Digital currency or cryptocurrencies Cryptocurrency is a type of digital asset that is secured by encryption. It is designed to be used as a medium of exchange like fiat currency, but it is not tangible.
Although now crypto It cannot be used to legally settle debts like normal currency. (The exception is El Salvador, which was the first country in the world to legalize bitcoin as a legal tender.) But many businesses are beginning to embrace crypto-related technology. Used to adapt to the financial world that is about to change, such as accepting payments for goods and services with Bitcoin. or other digital currencies
Benefits of Cryptocurrency
Easy and Fast Transactions: As transactions involving cryptocurrencies It's all digital. Therefore, it is convenient and fast whether conducting domestic or international transactions with technology superior to traditional banks.
Low Transaction Costs: Anyone who has ever transferred money internationally knows that transaction fees can be quite high. But if transactions are made through crypto It will greatly reduce the cost of transaction costs when compared to other financial services.
UFA771Secure and private: Because crypto It works on a technology called “Blockchain” which is a technology that is difficult to decipher mathematically. This makes cryptocurrencies more secure than traditional electronic transactions.
Superior transparency: each crypto transaction It is recorded in a ledger using “Blockchain” technology, which cannot be altered, reversed, or destroyed.
Hedging against inflation risk: Nowadays we are beginning to see news of billionaires from various countries storing bitcoins in their portfolios to hedge against inflation risk. This is because they believe that coins with limited supply such as Bitcoin can be used as a hedge against inflation.
Open for trading 24 hours a day: I believe that most investors are probably familiar with the stock market that has holidays and clear opening and closing times. But for the crypto market It has high liquidity because it is open for trading 24 hours a day, no holidays.
