Benefits of cryptocurrency as a financial medium



Crypto-currency
has been there for more than a decade now. Slowly and steadily it has become
the major source of investment for many people. Given to the volatile nature of
cryptocurrency, it has also lead to making many people millionaire. However,
despite so many benefits, cryptocurrency is often criticized for mostly being
used in illogical activities like the dark site of USA “The silk road”.





On
the other side the value of Bitcoin is continuously on rise which has lead to
positive vibes around the crypto-trading and digital marketing. Many beginners
are still confused not knowing whether it is beneficial to invest in Bitcoin.
So, worry not as you are in the right place.





In
this article, I will clear all your doubts and will explain briefly all the
advantages of crypto-currency as a financial medium:





One
of the greatest benefits of crypto-trading is no middle man. It is beneficial
for traders and brokers as it automatically cuts out the extra charge of the
third party who takes it’s own share of fee for smooth transaction without any
kind of confusion. However, when you are dealing with crypto-currency you do
not have to face any such situation as crypto-currency is an independent
currency that cuts out any third party interference leading direct smooth
transaction without any confusion.





 While doing any kind of international
transaction, the banks charge a huge amount of fees, while same is not the case
without Bitcoin or any other cryptocurrency as they receive their compensation
from the cryptocurrency network involved. It means we easily escape any kind of
extra charges.





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  • Confidential transactions
    are now easy

While
paying with cash or credit cards, a complete detail about your account is asked
for. For many transactions even a through checking of your account and details
are asked for which effects your privacy. However, with cryptocurrency it is
not the same. Infact cryptocurrency was designed to keep the anonymity
secure of every user. The cryptocurrency works on the procedure of blockchain.
Though each and every transaction history is stored in blockchain and every
time you make a transaction, your account address is changed into a new one.





Unlike
government backed paper currency, cryptocurrency is not controlled by any third
party like government or banks. You don’t have to rely on banks for making
transactions and storing your money. Infact you can keep cryptocurrency is very
much independent any does not require any medium or third party in between for
handling their transaction. Apart from that you even don’t need to pay taxes to
government no matter how much you earn in crypto-currency trading. It means
that your hard earned Bitcoin is totally yours and no third party can claim
ownership over it.





There
are so many crypto-currencies available in market as of now. Many are there for
trading and others are there for specific case use. For example if you want
more of anonymity that can help you hide your identity even in Blockchain, then
“Privacy coins” is the answer for you. Yes, you heard it right. There are so
many coins and you can choose the one according to your taste and likings.





Ok,
this may be one of the favorite features of traders and no doubt why they love
crypto-trading. There is no charging back once you have made the transaction.
Let me tell you that it is a hedge against fraud that requires specific
agreements in case of return policy.





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Benefits of cryptocurrency as a financial medium Benefits of cryptocurrency as a financial medium Reviewed by Crypto Currency on December 27, 2019 Rating: 5

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