Friday, 27 October 2017

Unbelievable Benefits Of Using Cryptocurrency

Cryptocurrency is nothing but a medium of exchange, and it is a method of secured transaction. It helps to control the creation of additional currencies. It can also be called as digital money where the transaction is secured due to the principles of cryptography. There are various types of cryptocurrency available in the recent years. Of which Bitcoin is the most popular type of Cryptocurrency which was introduced several years before. You can get to know more about Cryptocurrency from Teeka Tiwari who manages an investing firm. You can get to know about the latest news on Cryptocurrency on the site www.cnbc.com.
The article below details the various benefits of using Cryptocurrency.
Offers Better Security
The Cryptocurrency transactions are digital, and hence it is completely different from the credit card payments you perform. The transaction cannot be counterfeited or result in chargeback. Cryptocurrency is the safest mechanism of the transaction as on date.
No Broker Fees
When purchasing a real estate property, you would require the help of a middleman say a broker or lawyer who helps in completing the transaction. But these people can make the deal more expensive. Using cryptocurrency there is no need for middleman for purchasing a property. You need not pay any brokerage fee.
Avoids Theft
When using credit cards, you give full access to the card to the merchant. The credit card works on the principle of pull where the required amount is pulled from your account. But you can see that cryptocurrency makes use of push mechanism to initiate your payment. Thus you can send the exact amount to the merchant without sharing other information. This avoids the various thefts that occur due to the use of different types of transaction.
Accepted Globally
A cryptocurrency transaction is accepted and acknowledged all over the world. You can use this type of currency internationally without facing any issues. You could also see that cryptocurrency does not involve any exchange rates or transaction charges. This makes cryptocurrency accepted worldwide. It also offers fast and secure global transactions.
Cash System Owned By You
It is an electronic or digital cash system which is solely owned by you. Your account cannot be held by anyone else. Various other traditional cash systems like banks, credit unions, take complete control of your accounts. E.g., PayPal can block your account if it finds any misuse of your account. It can also charge you money for not abiding the terms and conditions. This cannot be done in the case of cryptocurrency as you're the owner of your account and no one can make use of it in any situation. There is no interference of the third party, and only you can deal with your account.
Access To All
As the cryptocurrency is available globally and is accepted by all the countries around it can be accessed by everyone. This cash system can be accessed by everyone who has access to the Internet. It is seen that a majority of people are making using of the cryptocurrency cash system.

Thus cryptocurrency is used to gain an ultimate control of your money. The above are the various benefits of using cryptocurrency.

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