Cryptocurrency benefits

Cryptocurrency benefits

 

Bitcoin is one of the existing virtual currencies, but also the largest and safest (in terms of transaction volume). In any case, it is a decentralized and intangible currency, that is, it does not exist physically and does not depend on any institution. Who then exercises control? Own customers and programmers.

There are no intermediaries, transactions are direct between users. Each of them manages their bitcoins in a virtual wallet, and when they make a transaction, it is recorded in a public database: the blockchain.

 

But in addition, some of the users are responsible for verifying the transactions, to record them in the account book and to make sure the network works: it is the miners, programmers who take care of security in exchange for bitcoins.

 

It is a global currency, and any user is free to send any payment in any part of the world instantly. In addition, the commissions are low (no intermediary being necessary), the use of open source guarantees transparency, and because of its decentralization nobody can modify the system as it sees fit.

In addition, for companies, the use of this type of cryptocurrency gives much visibility, since it is placed on specialized sites that stand out worldwide, reaching new customers.

 

Similarly, these currencies are useful for companies operating in different countries, since with a single platform for payment and exchange of virtual currencies, they can reach any market.

 

To conclude in a few points:

 

  • It is a free currency that does not depend on central banks.
  • It is designed for the internet, which creates an alternative to traditional payment systems. It increases the accessibility of online commerce.
  • Anonymity but visibility of transactions and security of transactions.
  • No counterfeiting possible.
  • Fast money transfer (a few minutes), compared to bank transfers that can take a few days.
  • Transfer fees that are almost zero or at least lower than traditional banks and money transfer companies such as Paypal, Western Union, etc.
  • Money transfer possible worldwide without any restrictions.
  • No ceiling and transfer limit.
  • No bank or custodian intermediary. The money is directly brought to the destination address.
  • Irreversibility of transactions, the receiver of the currency can not suffer cancellation.