Unless you have been living under a rock, chances are you know what cryptocurrency is. But for those who may not know, cryptocurrency is essentially the future of your finances. It’s what some people call “digital money” and may be a way to solve all of your financial problems. This type of money is held in a digital wallet and can be used to make purchases just like you would with regular money.
Because it’s anonymous, it allows people more freedom to do what they want with their money. Not to mention, it also keeps it safer than it would be in a traditional bank. There are also several other benefits, such as the fact that you don’t have to pay any international fees when purchasing things overseas, or having to pay a middleman during other transactions.
There are many ways in which cryptocurrency could work, and it all starts with Bitcoin. People buy Bitcoin because they know that it may be the only way to purchase goods in the future.
1. It Allows People to Control Their Own Money
Although you may have earned your money fair and square, the government may still have ways of taking it. For example, if you die without a will or without owning a business for your funds to go to, the government has the ability to take your money. But with cryptocurrency, your money is kept safe, even after you die. Not to mention, your relatives won’t be left fighting over who gets to keep what.
2. Money Printing Will No Longer Be an Issue
Believe it or not, countries have the ability to print more money as a way to get out of debt or a financial struggle. However, the problem with this is that in doing so, the current value of said money goes down. As a result, people are left unable to buy even basic necessities because of the fact that prices have increased significantly.
With cryptocurrency, countries wouldn’t have access to this and money could be regulated.
3. You Won’t Need to Pay Unnecessary Fees
It’s a known fact that every time you pay for just about anything, there’s always someone in the middle who is taking a cut of it. This means you’re paying more than you should for something that shouldn’t cost that much. With cryptocurrency, this wouldn’t be the case, and it’s no wonder people want to buy Bitcoin. After all, why should you be paying someone else if they have nothing to do with the transaction you’re making?
4. Getting Rid of Banks
Unfortunately, not everyone has access to banks. Because of this, people are left to rely on themselves or others to manage their money, which can end in disaster. With cryptocurrency such as Bitcoin, there would be no reason for banks to even exist. All you have to do is have your own cryptocurrency wallet to hold your earnings. You won’t have to rely on hiding your hard-earned cash under your mattress anymore.
5. Say Goodbye to Corruption
When people are allowed to manage their own money, it means there is less chance of corruption by the government. The main purpose is to make sure everyone has evenly distributed power, and it isn’t just given to one person. This could make for a much more peaceful world. Without cash to hoard, government officials won’t have the temptation to become corrupt.
6. Faster and Easier Payments
When you pay someone electronically, you usually have to wait a few days before the payment goes through. If not, you risk having to pay a fee to get your money right away. With cryptocurrency and bitcoin however, you can get your money right away without having to pay any crazy fees or having to wait a few days to get it.
It takes just a few minutes to get started with bitcoin, all you need to do to begin is get a bitcoin wallet. Once you’ve done that, you’re ready to start spending until your heart’s content!
You can also pay someone else through bitcoin after a night out together or a shared cab ride. All you have to do is get their email address or scan their QR code and you can send them money right away. It is as easy as that.
7. No Risk of Fraud
These days, it’s pretty simple to get someone’s credit card information. Not to mention there are thousands of scammers on the internet lurking around and waiting for a chance to steal your identity.
But with bitcoin, you don’t have to share any personal information. It just simply isn’t necessary. You can pay with bitcoins without even having to divulge your name.
Even if a hacker does try to gain access to your accounts, they simply won’t be able to steal your bitcoin. This is all thanks to the blockchain technology that supports it, not to mention that bitcoin is constantly being monitored.
Even if somehow someone managed to get past all of those security tactics put in place, they’d have a hard time spending the bitcoin before getting caught. And because everything is digital, it can be easily tracked. So rest assured, your bitcoin is safe.
In Conclusion
There is no doubt about it. Cryptocurrency is not only the way of the future, it’s also what’s best for future generations. Anyone who buys Bitcoin now would be smart to do so, especially since its value will only continue going up.
Many people have said that because cryptocurrency is anonymous, it isn’t safe. However, this simply isn’t true. Being anonymous and being the only person who knows where your money is, makes it more beneficial to you than you know, especially for people living in places where the government may be corrupt.
Bitcoin is mined through a computer system and is therefore not controlled by a government. This means you have free reign with your money. Who wouldn’t want that?