The decentralized digital currency has been around since 2009, and it’s still going strong in 2018 with no signs of slowing down. There are many reasons why people like to use it, and most of these reasons center around the security and anonymity that the cryptocurrency provides its users with, making it safe and secure to use at any time. For your next trip to Las Vegas or if you’re planning on attending an upcoming music festival, be sure to pay with the digital currency so you can benefit from all the great things it has to offer!
1) Not controlled by any central authority
Cryptocurrencies are not controlled by any central authority, so they cannot be inflated away by a government. In fact, it is best to see them as being controlled by their respective communities. Having said that, it’s possible for a government to ban a cryptocurrency or at least restrict its use in some way. This can happen if a country feels threatened by a certain technology and decides that banning it is going to keep them from being taken over by an invading army, for example. If you’re going to start with one type of digital currency, don’t just go with something mainstream like Bitcoin; instead, pick something more niche and unique like Dogecoin or Worldcoin.
2) Fast peer-to-peer transactions
There are a few ways that a digital currency can facilitate peer-to-peer transactions. If your payment network is peer-to-peer, it doesn’t go through a centralized bank to get from Point A to Point B. In fact, you don’t have to go through any financial institution at all—the transaction happens between individuals and requires only an internet connection. Many cryptocurrency payment networks operate in a decentralized manner, allowing customers greater control over their money while also eliminating third parties. It’s revolutionary because it takes power away from banks and financial institutions and puts it directly into customers’ hands.
3) Low transaction fees
censorship resistance, anonymity, ability to transfer money without intermediaries, low fees for sending transactions between users. Additionally there are rewards built into each cryptocurrency that are paid for processing transactions. These are referred to as mining. Mining creates new currency at a decreasing rate. The network is designed so that every time it issues more currency, it gets harder to mine future amounts; however, miners’ computing power increases over time, allowing them to mine profitably in spite of these difficulties. See also: Ripple (payment protocol), Peercoin (peer-to-peer cryptocurrency), Litecoin (another crypto currency), Namecoin (distributed domain name service).
4) A variety of features built into the system.
Fast Payments with Low Fees. There are no fees for receiving payments or spending your money. No third party involved in transaction and no censorship, fraud prevention and control over your funds; you can always access and use your money, transact directly person-to-person anywhere in the world and send value (money) instantly to anyone. Online Privacy: You can make anonymous transactions without revealing any personal information. We do not store user IP addresses after a session has closed. This protects our users from potential threats like DoS attacks, identity theft, spyware, viruses and malware. By not storing IP addresses we also protect users from tracking by governments or other malicious third parties such as hackers or advertisers that may try to correlate IP addresses with identities which is unsafe for consumers and businesses alike.
