In case you’re wondering, cryptocurrency is a form of digital currency. Cryptocurrency transactions are safe and secure, as they cannot be counterfeited or reversed by the sender. As what Trade Wise mentioned, this provides a new level of security to transactions that could not exist before blockchain technology was developed.
Are you still unsure about investing in cryptocurrency? Check out these top benefits before making your decision:
1) Decentralized: One of the best aspects of cryptocurrencies is that they are decentralized — this means they can’t be controlled or manipulated by governments or corporations.
2) Anonymous: When you use cryptocurrencies, your details are hidden from prying eyes, which enhances privacy and anonymity. Your transactions are also encrypted, so there’s no way anyone can tell what you’re spending on.
3) Transparency: Transactions on the blockchain are transparent and secure, making cryptocurrency transactions free of fraud or theft.
4) Efficient: Because all information is public but private at the same time, cryptocurrencies are very efficient in terms of speed and cost. Fees for sending crypto amounts range from less than a penny to tens of cents depending on the currency and network congestion. And because there are no intermediary banks or clearing houses involved with crypto transfers, they happen almost instantly.
5) Freedom: When you use cryptocurrencies, your transactions are free from government interference and meddling banks. You are in control of your assets, instead of someone else.
6) Global: Cryptocurrencies have no borders — thus, transactions can happen across distances and jurisdictions without issues. This makes it an attractive choice for business owners and traders who need to operate globally.
7) Stable: Cryptocurrencies may be affected by external factors, but the value is generally stable because blockchain technology ensures that there is a limited supply of coins available for trading.
8) Accepted: Many people now accept cryptocurrencies as a form of payment. You can buy goods and services with digital coins on many eCommerce websites such as Amazon and Overstock, while some brick-and-mortar stores are also jumping on the bandwagon. It is estimated that hundreds of thousands of merchants will begin accepting cryptocurrency payments within the next few years.
9) Liquidity: Because there are significant numbers of traders looking to invest in digital coins, converting your cryptocurrency into fiat currency is easy — which makes it more attractive than other investment options.
10) Low risk: Unlike other forms of investment, investing in digital coins doesn’t involve risk. Because you don’t have to worry about the price dropping over time, it reduces the risk of losing money. You can also store your assets online or offline without exposing them to the possibility of hackers.
11) Growing value: The value of cryptocurrencies is constantly growing and they are expected to continue becoming more valuable. Blockchain technology has potential in a broad range of industries and applications. This means that the price will continue rising, making cryptocurrency investments more attractive.
12) Value retention: Because cryptocurrencies are decentralized and subjectivity is not a factor in their usage, they retain their value better than fiat currencies (such as Euros or Dollars).
In conclusion, investing in cryptocurrency is a good idea. It has many benefits and is not as risky as people believe it. Some of the risk are listed on this page.