Although cryptocurrency has been around for several years now, it has only recently become so mainstream. It seems like everywhere you look someone is talking about crypto. Bitcoin is the most commonly known form of cryptocurrency, although dozens of other types of crypto exist. Cryptocurrency and how to buy Bitcoin are hot topics these days as more and more people are starting to realize the benefits of using cryptocurrency. In fact, some believe that cryptocurrency is making the world a better place. Don’t believe us? Keep reading.
- Prevents Fraud
Credit card fraud happens far too often these days, simply because of the fact that it’s easy to get someone’s credit card information. Not to mention more and more people are using credit cards to shop online, making it easy for hackers to access your information in an instant. However, with cryptocurrency fraud is not as easy. This is due to the fact that cryptocurrency is not linked to your bank account nor a credit card. Cryptocurrency is transferred electronically and anonymously so no one will ever be able to access your personal information, even when sending or receiving crypto.
- The Process Is Fast
If you have ever sent money before via a third-party app, you know that it can not only take days to receive the money, but these companies also charge a fee to use their services. With cryptocurrency, however, you don’t have to worry about any of this. Again, because cryptocurrency isn’t attached to a central banking system, transferring money is simple. It doesn’t involve any processing time and, as a result, the transfers happen right away. Best of all, there are no fees or taxes that you have to worry about when transferring crypto.
- Easy to Use
Believe it or not, cryptocurrency isn’t as difficult to understand as people make it out to be. Just because it is digital does not mean that it is rocket science. In fact, just about anyone with basic knowledge of cryptocurrency can teach you how to buy Bitcoin or any other form of cryptocurrency. Cryptocurrency also makes online shopping a whole lot easier—even through retailers that are overseas. All you need to do is get an e-wallet and load up your account with money so that you can start purchasing cryptocurrency. It’s truly as simple as that.
- Transfer Money Safely Overseas
As mentioned previously, there are no fees involved with transferring cryptocurrency internationally. This is not the only benefit that comes with using cryptocurrency internationally, however. With cryptocurrency, you are able to visit other countries without having to carry cash or credit cards, which can be easily stolen. Instead, you can use cryptocurrency to pay for the things that you need. You won’t have to pay for any transaction fees, which means both more money for the vendor and more money back into your pocket to spend elsewhere. All in all, cryptocurrency is ideal when it comes to international shopping.
- Accepted Worldwide
One of the main issues with money is that we often tend to go through periods of inflation, to the point that outrageous exchange rates make traveling that much more expensive. Luckily, cryptocurrency is accepted worldwide and is not subject to the inflation we are used to. This is because of the fact that it isn’t governed anyone, anywhere. It’s safe to say that cryptocurrency will never be subject to exchange and interest rates and will inevitably be able to provide people all over the world with much more stability economically and financially.
- Control Your Own Money
Although they are used worldwide, there are still risks to putting all of your money into a bank account. A bank could go under, an economic crash could happen, and so much more. Unfortunately, this doesn’t really give people much of an option in terms of where to keep their money safe. Cryptocurrency, however, doesn’t run into this problem because again, everything is digital. Another benefit of using cryptocurrency is that it is not subject to the same rules that banks and financial institutions in general impose on people and therefore, you have complete and total control over it.
- It’s an Investment
When cryptocurrency first came out, it was not worth much. Now, crypto such as Bitcoin is worth thousands of times more than what it was worth back then. In the future, it’s safe to say that cryptocurrency will be worth much more than it is today, for a variety of reasons. Crypto such as Bitcoin is not infinite and once it runs out, people will be willing to pay just about anything to get their hands on it. Buying crypto now is essentially making a highly profitable investment for the future.
I’m a leading crypto author with over 10 years experience in the industry. I have been featured in numerous publications and am a regular speaker at major crypto events. I’m also the founder of Crypto Academy, which is dedicated to providing education on all things crypto.