By In past decade, people have been talking much about crypt currencies. Primarily, this business seems scary however people begin to trust in this phenomena. You have heard of Bit coins or Ether. Both of them are crypt currencies and they uses Block chain technology to offer maximum security possible. At present these currencies can be seen in many types. Let us see more about it.
1 – How Crypt currency is Helpful?
When it is about fraud, this currency can’t be faked as it is in digital format and cannot be counterfeited or reversed unlike credit cards.
2 – Immediate settlements
Purchasing real estate involves 3rd parties, like attorneys, lawyers and lawyers. Therefore delays may happen and extra fees is required. In contrast, Bit coins contracts are meant and imposed to include/exclude intermediaries to offer quick transactions and instant settlements.
3 – Low Fee
Generally, there’s no fee when you need crypto currency exchange in form of bit coin or ether or any other type. To verify transaction, there are minors who are paid by crypto currency exchanges. Although there’s no transaction fee, most if not all sellers and buyers employ third parties for example Coin base to create and maintain their wallets. You may or may not know, they function just like PayPal or 2 Check out which offers web-based crypto currency exchange system.
4 – Identifying theft
Your merchant gets full credit line when you give them your credit card. This’s true if transaction amount is too small. Basically, what happens is that the credit cards works on Pull system where online stores pulls needed amount from account linked with the credit cards. In contrast, digital currencies features push mechanism where account holder sends amount needed without additional information. Therefore, don’t worry about chances of theft.
5 – Open access
As statistics show, there are up to 2.2 billion of users of World Wide Web, however not all of them have entrance to conventional exchange. Therefore, they can use this new way to pay.
6 – Decentralization
If we talk about decentralization, international system known as Block chain technology manages crypto currency database. We can also say that, crypt currency is under administration of network, and no central authority own it. It works on peer-to-peer approach.
World Wide Recognition
As crypto currency isn’t based on normal exchange rates or interest rates and transaction charges, you can use these crypto currencies internationally without any problem. Therefore you can save lots of energy, money as well as time. We can also say that cryptocurrency exchange is recognized across the globe and you can easily count on these digital coins.
Year 2017 was the year of cryptocurrencies. From Bitcoin to Ethereum, zcash to Litecoin and any other type of cryptocurrency jumped from few 100 or 1000s of dollars of value and broke the record crossing up to 20,000 mark. Ether or Ethereum is found to be higher than ever and so is true for Zcash and Litecoin. These new digital currencies are popping up daily and public is interested to buy them in frenzy. Therefore are these programming codes real money or just another fad which will die with time, let us check this out!
Ever sent money to anyone by using banking channels? Every banks comes up with its own protocols and standards, however all have a thing common, they charge a lot for it. Indeed, you may say that bank gives you few fee per month, however it apply other limitations where you are pushed to pay for certain harsh services.
With cryptocurrencies like Etehreum, Bitcoin, Zcash and Litecoins, you still need to pay for transferring from, however, charges that you have to pay are much lower as compared to what conventional banking demands.
1 –TIME SAVING
Sending money through cryptocurrency channel to a person who is living anywhere in the world is as easy as sending an email. Only ask the address of the receiver, log in to your wallet and send desired amount to him or her. You can then go around doing anything you do every day and your money will going to be transferred.
2 –UNIVERSAL CURRENCY
Fine, so this title is a bit misleading. There are hundreds of cryptocurrencies out there, therefore you and your receiver may not have similar type of currency in wallet. If receiver is flexibile or you can convince him or her, they can set up electronic wallet in a couple of minutes.
Most widely used currency are Bitcoin and Ethereum and if you have them, you will never face any type of issue of several currency acceptance.
3 –INVESTING IN CRYPTOCURRENCY
When there is a financial crises all over the world and rate of inflation is rising in fast pace, you will one day find that all the dollars or euros you saved do not have much of the buying power. Wisdom is to invest them in anything which will never depreciate with time. Enter into the world of Cryptocurrency! Because of the way they are programmed, from Zcash to Litecoin, Bitcoin to Ethereum they are extremely limited in circulation, unlike the paper currency which is available just on a press of printing machine.
