Topic: What are the benefits of Crypto Currency? - page 11. (Read 2225 times)
Crypto allows me to think that I can earn normal money by doing what I like and what I do best. Even crypto gives me hope and dreams of something I couldn’t have dreamed of before. Crypto allows me not to go to work in a stuffy transport and not sit in the office in the heat and cold.
It helps those who want to have freedom from the government. We can take full control of our money without the use of banks. We can earn free money and gain profits.
what are the benefits you get in Crypto? And how those it affect your daily living?
Every time you swipe your credit/debit card there is a transaction fee of 2-4% which may seem little but drastically increases when doing cross border transactions. Bank transaction fees in the global market are estimated to be approximately US$320BN per annum. With cryptocurrencies there could be a total saving of $250BN if they replace their current payment processors like Visa and MasterCard with crypto. To answer your question, I would say its pretty life changing if you're a trader that make large and frequent transactions. You can find out all about it at www.xinfinity.com
what are the benefits you get in Crypto? And how those it affect your daily living?
Very much, the use of transactions with crypto by each store will save tax and time costs. Nowadays digital finance is very convenient and secure, this is a form of development of the times, especially the currency that is very popular for people and traders around the world.
These are the following benefits of Crypto Currency are as follows.
1.Fraud
2.Identity Theft
3.Immediate Settlement
4.Access to Everyone
5.Lower Fees
1.Fraud
2.Identity Theft
3.Immediate Settlement
4.Access to Everyone
5.Lower Fees
what are the benefits you get in Crypto? And how those it affect your daily living?
Currently a trader still focuses on trading in their daily life. Because of their way of thinking just to be able to meet their needs, such as eating etc.
This is because some people do not know the potential of cryptocurrency, perhaps due to a lack of experience in understanding the technology.
what are the benefits you get in Crypto? And how those it affect your daily living?
Well, I see things is that cryptocurrency benefits for me are first it can gives you opportunity to work even of you are a students, house wifes, teenagers, disable person, and etc it can be a source of income. Second, you can work even if you are at home. Yes, you just need a gadgets and internet connection then you are in. And lastly Third, it can gives you convenient, just like when you need to pay online you it just only one click and then its okay.
Better Security
Unlike traditional payments, like cash and credit cards, cryptocurrencies are digital and encrypted; you cannot be ripped off in a transaction like you can be with legacy payment systems, and it is much harder to steal cryptocurrency compared to a wallet full cash. In a world where so many of our transactions are online, and our savings and credit rating are at stake at all times, anything that provides increased transactional security is a plus. And there is currently no transaction mechanism that is currently more safe and secure than those that use cryptocurrency.
Cut Out the Middleman
Another great benefit of using cryptocurrency, especially when purchasing real property, is that digital currency can help eliminate expensive brokers, lawyers, and other typical “middlemen” who inevitably raise the costs of already expensive transactions. Cryptocurrency can essentially act like “a large property rights database”, according to one financial expert, and can be used to execute and enforce two-party contracts on items like real estate and automobiles, thus eliminating expensive brokerage and legal fees.
Access to Everyone in Every Market
As more people, including billions of people in the developing world, increasingly use mobile devices linked to the Internet to conduct financial transactions, cryptocurrency is truly going to come into its own. All cryptocurrency is designed for low cost, no-fee transactions, so undoubtedly these digital currencies will become increasingly popular as more people have access to mobile devices to conduct financial transactions. In the late 1990s and early 2000s, mobile phone technology spread rapidly through the developing world, and saturated markets where standard landline telephones had never been established; cryptocurrency is poised to do the same exact thing.
Universal Recognition
If you do business globally, or travel frequently, you are often exposed to exchange rate risk; that is, the transaction can be affected by currency exchange rates. You may also be subject to fees associated with exchanging one currency for another, or find challenges in exchanging currency altogether. Fortunately, with cryptocurrencies like Bitcoin, that is a non-issue, as the digital currency is universally recognized at a given value. This helps to save time in determining a price for a transaction, as well as any fees associated with exchanging money from one form to another. As cryptocurrency is increasingly adopted around the world, it is going to make financial transactions faster and simpler, which is a great thing for everyone involved.
You Are in the Driver’s Seat
One of the best things about cryptocurrency is that, unlike virtually any other type of money retaining system (save for a wall safe or your wallet) you totally own it. Think about it: most traditional liquid asset systems – banks, credit unions, brokerage houses, or even high tech ones like PayPal – take control of your funds and leave you subject to their terms of service. If they decide that you have violated those terms, they can suspend your account. They can change their terms of service, and cause you to have to pay more or receive fewer funds for important transactions. With cryptocurrency, you retain all of the funds on hand, so to speak, digitally, with no third party involvement; the only one who can change the terms of your cryptocurrency use is YOU.
Unlike traditional payments, like cash and credit cards, cryptocurrencies are digital and encrypted; you cannot be ripped off in a transaction like you can be with legacy payment systems, and it is much harder to steal cryptocurrency compared to a wallet full cash. In a world where so many of our transactions are online, and our savings and credit rating are at stake at all times, anything that provides increased transactional security is a plus. And there is currently no transaction mechanism that is currently more safe and secure than those that use cryptocurrency.
Cut Out the Middleman
Another great benefit of using cryptocurrency, especially when purchasing real property, is that digital currency can help eliminate expensive brokers, lawyers, and other typical “middlemen” who inevitably raise the costs of already expensive transactions. Cryptocurrency can essentially act like “a large property rights database”, according to one financial expert, and can be used to execute and enforce two-party contracts on items like real estate and automobiles, thus eliminating expensive brokerage and legal fees.
Access to Everyone in Every Market
As more people, including billions of people in the developing world, increasingly use mobile devices linked to the Internet to conduct financial transactions, cryptocurrency is truly going to come into its own. All cryptocurrency is designed for low cost, no-fee transactions, so undoubtedly these digital currencies will become increasingly popular as more people have access to mobile devices to conduct financial transactions. In the late 1990s and early 2000s, mobile phone technology spread rapidly through the developing world, and saturated markets where standard landline telephones had never been established; cryptocurrency is poised to do the same exact thing.
Universal Recognition
If you do business globally, or travel frequently, you are often exposed to exchange rate risk; that is, the transaction can be affected by currency exchange rates. You may also be subject to fees associated with exchanging one currency for another, or find challenges in exchanging currency altogether. Fortunately, with cryptocurrencies like Bitcoin, that is a non-issue, as the digital currency is universally recognized at a given value. This helps to save time in determining a price for a transaction, as well as any fees associated with exchanging money from one form to another. As cryptocurrency is increasingly adopted around the world, it is going to make financial transactions faster and simpler, which is a great thing for everyone involved.
You Are in the Driver’s Seat
One of the best things about cryptocurrency is that, unlike virtually any other type of money retaining system (save for a wall safe or your wallet) you totally own it. Think about it: most traditional liquid asset systems – banks, credit unions, brokerage houses, or even high tech ones like PayPal – take control of your funds and leave you subject to their terms of service. If they decide that you have violated those terms, they can suspend your account. They can change their terms of service, and cause you to have to pay more or receive fewer funds for important transactions. With cryptocurrency, you retain all of the funds on hand, so to speak, digitally, with no third party involvement; the only one who can change the terms of your cryptocurrency use is YOU.
There are multiples way to benefit from cryptocurrency (similarly there are some risk associated with the usage of cryptocurrencies, however I will begin by focusing on the advantages!), here are some examples to help you get started:
Cryptocurrencies like Bitcoin or Litecoin or Ethereum are not formally linked to the laws and regulations of any central government, corporation or bank.
Cryptocurrencies are typically protected from interest rates, fees and surcharges that you may have to pay on your bank account or credit card. In reality, the crypto aficionado community that comprises the core development team and all of its regular users, are philosophically against these fees.
International cross-border payments can be executed within 10–30 minutes compared to 5–8 business days using traditional banking infrastructure. I published an article on this subject at Blockgram.com.
Protection from a high rate of inflation. Inflation can significantly reduce the purchasing power of any government-issued legal tender (such as the EUR, CAD, USD).
Cryptocurrencies offer anonymity and identity protection. Currently, if a consumer uses traditional payment platforms to purchase a product or service, aside from the transfer of funds from Bank A to Bank B, the consumers personally identifiable information (PII) is also transmitted. Therefore, central governments, large scale banks or credit unions can tap into this data. This is in contrast to the incognito offering of a cryptocurrency. That being said, many of the cryptocurrency exchanges that facilitate the buying and selling of Bitcoins or Ethers have established know your customer (KYC) and anti-money laungdering (AML) modules, and these modules do contain some PII that could be sensitive and confidential.
Cryptocurrencies like Bitcoin or Litecoin or Ethereum are not formally linked to the laws and regulations of any central government, corporation or bank.
Cryptocurrencies are typically protected from interest rates, fees and surcharges that you may have to pay on your bank account or credit card. In reality, the crypto aficionado community that comprises the core development team and all of its regular users, are philosophically against these fees.
International cross-border payments can be executed within 10–30 minutes compared to 5–8 business days using traditional banking infrastructure. I published an article on this subject at Blockgram.com.
Protection from a high rate of inflation. Inflation can significantly reduce the purchasing power of any government-issued legal tender (such as the EUR, CAD, USD).
Cryptocurrencies offer anonymity and identity protection. Currently, if a consumer uses traditional payment platforms to purchase a product or service, aside from the transfer of funds from Bank A to Bank B, the consumers personally identifiable information (PII) is also transmitted. Therefore, central governments, large scale banks or credit unions can tap into this data. This is in contrast to the incognito offering of a cryptocurrency. That being said, many of the cryptocurrency exchanges that facilitate the buying and selling of Bitcoins or Ethers have established know your customer (KYC) and anti-money laungdering (AML) modules, and these modules do contain some PII that could be sensitive and confidential.
For me, the advantage is the opportunity to make money in this market. And most importantly, I like to work very much at home at the computer
in my opinion, if Cryptocurrency has many benefits, the first is the secret currency that minimizes the risks in holding big cash, also trading cryptos has a very high contribution to everyday life, because that is the way to produce so crypto offers convenience, and they more transparent.
what are the benefits you get in Crypto? And how those it affect your daily living?
Actually, for me personally, the change is not that big, because I spend about 2 to 3 hours a day. So this is not a problem. At the same time, I hit some very good bounty campaigns and am very pleased with their results.
1. Eliminate chargeback fraud
A Bitcoin transaction is immutable. Once a client has paid for a product or service, the money is in your account. Unlike credit card payments, charges cannot be reversed.
2. Immediate availability
There is no third party-dependent waiting period the way there is with bank-owned payments. Once payment is successful, the transaction amount is in your wallet and accessible immediately. You can convert Bitcoin into your local currency fiat at the end of each transaction, at the end of each working day or according to a custom set schedule.
3. Lower transaction costs
Credit card payments usually end up costing you a 2 to 4 percent fee. With Bitcoin, this amount is a low flat fee, not a percentage of the transaction.
4. Attract new customers
As Bitcoin rises in popularity, more users seek out participating businesses. This can mean exposure to a clientele you didn't have before.
5. Garner publicity
Bitcoin makes the news in a way fiat currency can't. Local, national and even international news outlets are reporting on businesses taking Bitcoin payments, giving you an opportunity for free publicity.
6. Buy into an inevitable business practice
Given the steady rise of cryptocurrency, there is no indication that it will cease being in circulation. And where Bitcoin goes, other altcoins are sure to follow. In the future, accepting cryptocurrency as payment might be standard procedure.
7. Gain experience with blockchain technology
Blockchain is the future. Bitcoin is an easy, accessible way to introduce yourself and your business to its workings. This could lead to further technical exploration at a later stage once you've gained confidence working with the technology and have identified a need for blockchain tech in your business.
A Bitcoin transaction is immutable. Once a client has paid for a product or service, the money is in your account. Unlike credit card payments, charges cannot be reversed.
2. Immediate availability
There is no third party-dependent waiting period the way there is with bank-owned payments. Once payment is successful, the transaction amount is in your wallet and accessible immediately. You can convert Bitcoin into your local currency fiat at the end of each transaction, at the end of each working day or according to a custom set schedule.
3. Lower transaction costs
Credit card payments usually end up costing you a 2 to 4 percent fee. With Bitcoin, this amount is a low flat fee, not a percentage of the transaction.
4. Attract new customers
As Bitcoin rises in popularity, more users seek out participating businesses. This can mean exposure to a clientele you didn't have before.
5. Garner publicity
Bitcoin makes the news in a way fiat currency can't. Local, national and even international news outlets are reporting on businesses taking Bitcoin payments, giving you an opportunity for free publicity.
6. Buy into an inevitable business practice
Given the steady rise of cryptocurrency, there is no indication that it will cease being in circulation. And where Bitcoin goes, other altcoins are sure to follow. In the future, accepting cryptocurrency as payment might be standard procedure.
7. Gain experience with blockchain technology
Blockchain is the future. Bitcoin is an easy, accessible way to introduce yourself and your business to its workings. This could lead to further technical exploration at a later stage once you've gained confidence working with the technology and have identified a need for blockchain tech in your business.
what are the benefits you get in Crypto? And how those it affect your daily living?
There are benefits, but the risk is greater. I never think badly, I only see the current situation where the crypto market is experiencing lethargy, and that is a big loss to those who have invested a lot of money on coin crypto.
what are the benefits you get in Crypto? And how those it affect your daily living?
I have not felt what the benefits of crypto, because I have not invested my money into digital investment.
However, basically all the technology that is created today is for better and better life. So, I always think good of crypto in the future.
cryptocurrency will make life more easier than it is. No taxes or restrictions while transacting. No county boundaries while sending money abroad. Less natural resources are consumed. Easy to earn and spend.
what are the benefits you get in Crypto? And how those it affect your daily living?
The benefits of cryptocurrencies are many. But the biggest advantage comes from the fact that these currencies, by their nature, are secured and are easy to transact because they are used globally.Other benefits could include;
1. In the case of an absence of a middle man, the cryptocurrency typically becomes a peer to peer transaction. In such a situation, the contracts can be settled immediately.
2. Cryptocurrencies can be done at a fraction of a unit. Thus even when someone wants to do a transaction for a few rupees or a few dollars, there will not be any additional cost. Typically, banks charge more for smaller transactions and less for larger transactions.
3. There can be no identity theft in a cryptocurrency transaction.
what are the benefits you get in Crypto? And how those it affect your daily living?
Cryptocurrency helps me a lot, it is my full time job now i get my needs here and my everyday life especially i can buy everything i want and it help my life easy, imagine no need to go out or go home- go to work at another company you will stay at home.
Over the last couple of years, the term cryptocurrency has been rapidly gaining ground and understanding of its use and value in the public eye. At first it seemed unfamiliar and somewhat scary like the credit card looked to users in its early days.You might be more familiar with terms like Bitcoin, and Ether. These are all cryptocurrencies using the Blockchain Technology to keep this currency and technology safe.
Currently, there are many benefits of cryptocurrency, the little below can expansiate:
How will cryptocurrency help you?
Fraud: Individuals cryptocurrencies are digital and cannot be counterfeited or reversed arbitrarily by the sender, as with credit card charge-backs.
Immediate Settlement: Purchasing real property typically involves some third parties (Lawyers, Notary), delays, and payment of fees. In many ways, the bitcoin/cryptocurrency blockchain is like a “large property rights database,” says Gallippi. Bitcoin contracts can be designed and enforced to eliminate or add third party approvals, reference external facts, or be completed at a future date or time for a fraction of the expense and time required to complete traditional asset transfers.
Lower Fees: There aren’t usually transaction fees for cryptocurrency exchanges because the miners are compensated by the network (Side note: This is the case for now). Even though there’s no bitcoin/cryptocurrency transaction fee, many expect that most users will engage a third-party service, such as Coinbase, creating and maintaining their bitcoin wallets. These services act like Paypal does for cash or credit card users, providing the online exchange system for bitcoin, and as such, they’re likely to charge fees. It’s interesting to note that Paypal does not accept or transfer bitcoins.
Identity Theft:When you give your credit card to a merchant, you give him or her access to your full credit line, even if the transaction is for a small amount. Credit cards operate on a “pull” basis, where the store initiates the payment and pulls the designated amount from your account. Cryptocurrency uses a “push” mechanism that allows the cryptocurrency holder to send exactly what he or she wants to the merchant or recipient with no further information.
Access to Everyone: There are approximately 2.2 billion individuals with access to the Internet or mobile phones who don’t currently have access to traditional exchange, these people are primed for the Cryptocurrency market. Kenya’s M-PESA system, a mobile phone-based money transfer, and microfinancing service recently announced a bitcoin device, with one in three Kenyans now owning a bitcoin wallet.
Decentralization: A global network of computers use blockchain technology to jointly manage the database that records Bitcoin transactions. That is, Bitcoin is managed by its network, and not any one central authority. Decentralization means the network operates on a user-to-user (or peer-to-peer) basis. The forms of mass collaboration this makes possible are just beginning to be investigated.
Recognition at universal level: Since cryptocurrency is not bound by the exchange rates, interest rates, transactions charges or other charges of any country; therefore it can be used at an international level without experiencing any problems. This, in turn, saves lots of time as well as money on the part of any business which is otherwise spent in transferring money from one country to the other. Cryptocurrency operates at the universal level and hence makes transactions quite easy.
There is no other electronic cash system in which your account isn’t owned by someone else.
Take PayPal, for example: if the company decides for some reason that your account has been misused, it has the power to freeze all of the assets held in the account, without consulting you.
It is then up to you to jump through whatever hoops are necessary to get it cleared, so that you can access your funds. With cryptocurrency, you own the private key and the corresponding public key that makes up your cryptocurrency address. No one can take that away from you (unless you lose it yourself, or host it with a web-based wallet service that loses it for you).
Overall, cryptocurrencies have a long way to go before they can replace credit cards and traditional currencies as a tool for global commerce.
Fact is, many people are still unaware of cryptocurrency aka Digital Currency. People need to be educated about it to be able to apply it to their lives. Businesses need to start accepting it They need to make it easier to sign up and get started.
The future appeal of cryptocurrencies lies in allowing you ultimate control over your money, with fast secure global transactions, and lower transaction fees when compared to all existing currencies.
When used properly and fully understood it would be the initiator of many emerging systems that will fundamentally change our global economic system.
Currently, there are many benefits of cryptocurrency, the little below can expansiate:
How will cryptocurrency help you?
Fraud: Individuals cryptocurrencies are digital and cannot be counterfeited or reversed arbitrarily by the sender, as with credit card charge-backs.
Immediate Settlement: Purchasing real property typically involves some third parties (Lawyers, Notary), delays, and payment of fees. In many ways, the bitcoin/cryptocurrency blockchain is like a “large property rights database,” says Gallippi. Bitcoin contracts can be designed and enforced to eliminate or add third party approvals, reference external facts, or be completed at a future date or time for a fraction of the expense and time required to complete traditional asset transfers.
Lower Fees: There aren’t usually transaction fees for cryptocurrency exchanges because the miners are compensated by the network (Side note: This is the case for now). Even though there’s no bitcoin/cryptocurrency transaction fee, many expect that most users will engage a third-party service, such as Coinbase, creating and maintaining their bitcoin wallets. These services act like Paypal does for cash or credit card users, providing the online exchange system for bitcoin, and as such, they’re likely to charge fees. It’s interesting to note that Paypal does not accept or transfer bitcoins.
Identity Theft:When you give your credit card to a merchant, you give him or her access to your full credit line, even if the transaction is for a small amount. Credit cards operate on a “pull” basis, where the store initiates the payment and pulls the designated amount from your account. Cryptocurrency uses a “push” mechanism that allows the cryptocurrency holder to send exactly what he or she wants to the merchant or recipient with no further information.
Access to Everyone: There are approximately 2.2 billion individuals with access to the Internet or mobile phones who don’t currently have access to traditional exchange, these people are primed for the Cryptocurrency market. Kenya’s M-PESA system, a mobile phone-based money transfer, and microfinancing service recently announced a bitcoin device, with one in three Kenyans now owning a bitcoin wallet.
Decentralization: A global network of computers use blockchain technology to jointly manage the database that records Bitcoin transactions. That is, Bitcoin is managed by its network, and not any one central authority. Decentralization means the network operates on a user-to-user (or peer-to-peer) basis. The forms of mass collaboration this makes possible are just beginning to be investigated.
Recognition at universal level: Since cryptocurrency is not bound by the exchange rates, interest rates, transactions charges or other charges of any country; therefore it can be used at an international level without experiencing any problems. This, in turn, saves lots of time as well as money on the part of any business which is otherwise spent in transferring money from one country to the other. Cryptocurrency operates at the universal level and hence makes transactions quite easy.
There is no other electronic cash system in which your account isn’t owned by someone else.
Take PayPal, for example: if the company decides for some reason that your account has been misused, it has the power to freeze all of the assets held in the account, without consulting you.
It is then up to you to jump through whatever hoops are necessary to get it cleared, so that you can access your funds. With cryptocurrency, you own the private key and the corresponding public key that makes up your cryptocurrency address. No one can take that away from you (unless you lose it yourself, or host it with a web-based wallet service that loses it for you).
Overall, cryptocurrencies have a long way to go before they can replace credit cards and traditional currencies as a tool for global commerce.
Fact is, many people are still unaware of cryptocurrency aka Digital Currency. People need to be educated about it to be able to apply it to their lives. Businesses need to start accepting it They need to make it easier to sign up and get started.
The future appeal of cryptocurrencies lies in allowing you ultimate control over your money, with fast secure global transactions, and lower transaction fees when compared to all existing currencies.
When used properly and fully understood it would be the initiator of many emerging systems that will fundamentally change our global economic system.
Cryptocurrency benefits are not bound by exchange rates, interest rates or transaction fees. In addition, digital currency transactions occur at the same rate, regardless of where the sender and receiver are located.
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