ADVANTAGES OF CRYPTOCURRENCY

[mkashif007 0]

Since the inception of crypto currencies, many has given their points of view in favor and in against the use of these currencies. It is regarded as a financial means of trading between the partners to reduce time, cost and enhance security and secrecy of a transaction. Few regard it as a means to support ransom ware activities, terrorism and many illegal
transaction as there is no third party involvement and there is no data available for the others to have a look at.

Here we are going to know about the advantages of crypto currency:

Transactions
One of the primary advantage of crypto currency is that only participants are involved in this transactions no other third party I involved and thus cutting down the external
authority control over the approvals and transactions. In short it cuts down the long chain of middle men involved in the transactions. This helps in establishing a clear record of
audit trails, Rear confusion between the payer and payee, and higher accountability between the transacting parties.

Asset Transfers
Crypto currency reduces the channels involved thus, making the ultimate owner a legitimate person to transfer the assets without taking the approval from anybody else
which enhances the transaction process and reduces the time, cost involved in the transaction and making it to reach the specified person on specified time.

More Confidential Transactions
As crypto currency involves no other third authority so it also minimizes the load of having multiple database of the parties and thus maintains the secrecy of the account holder, which is not possible in case of bank /cash/card payments. Where one has to release all the cheques or other accounting details to the bank for making a transaction.

Transaction Fees
Transaction fee is not applied in ccryptocurrency transfer. Generally the number crunching companies which generate the BITCOINS do not apply any fee for transacting and money.

Greater Access to Credit

Today everyone has the excess to the digital world and many companies are providing easy access to the Digital data transfer .with the help of .internet .facilitating the exchange in crypto currencies. Making it easier for anyone to become a potential buyer or seller for crypto currency using these websites. and portals..

Easier International Trade
Cryptocurrecy are regarded as the unrecognized means of legal tender on national levels at present, crypto currencies by their very nature do not involve the exchange  rates,Interset rates, transaction fee, levied by the specific country..

Individual Ownership
The most important advantage of crypto currency is that unless you give the authority to the third person you remain the sole Owner of your Wallet for holding the private and public keys that make up the owners networks identity or address.

Adaptability
There are currently over 1200 unique crypto currencies in circulation worldwide. Many are quite ephemeral, but a significant proportion has been generated for the specific use  that describe the flexibility of the crypto currency phenomenon.

Strong Security
Since the Crypto currency has two keys which are operated by the owner thus ig t ensures higher security.

[Rg123 318]

The advantage of cryptocurrency first its taxless because this is decentralize and the tax is only for the government and lastly it is convenient because you dont need to come to the person who will you getting paid, you can transact online.

[Thekingcallme 1975]

It has great features and this makes a lot of use and trading
For ease of use and speed of transactions

[izDazma 42]

4 hours ago, Rg123 said:

The advantage of cryptocurrency first its taxless because this is decentralize and the tax is only for the government and lastly it is convenient because you dont need to come to the person who will you getting paid, you can transact online.

Plus it is secure.

[Great Commander 659]

Yes. This clearly shows the vast advantages of your system being decentralized. Blickchain system is doing a great job regulating each transactions and continue to improve it. The way crypto is more secure when storing it in a physical device is the best advantage of cryptocurrencies for me as you're sure your coins is safe. 

[nenni 96]

The advantage of cryptocurrency is to give the maximum opportunity for everyone to get a bigger income and even get a chance to become rich

[Bitxalt 452]

This is very informative, for beginners who study crypt currencies, must reading this article, there are so many benefits that we can get from the existence of cryptocurrencies, besides that cryptocurrencies are also easy to use by anyone.

[Deborah Christine 410]

The advantage of cryptocurrency is that we can transact more easily and quickly with low costs. Besides crypto also promises profits because of rising prices in the future.

[aika 286]

5 hours ago, mkashif007 said:

Easier International Trade
Cryptocurrecy are regarded as the unrecognized means of legal tender on national levels at present, crypto currencies by their very nature do not involve the exchange  rates,Interset rates, transaction fee, levied by the specific country..

This is what I like the most about crypto. People from everywhere is trusting on the blockchain technology, and so are major economic entities, and it allows to a more open commercial market.

I also like their volatile nature, it permits some degree of speculation and that means profitability for small traders like me.

[andrehol 16294]

Security. This is perhaps the main thing. independence from banks. So you do not care about government and banking crises. The safety of your money is up to you.

[howudewin 41]

I like the fact that I can remain anonymous but that is starting to go away more and more as websites and platforms are now demanding KYC. I think any website or exchange should have to tell you that you need to do a KYC before you send them any BTC but a lot of them don't.

[Kimmy So 176]

oh my gahd... this is a very informative and without a doubt insightful topic... it is undoubtedly beneficial to us, newbies or beginners, to read and be informed... you are so considerate thank you so much fir posting this... you just widely discussed about the information on the advantages of crypto that serves learning to us... and again thank you for that!

[wingfield 137]

 

The crypto market offers many advantages, and the most important is the time consumed to complete the transaction. Crypto transactions are very fast and the commissions are quite small.

[wingfield 137]

7 minutes ago, madoras said:

thats a good from crypto we can transfer money worldwide but only take a small fee transaction .if we use wire transfer from bank they will charge up to 40 $

In the future, banks will no longer be a profit point for anyone. The more people hear about crypto, the lower their interest in banking transactions. People are still skeptical about crypto, but with little promotion for cryptocurrency, banks will be history.

[lilykool 53]

23 hours ago, Thekingcallme said:

It has great features and this makes a lot of use and trading
For ease of use and speed of transactions

Yes you can send coins too fast almost for nothing.They charge a little bit fees if you compare to banks.I hope we could use them in the future more 

[on1k3n 470]

There are so many benefits to crypto like the fact you can track the money. The only bad thing is when you track it to a person for ripping you off, you can't do anything about it LOL.

 

There isn't anybody that you can call to get it back. Another plus to crypto is the fact it doesn't take up space. Everything is digital, so there's no need to store money, gold, or any other currency.

 

Lastly, the best thing is you can be independent from the Government. You control your own finances, and you're not waiting for a hand out. 

[Naylor89 1223]

It's too early for that answer. Crypto just isn't ready yet. I don't think people realize how early on we are. but for me, high volatility and price fluctuation are the big advantages of Crypto, and i made a lot of money from it.

[Sumayya 493]

Cryptocurrency has so many advantages, which cannot be counted. It aid in so many places, that is why it is been loved by many investor's

[ibtismanipun 120]

It has advantages and that's correct. But you should keep a fact in mind that it has some disadvantages too.

[scorpiali 5626]

Sorry sir when you said security in Crypto really there in no real security every where you a scammer and hacker even in some secure exchange you are not in safe. Other thing when you said low fee it's not like that Bitcoin is the higher fee in all Crypto 

[Akbor 1042]

As all the process in crypto market  is decentralized so it is very easy for all the members who want to join in the market. anyone can buy any cryptocurrency from any where of the country. holding crypto don't need to pay any taxes and can use the coin any time for multiple task which is needed in our daily life.

[Gusion 321]

Do not forget that it involves having disadvantage too. We better get responsible for our actions in order to maintain the advantages. 

[Cryptominded 704]

On 10/30/2019 at 5:35 PM, leon said:

yes there have many advantage of crypto currency. i like most of them. from them top reason is it's taxless. it's fast and easy to make payment. it has strong security.

Can Bitcoin be really said to be taxfree given that it is taxable in some jurisdictions? I think what to say is that Bitcoin is borderless but some countries would tax you for spending it and for gains made from it. What I think is the major advantage of Bitcoin is that it provides a payment network that bypasses a third party.

[FaithJoy06 170]

On 10/30/2019 at 4:20 PM, mkashif007 said:

Since the inception of crypto currencies, many has given their points of view in favor and in against the use of these currencies. It is regarded as a financial means of trading between the partners to reduce time, cost and enhance security and secrecy of a transaction. Few regard it as a means to support ransom ware activities, terrorism and many illegal
transaction as there is no third party involvement and there is no data available for the others to have a look at.

Here we are going to know about the advantages of crypto currency:

Transactions
One of the primary advantage of crypto currency is that only participants are involved in this transactions no other third party I involved and thus cutting down the external
authority control over the approvals and transactions. In short it cuts down the long chain of middle men involved in the transactions. This helps in establishing a clear record of
audit trails, Rear confusion between the payer and payee, and higher accountability between the transacting parties.

Asset Transfers
Crypto currency reduces the channels involved thus, making the ultimate owner a legitimate person to transfer the assets without taking the approval from anybody else
which enhances the transaction process and reduces the time, cost involved in the transaction and making it to reach the specified person on specified time.

More Confidential Transactions
As crypto currency involves no other third authority so it also minimizes the load of having multiple database of the parties and thus maintains the secrecy of the account holder, which is not possible in case of bank /cash/card payments. Where one has to release all the cheques or other accounting details to the bank for making a transaction.

Transaction Fees
Transaction fee is not applied in ccryptocurrency transfer. Generally the number crunching companies which generate the BITCOINS do not apply any fee for transacting and money.

Greater Access to Credit

Today everyone has the excess to the digital world and many companies are providing easy access to the Digital data transfer .with the help of .internet .facilitating the exchange in crypto currencies. Making it easier for anyone to become a potential buyer or seller for crypto currency using these websites. and portals..

Easier International Trade
Cryptocurrecy are regarded as the unrecognized means of legal tender on national levels at present, crypto currencies by their very nature do not involve the exchange  rates,Interset rates, transaction fee, levied by the specific country..

Individual Ownership
The most important advantage of crypto currency is that unless you give the authority to the third person you remain the sole Owner of your Wallet for holding the private and public keys that make up the owners networks identity or address.

Adaptability
There are currently over 1200 unique crypto currencies in circulation worldwide. Many are quite ephemeral, but a significant proportion has been generated for the specific use  that describe the flexibility of the crypto currency phenomenon.

Strong Security
Since the Crypto currency has two keys which are operated by the owner thus ig t ensures higher security.

Bitcoin has so many advantages. In bitcoin someone can gain and earn so much money. Someone can make their time and effort productive. Someone can be very productive and effective in their time and effort. They will be able to enjoy their time with their family while gaining and earning so much money.

[Raven 7817]

One of the advantages of crypto currencies are it is taxes free, you don't need to pay for your tax not just like in the government. Also the transaction fees it is more less than the feed on other banks. Just like that. Crypto currencies are very convenient to use.