Last Updated on September 23, 2023
Top Benefits of Cryptocurrency
Nowadays, the world is evolving at a remarkable speed like never before. Newer and newer ones are replacing every technology. So is the currency. Newer and Newer modes of money are coming. First online banking systems evolved, and now a whole new alternative method of this banking system has developed with computer and math-based currency instead of paper money. Instead, the bank has some apps and websites instead of the bank that controls your money the way you want. Online ledgers replace banks.
There is no need to store your money in banks when you can keep them in your digital wallets, which have no risk of being stolen or lost. They may have a chance of hacking, but it is only one in a million cases.
Every coin in cryptocurrency has the stamp of its user identity and is unique on its own. The cryptocurrency also allows many investments options way better than the normal ones. One website which will enable you to trade and invest your money in the form of a bitcoin visit website.
Crypto is a safer mode than the basic bank transfer system because, in the primary system, there is a lot of check balance over the transfer by government officials and authorities. But if you want to perform an anonymous transaction, you can use the bitcoin method because it is way safer, and there is no way you will have to face identity theft or any problem like that. You can enjoy “your money, your choice how you wanna spend it” right.
Foreign transfers are also easier by this. Ordinary banks take 2 to 3 days for a transfer because of so many verifications and checks and balances. Still, in the case of bitcoin, you can transfer an enormous amount without any hurdle, with the highest time delay of 10 minutes.
Foreign transactions are more enjoyable because no authority can hop onto your hard-earned money to demand taxes and transaction fees from you. Another benefit is no court or agency can take control of your money. There is no way of freezing the crypto wallet like ordinary bank accounts.
Good Investment Mode
There are two types of investment markets available to invest your hard-earned money and hope for good profits. One is fundamental stock exchange markets where you can hand over cash to a Broker and work for you to earn profit. But in crypto, you will have to do it by investing in an exchange platform and after the worth of money boosts, sell them again to get profits.
In an ordinary stock market, there is a widespread period to wait for your shares to rise and then sell your stocks at the best time to gain profits. But the point to be noted is that its value fluctuates more rapidly than other primary paper note currencies.
The value of bitcoin was almost zero about a decade ago. No one was ready to get it even for free, but then the time changed, and now it has increased by many folds, and one bitcoin equals 30 lakh Pakistani rupees. We can also use gold or property for investment, but they give slow results. Bitcoin is also called digital gold. Other stocks do not have widespread acceptance, like bitcoin.
There are two types of currency. One is centralized, and another one is decentralized. The centralized one is that on which the government and authorities have their grip. There are many institutes in the way of a single transaction. The rules must know every possible information about this transaction. Here I mean everything like the purpose of the marketing, amount of transaction, date and time of the trade, and the relationship between both peers.
These all the boundaries are a pain in our ass, so if you want to follow the rule of “your money, your choice how you wanna spend it,” you must shift to a decentralized currency like bitcoin. No authority will then have the right to charge you a fee for keeping your money safe, and transportation of your money from one point to another you can easily do on your own.
Government Officials will also not be able to hop onto your money and demand tax. All the transactions will benefit from peer-to-peer without any bank and any authority within both of them. One can make fast and confidential transfers.