternative to traditional methods of exchange like cash or credit cads, cryptocurrencies have generated alternative points of views. While looking at the more positive aspects, there are many advantages of cryptocurrencies.

    1) The benefit of ease of transaction due to the one-to-one affairs between two parties.
    2) Transactions are more confidential and encrypted and each transaction made is a unique exchange between two parties.
    3) There is no transaction fees. Service charges might apply in case of third party management services to maintain your cryptocurrency wallet, which is much less as compared to traditional financial services.
    4) Helps ease international trade, using peer-to-peer mechanism of blockchain technology.
    5) The strong encryption techniques employed throughout the distributed ledger and cryptocurrency transaction processes are a safeguard against fraud and account tampering, and guarantors of consumer privacy.

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