Ever since cryptocurrency came into existence, there have been its numerous admirers and of course trading gurus are going gaga over it. When cryptocurrency had first come into origin in 2009, at that time not many people were accepting Bitcoin or were curious about it, but as time passed Cryptocurrency found it’s way to the dark web, where it was used for illegal activities.
People were very unsure about it but slowly and steadily people have developed a trust and comfort factor with cryptocurrency and are investing in it more and more with the hope of earning a huge amount of money and becoming millionaire someday.
For those who guys don’t know, you must be well aware of cryptocurrencies like Bitcoin, Altcoin, Ripple, Litcoin, Ether, and Libra. Bitcoin is one of the most famous among these.
What Is Crypto-Currency?
Cryptocurrency is a digital currency that is created through well-advanced encryption techniques known as cryptography. The concept of cryptocurrency got popular with the invention of Bitcoin in 2009. The popularity of Bitcoin soon skyrocketed and by the year 2013, the value of a single Bitcoin was a whopping 266 US dollars.
The concept of crypto-profit.io is so popular because the idea of cryptocurrency is freedom. That is why crypto is made in such a form that it is free from the control of any third party like government or banks. Your cryptocurrency is purely yours and no other third party has any control over it.
It is not the end! There are more many advantages of Cryptocurrency. If you too want to know, then continue reading this article.
Lesser Transaction Fees
There is no fee for cryptocurrency transactions as most of the miners are paid by the network itself, having that said nowadays there are crypto wallets available that provide people the service of storing and transferring cryptocurrency.
Most of the people keep the crypto-wallet as it is an important part of crypto-trading and use this service for transactions of cryptos. Still, the transaction fee is very less like 0.001 percent for the entire transaction, whereas the banks charge 10 to 30 percent of the entire transaction.
Reliable
Cryptocurrency is more reliable as there is no dependency on any third party like banks. Cryptocurrency is designed in such a way that it eliminates the dependency on the third party and the transaction is much quicker. Cryptocurrency takes the standard times of 10-15 minutes even for international transactions, whereas the bank takes a long duration of 3 to 4 working days.
No Chargeback
Cryptocurrency is boon of the traders as crypto does not support chargeback options and once you have hit the send button, you can in no way take the money back. Whereas this is not the case with bank and that is the reason of frustration and disappointment for them, as many times it so happens that even when the deal is cracked and the client sends the money, sometimes they change their mind and chargeback, which is, In fact, a huge loss for traders.
Accessible To Everyone!
Cryptocurrency can be owned by anyone from a child to an old man. There is no age restriction and no verification for owning Cryptocurrency. There is no age verification and even identity verification process required for having a Crypto-wallet. So, it is very easily accessible to everyone.
Anonymity
Cryptocurrency allows you to send money while maintaining anonymity. The reason is that crypto works based on a push mechanism that enables the sender the send the amount without revealing any other information.
However, when you operate with a credit card, it works on the pull method gives access to the user to all the information on your credit card.
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