What are the Advantages of Cryptocurrency?
Over the last couple of years, cryptocurrencies gain more and more popularity. Let’s touch upon some of their main advantages in comparison to fiat money.
1. It is decentralized and does not rely on banks or governments. Transactions can take place in different parts of the world and take seconds, without the need to pay hefty charges to banks.
2. Because cryptocurrency is decentralized, it’s immune to deflation or inflation that can happen as a result of the choices of a central government.
3. Anonymity is one of the most important perks of cryptocurreny. You do not need to reveal your identity.
4. Anybody can make money through the process of mining. All what’s needed is access to a computer and the internet.
5. Because the cryptocurrency market is highly volatile it can be a high reward (but at the same time, high risk) investment.
6. Cryptocurrency is not subject to inflation. With coins like bitcoin there is a set amount that will ever be created.
7. And last but not least, since cryptocurrency exists in digital form, millions of trees can be saved by not using paper currencies. It can contribute to our environmental well-being.
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