What are the Advantages of Cryptocurrency?

Cryptocurrency has become extremely popular across the globe.

Introduced in 2009, there are over 10,000 cryptocurrencies in which you can invest.

Bitcoin (BTC) has become the world’s largest cryptocurrency by market capitalization, thanks to its mass adoption and profitability.

But are you aware of the advantages of cryptocurrency?

You can not only invest in cryptocurrency but can use it to exchange goods and services.

Cryptocurrency ensures enhanced safety and freedom from government or bank interventions in your wealth.

Here are some of the advantages of cryptocurrency that you can enjoy.

Quick Transactions

You can quickly send money to anyone around the world with cryptocurrency.

Cryptocurrency is a digital currency that exists on blockchain technology. Each transaction of cryptocurrency is recorded online and is secured by cryptography.

You can send cryptocurrency at any time, thanks to its 24/7 availability.

Carl Runefelt, alias, The Moon, is a global crypto leader who is pushing for the mass adoption of cryptocurrency.

According to Carl, “Obviously, you cannot just send a gold bar over to wherever it’s Russia or to I don’t know Slovenia. You cannot just across the board to send the gold. Bitcoin just a few minutes and you can send it wherever. The same goes with for example the U.S. Dollar or any other fiat currency out there.”

Accessibility

Cryptocurrency is considered one of the most accessible liquid assets as anyone can buy it.

All you need is an internet connection whether on a computer or smartphone.

You can go to an exchange platform and open your crypto account.

There you can set up your crypto wallet to store cryptocurrency.

Bank accounts, on the other hand, require intense documentation and a lot of time.

Security

Cryptocurrency is extremely safe, thanks to cryptography.

No one can gain access to your cryptocurrency unless you share the key to your crypto wallet with others.

But if you lose the key to your crypto wallet, there is no way you can recover the funds.

Carl on his YouTube channel, The Moon, emphasizes, “Obviously, gold is also extremely safe. But I would say that Bitcoin is safer because of course, it is online no one can just steal it or hack it. Gold, it is actually a little bit risky to keep it because it is so easy for someone to just break in and steal it. Bitcoin is harder, so in times of uncertainty, I think Bitcoin is going to prove to be very strong.”

In addition to this, the transactions of cryptocurrencies are secured by the nature of the blockchain system.

Privacy

One of the best advantages of cryptocurrency is its privacy.

When you open an account on a crypto exchange platform, your name remains invisible to others.

Cryptocurrency transactions are anonymous, and no one knows your name.

Self-managed Wealth

Cryptocurrency is a decentralized currency which means that it operates free from the influence of a bank or government.

With cryptocurrency, you can enjoy the freedom of managing your wealth yourself.

You would be able to send money from anywhere with just a few clicks.

However, with fiat, you would have to wait for bank processes that can take a long time.

Exponential Growth

Cryptocurrency was unknown to many when it first appeared on the global stage.

The total market capitalization of cryptocurrency was around the US $1.6 billion.

Today, the market capitalization of cryptocurrency has risen above the US $1 trillion (as of August 2022).

This shows the remarkable growth potential of the crypto market.

Outsized Returns

When you are investing money in an asset, you would always want to make good profits.

Cryptocurrency is volatile which means that its value can fluctuate at any time.

For example, Bitcoin was traded for around the US $963 in 2016, but it reached the US $60,000 in 2021.

Carl says, “I am very confident that this will be a very good investment. I believe that Bitcoin is not only going to go to $500,000, I think that Bitcoin is gonna go to five million dollars per Bitcoin in today’s money. Obviously, with inflation, bitcoin could go to trillions of dollars per Bitcoin.”

So, you can make a handsome profit by investing in cryptocurrency.

Conclusion

Cryptocurrency is getting popular with each passing day.

The number of cryptocurrency investors is rising worldwide as people want to invest their money in a secure asset. You cannot only make a lot of money by investing in cryptocurrency but also enjoy its other benefits.

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