Cryptocurrencies have enormous potential. Tomorrow, it is most likely to disrupt the traditional financial systems and empower people. Today’s naysayers, who heap scorn on digital coins, are set to regret not investing in them.
Check out the top ten reasons why cryptocurrencies ought to be bought today.
Future of Money: Nothing remains the same. Decades ago, fiat money completely replaced the gold standard. A decade from now, there is a strong likelihood of cryptocurrencies becoming a viable alternative to conventional currencies, especially for online trading. Digital currencies have all the right attributes to become the future of money, although it might never replace fiat money.
Peer-to-Peer Network: One of the best aspects of cryptocurrencies is the peer-to-peer transaction network. Intermediaries have no role to play in this transaction process. Owner of an asset can directly send it to the recipient. The transaction is almost immediate, hassle-free, and easy to verify.
Fast Transaction Speed: Cryptocurrencies are quite fast with transactions. They have faster speed in comparison to other online payment systems. Ripple, for example, processes 1,500 transaction per second, which is almost eight times faster than the traditional system Paypal. The transaction speed of the cryptocurrencies is set to become even more faster in the coming years.
No Fees or Nominal Fees: Most payment systems charge a transaction fee of around 1 to 3 percent. Cryptocurrencies, on the other hand, charge a very nominal fee or no fee at all.
Remittance – Convenient: For sending remittances, migrants desire a payment system that charges less, is safe and convenient. Cryptocurrencies offer them that. By using cryptocurrency, migrants can very easily and quickly send money home. Moreover, they do not need to pay the high transaction fee and conversion rate that are typically associated with international remittance.
Anonymity and Privacy: Cryptocurrencies keep transactions anonymous and protect the privacy of their users. They do not have to give their personal information during the transaction process. The identities of the asset owner or the asset receiver are untraceable.
Secure System: Blockchain, the technology that enables cryptocurrencies, is immutable. It ensures that the cryptocurrency’s payment system is very secure. Fraud of the kind that is usually associated with credit cards is not possible with virtual currencies.
Decentralized: One of the key reasons why enthusiasts are captivated by cryptocurrencies is: decentralization. Central authorities, such as regulatory bodies, have no role to play in the transaction process. The peer-to-peer network of the virtual currencies eliminates the need for a third party or central bank regulations.
Future More Bright: The cryptocurrency technology is still developing, and the people working on it continue to do intense research on how to further improve it. They promise to make cryptocurrency-based payment systems a lot faster than its current speed, more secure, and more efficient.Return on Investment (ROI): Cryptocurrencies may not make their investors super-rich overnight, but they have the potential to give them great returns in a short period. For example, bitcoins can reportedly give investors a yearly profit of “up to 2000 percent.”
