Crypto-currency has been there for more than a decade now. Slowly and steadily it has become the major source of investment for many people. Given to the volatile nature of cryptocurrency, it has also lead to making many people millionaire. However, despite so many benefits, cryptocurrency is often criticized for mostly being used in illogical activities like the dark site of USA “The silk road”.
On the other side the value of Bitcoin is continuously on rise which has lead to positive vibes around the crypto-trading and digital marketing. Many beginners are still confused not knowing whether it is beneficial to invest in Bitcoin. So, worry not as you are in the right place.
In this article, I will clear all your doubts and will explain briefly all the advantages of crypto-currency as a financial medium:
One of the greatest benefits of crypto-trading is no middle man. It is beneficial for traders and brokers as it automatically cuts out the extra charge of the third party who takes it’s own share of fee for smooth transaction without any kind of confusion. However, when you are dealing with crypto-currency you do not have to face any such situation as crypto-currency is an independent currency that cuts out any third party interference leading direct smooth transaction without any confusion.
- Less transaction fees
While doing any kind of international transaction, the banks charge a huge amount of fees, while same is not the case without Bitcoin or any other cryptocurrency as they receive their compensation from the cryptocurrency network involved. It means we easily escape any kind of extra charges.
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- Confidential transactions are now easy
While paying with cash or credit cards, a complete detail about your account is asked for. For many transactions even a through checking of your account and details are asked for which effects your privacy. However, with cryptocurrency it is not the same. Infact cryptocurrency was designed to keep the anonymity secure of every user. The cryptocurrency works on the procedure of blockchain. Though each and every transaction history is stored in blockchain and every time you make a transaction, your account address is changed into a new one.
- Full ownership
Unlike government backed paper currency, cryptocurrency is not controlled by any third party like government or banks. You don’t have to rely on banks for making transactions and storing your money. Infact you can keep cryptocurrency is very much independent any does not require any medium or third party in between for handling their transaction. Apart from that you even don’t need to pay taxes to government no matter how much you earn in crypto-currency trading. It means that your hard earned Bitcoin is totally yours and no third party can claim ownership over it.
There are so many crypto-currencies available in market as of now. Many are there for trading and others are there for specific case use. For example if you want more of anonymity that can help you hide your identity even in Blockchain, then “Privacy coins” is the answer for you. Yes, you heard it right. There are so many coins and you can choose the one according to your taste and likings.
- No charging-back
Ok, this may be one of the favorite features of traders and no doubt why they love crypto-trading. There is no charging back once you have made the transaction. Let me tell you that it is a hedge against fraud that requires specific agreements in case of return policy.