Recently revealed reports show that some of the richest figures are heavily investing in cryptocurrency. These include names like Richard Branson and Li Ka Shing. While the success depends on a number of aspects, it is hard to deny that cryptocurrency has rapidly become a popular form of currency all around the world. Many analysts say that cryptocurrency has many advantages over traditional currency forms like the US Dollar. Still not sure of the benefits associated with cryptocurrency? Keep reading and you are bound to change your mind.
Less Risk Of Inflation
Any currency around is always managed by the government of the country that the currency belongs to. Some countries print too many which inevitably brings down the value of the currency which in turn reduces the purchasing power. When it comes to cryptocurrency, the framework it is based on is never ending so there is no concern about a shortage of currency.
The Transaction Fees Are Generally Lower Or Nonexistent
Generally, there are no transaction fees involved when transactions take place using currencies like Bitcoin. This is because the makers are reimbursed by their network. While there is no surcharge, if people do use other online cryptocurrency wallets, those services can charge a fee. They work like PayPal does for normal currency allowing you to buy anything you want online, be it a recording pen or hidden cameras, should the seller accept cryptocurrency.
No Risk Of Identity Theft
Using credit cards leave you vulnerable to a range of identity theft attacks. This is because cards behave on a “pull” process where the store or other person starts the transaction. However, cryptocurrencies behave on a “push” process which allows the user to start the transaction and send the exact amount without divulging any more information.
Easily Accessible To Anyone
You can find over two billion people making use of the internet and smartphones regularly and cryptocurrency is a form of currency open to all of them. This makes it quite easy for anyone from any part of the country to sign up and open a cryptocurrency account. As accessible it is, cryptocurrency is also untraceable. This means that when a seller gets the money, there is no way for the buyer to take it back. Not even the government can trace it back.
Cryptocurrency Works In A Peer To Peer Basis
A group of computers across the world maintain the cryptocurrency database together. Basically put, it is handled by a complete network not one individual. This user to user process means it can not be manipulated to a person’s interests. The methods in which it works is only now being investigated.
Portability
Before you raise your eyebrows, hear me out. Any physical form of currency is difficult to carry, especially across borders. It is also quite risky as it can be easily stolen and hard to conceal when it is in millions. When it comes to cryptocurrency, that issue is no longer present as you can carry millions worth of cryptocurrency just in your SD card.
Guest article written by: 
Rachel Stinson has always had a knack for writing, food, fashion, and places. Blogging has combined all four for her with an added bonus of enthusiastic audiences. She expertly analyzes real estates, restaurants and camera stores with respect to pricing and people involved and can express her opinions in an unhesitant, engaging manner for all matters.