Importance and Benefits of Digital Currencies
Introduction ď‚— 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. These are all Cryptocurrencies using the Block chain Technology.
Importance and Benefits of Digital Currencies Fraud Immediate Settlement Decentralization Recognition at universal level Faster and more cost efficient bank transfer Safe money for those on a lower income Increasing the potential and power of e-commerce
Fraud ď‚— Cryptocurrencies are digital and cannot be counterfeited or
reversed arbitrarily by the sender, as with credit card chargebacks.
Immediate Settlement ď‚— purchasing real property typically involves a number of third parties
(Lawyers, Notary), delays, and payment of fees. In many ways, Cryptocurrency block chain is like a “large property rights database.
Decentralization ď‚— 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.
Recognition at Universal Level ď‚— 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.
Faster and More Cost Efficient Bank Transfer ď‚— There is nothing more annoying than having to pay extortionate fees
just to transfer money between banks, mainly if the transaction is a cross-border one. In honest terms, the way that banks still transfer cash is archaic – they can take up to a week, sometimes more and they involve clearing houses and correspondent banks making the process unnecessarily complicated.
Safe Money for Those on a Lower Income ď‚— It is another way in which digital currencies should change the
playing field. Of course, in high-inflation countries, this could carry some currency risk, but it would be safer than storing cash at home, or at a local bank.
Increasing the Potential and Power of Ecommerce ď‚— While e-commerce is going from strength to strength, there are
ongoing concerns about credit card fraud and the safety of your personal information when shopping online. This results in fewer consumers being comfortable to buy online, as well as online vendors turning away good business.
Who I Am‌  OneCoin is
a global company who specialize in Cryptocurrencies, financial education and network marketing based in Ireland.