However, Cryptocurrencies are not bound by any of those exchange rates, transaction charges, the interest rates or any other fees applied on any countries. They can be used at any time at any international standard without experiencing any problems. It also saves a lot of your time and money by reducing additional spending over transferring money from multiple countries to another. Which means cryptocurrency operates at an international platform which in turns, make transaction easier than your average telegraphic transfer. To recap, there are 4 major advantages concerning Cryptocurrencies. It has ‘No Third-Party Involvement’, ‘Lower Risk compared to Traditional Currencies’, ‘Protection from Fraud’ and ‘Universality’. Despite the amazing advantages that come with Cryptocurrencies, there are also some setbacks to this investment. We will uncover it in the next chapter.
7-0 – Are There Any Drawbacks? Previously, it was mentioned how Cryptocurrency is one of a kind digital currency without likeness. Because not many payments nowadays are without the involvement of a third-party, lower risk payment, little to no fraud cases and most of all, universal in its usage.
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