Top 5 cryptocurrency advantages

Top 5 Cryptocurrency Advantages

Cryptocurrency Advantages

Once again, we have a special article for you. This time, we will be tackling the latest sensation in the online trading world – the cryptocurrency market. If you’ve been following our news lately, you know that bitcoin has been continuously rising recently and is now worth thousands of dollars. However, if you’re still not sure if it’s worth it to jump into this kind of investing, please note that there are many more cryptocurrencies and all of them bring you certain benefits when you decide to invest in them. This is where we will present some of these benefits to you: these are our top five cryptocurrency advantages. See what the main perks of this kind of investing are, and we guarantee that you’ll be impressed when you finish reading this.

Cryptocurrency advantages | the Bitcoin craze

The first of our top five cryptocurrency advantages is not about these currencies in general, but about their most prominent member – bitcoin. The meteoric rise of this virtual coin is now all over mainstream media, as the value of a single bitcoin exceeded 19,000$ at one point, which is approximately a 19-fold increase in value in just one year. What is even more important, it seems like this trend will last because more and more people getting aboard the bitcoin bandwagon and making investments. Not only that, but more and more merchants are beginning to accept this as a regular payment method, so your possibilities are growing more numerous by the day. In short, bitcoin has become a global trading phenomenon and it’s still not too late to get in on the action, but there are plenty more reasons why you should trade cryptocurrencies. Read on and see what else they offer.

Cryptocurrency advantages | simplicity

Another of the five main cryptocurrency advantages is the simplicity of their use. You can literally complete your transaction in just a few clicks, plus you will never suffer any big expenses in the process. Banks and credit card companies will charge you a lot for transferring money abroad, but this way you have absolutely nothing to worry about. All you need is the other person’s wallet and that’s pretty much it. No complicated paperwork, no waste of time – everything is done within minutes at most. And if you’re not a user yet, it’s very easy to become one. Cryptocurrencies are accessible to pretty much everyone and all you need to do is sign up. But don’t think for a second that this means that the security is lacking. Quite the contrary!

Blockchain Principle

Blockchain Principle

Cryptocurrency advantages | security

Apart from their simplicity, the main cryptocurrency advantage is their security. You see, because you only need wallets for the transactions, you never really disclose any other details about yourself. Even if you conduct business with various merchants and companies that accept this type of payment, you can be sure your personal information will always be safe because it will be encrypted in a way similar to how the NSA does things. On top of that, because everything is computer-based, you don’t have to rely on an institution that will act as an intermediary in the transaction and demand various details from you, which is another way of protecting yourself. And since you keep your bitcoins in your own wallet, there is no need to worry if your funds are safe – you are in complete control all the time. Finally, we also have to say that chargebacks, one of the main sources of online frauds, cannot be made, which also significantly adds to your security.

Cryptocurrency advantages | transparency

Transparency is also among the five main cryptocurrency advantages. You see, because of the nature of this type of trading, every transaction can easily be verified thanks to the blockchain technology. Every person with an internet connection can check whatever they want, but your personal information will still be protected. As a consequence of this, any attempt of fraud will be immediately visible to both developers and the trading community, so the reaction to will be quick and precise. The same applies to merchants and them charging any extra fees. You don’t have to worry about fine print on a contract which will be used to trick you – every merchant who tries to charge anything extra has to inform you properly. Furthermore, you never have to worry about counterfeiting or manipulation. This is simply impossible to accomplish, again thanks to blockchain technology. Another thing that benefits from increased transparency is inflation, which also known at all time (although it is pretty much close to zero). This is another thing you can’t know about real currencies because central banks will always hide that information. But what is perhaps the most important thing about this type of trading is that it offers the same possibilities to everyone. Read the following paragraph to see what we mean.

Ethereum Blockchain Explorer

Ethereum Blockchain Explorer

Cryptocurrency advantages | universal value

What is unique to cryptocurrencies when compared to “real currencies” is the fact that their value is universal, i.e. it remains the same no matter which country you’re in. Add to that the fact that the transaction costs are very low or even non-existent, and you have a way in which an investor from, let’s say, South America can make a trade or invest with someone in Asia, all in a matter of minutes. This is because everything is done on peer-to-peer networks which have no central institution in charge of everything. Instead, the whole network participates in managing these networks, making this whole industry one giant cooperation project.

Cryptocurrency advantages | conclusion

As you can see, cryptocurrency advantages are quite big: you are safer, the whole process is more transparent, their value is the same anywhere in the world and they are extremely simple to execute. Add to that the fact that bitcoin is going through an explosion these days and that this type of trading is becoming increasingly popular, and you have a gold mine just waiting to be exploited. We are here to help you with all your investment endeavors, so choose the exchange or a broker you want to trade with from our website if you want to be sure you’re trading with the best. We will always be there for you. Good luck!

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Author: Ben Prescott

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