There are a number of different properties and characteristics that make digital money appealing. At its core, digital currency aligns well with modern financial trends, as paper money and coins are on the verge of becoming obsolete. Society as a whole has already made moves toward adopting and embracing digital money. But cryptocurrency is unique and many have called it the money of the future.
What Are the Benefits of Digital Cryptocurrency?
Cryptocurrency has some very unique attributes that make it even more appealing than traditional currencies. Consider the following.
• Cryptocurrency is totally decentralized. There is no central server or central agency/government involved with digital currencies such as Bitcoin. These currencies are mined, controlled and used by the people, which is very empowering. The decentralization is also very robust from a cybersecurity perspective, as there is a high degree of redundancy and it’s far harder to corrupt multiple servers (versus just one central server.) Plus, cryptocurrencies such as Bitcoin use a public key cryptography system that has been described as being more secure than Fort Knox!
• Cryptocurrency is completely anonymous. Unlike traditional currency, where money is tied to your name, cryptocurrency is fully anonymous. Instead of being tied to a bank account number, a name or a social security number, cryptocurrency is exchanged using pseudonyms which protect your real world identity. This is ideal for those who prefer to keep their financial and spending information private.
• All cryptocurrency transactions are final. Nobody — absolutely nobody — can reverse a confirmed transaction. Of course, this means that you’ll need to be cautious and avoid scams. But this also reduces the amount of victimization that can occur when an individual receives a product or service and then demands a reversal through their bank or credit card company. This is particularly common with digital products, so the irreversible nature of cryptocurrency transaction is quite favorable amongst retailers.
• Cryptocurrency transactions are confirmed in minutes. Even with all today’s modern technology, it’s common for traditional currency transactions to take hours or days to be fully processed. The timeframe tends to be longer when dealing with international transactions. But with cryptocurrency, those transactions are performed and finalized in a matter of minutes, which is great news for those who conduct international business.
• There is tremendous potential for investing in cryptocurrency. Investing is possible due to the ever-rising value of Bitcoin and other cryptocoins. When Bitcoin was unveiled in late 2008, the value was around $.10 USD each. Today, in mid-2017 — less than a decade later — the Bitcoin value is over $2,000 USD!
The benefits of cryptocurrency are undeniable. And while BitCoin is perhaps the best well-known type of cryptocurrency, there are also a number of other digital currencies that have emerged in recent years. This includes OneCoin and JetCoin and LiteCoin.
If you’re interested in getting involved with investing in cryptocurrency, then CryptoCoin Digital Solutions is here to help. Our goal is to seek out some of the best digital currency investing opportunities worldwide. If you have any questions about getting started with cryptocurrency investing, contact us to learn more!