Cryptoactive people are becoming increasingly popular, some as currencies, others as platforms, but have you ever wondered what the benefits are and why are you increasingly talking about cryptocurrencies and blockchain as solutions to many problems?
To help you, let’s present some benefits!
1- Global and for all
Cryptocurrencies are the same everywhere, Bitcoin in Brazil is the same Bitcoin in the United States for example, and for those who travel a lot it is interesting to think about cryptocurrencies as they will suffer less from the exchange rate when converting currencies, but it is good to keep up with where you use them, not all places accept them yet.
Also because they are global currencies, transfer of values between accounts makes them perfect for these situations, not depending on banks and bureaucracies, all with very low rates.
Anyone with internet access on a variety of devices, whether tablet, computer, notebook, mobile phone, just need to download a wallet and start offering services in exchange for cryptocurrencies. Regardless of nationality, gender, color, age and different from bank access, cryptocurrencies are for everyone.
2- Speed and practicality
Cryptocurrency transactions do not usually take long. For comparative purposes, an international remittance can take up to three business days, while a Bitcoin transaction typically takes 10-20 minutes. But another example, a Nano transaction can be instantaneous, ideal for day to day and small values.
Speaking of small values, one of the practicalities of cryptocurrency is its divisibility, you will never have to worry about having small banknotes or coins. Quickly with a few ringtones, you make a payment for the exact amount of your purchase. That simple.
3- Security, privacy and decentralization
Some people may recall instances where governments along with banks freeze user balances, others such as banks setting daily withdrawal limits, others of banks going bankrupt and hurting multiple customers. For most cryptocurrencies, there is the advantage of being your bank without having to leave values in the custody of others.
In their prime, cryptocurrencies are decentralized without an entity or government that can manipulate and alter them. This way, only the user has access to funds, where transactions are unchanging and transparent, allowing anyone to consult the blockchain record, but of course only if the address is associated with personnel. Those who seek total privacy and anonymity, some coins are private, but also anonymous, such as Monero.
Using its cryptographic technology, coins cannot be falsified or reversed arbitrarily by the sender, as with credit cards, is a model without fraud that using the blockchain avoids double-spending, avoiding headaches for users.
But you may be asking yourself, “How safe are you if I see Bitcoin-related scams and scams all the time?” Yeah, it is a bad image to look at, but to reassure you, all of these scams and scams were performed as a result of human error or the assets being in the custody of others.
Bitcoin’s blockchain has been online for over nine years, and these scams happen because users don’t take proper care of their private keys, the security of their devices, or even trust who they shouldn’t be, in any case, it’s a mistake or bitcoin or blockchain failure.
Most cryptocurrencies have a unit emission limit, Bitcoin, for example, has about 18 million in circulation and only 3 million more that will be generated by the year 2140. Thinking that 86% of units are already in after 21 million units no further units will be generated, unlike fiduciary currencies that are generated daily by inflating products and services.
5- Days and Hours
Saturday, eleven at night, he remembered that he forgot to send the money to his daughter who studies in another city, no problem! Unlike the traditional banking system, which requires business days to operate and many services do not work outside business hours, holidays and weekends. Cryptocurrencies operate continuously regardless of the day and time.
With cryptocurrencies like Ethereum, we can store and create smart contracts on the blockchain, making it easy to store information and search it. Notaries, notary’s offices, real estate registration, for example, may have their days numbered. As well as document and contract validation, they will be easily resolved with blockchain applications, removing multiple intermediaries as it is digital, reliable, unchanging and transparent.
In this universe that has more than hundreds of cryptocurrencies with different purposes and uses, we know that we do not present all the benefits and advantages that they offer us, especially some that are very specific, but we hope you enjoyed, and if you want to contribute, be sure to join our social networks as long as you enjoy the cryptos advantage!