Advantages of Cryptocurrency

[sehoon]

But still, sometimes I don't feel safe here because there is still a possibility that I am going to lose my money. And even though there are countries that don't accept cryptocurrencies, there are also countries that accept it but wants to tax it.

[Coinsher]

There are so many advantages of cryptocurrency,but what I like most is that there's no middleman involve.You can make transaction on your own and you can direct negotiate to those who wants cryptocurrency.Example of this is that when you buy real property,there's no need expensive brokers,lawyers and other typical middlemen who inevitably raise the costs of already expensive transactions.In this way we can save more money for the good of our future.

[poodle63]

There are so many advantages of cryptocurrency,but what I like most is that there's no middleman involve.You can make transaction on your own and you can direct negotiate to those who wants cryptocurrency.Example of this is that when you buy real property,there's no need expensive brokers,lawyers and other typical middlemen who inevitably raise the costs of already expensive transactions.In this way we can save more money for the good of our future.

The crypto currency gives the more privacy for us to make a p2p transaction or basically removed the middle party with high transparency. The cheap fees can be considered as the main advantages of crypto currency. But remember not a lot of people are interested by using it as payment method.

[gomei]

I think the most important advantage of cryptocurrency is the decentralization. They are international and no organization or government can control it. So it is safe. Every node can share all the information.

[jacaf01]

I think I will pick number 9 and 10: No third party and No boundaries, these two for me is what makes crypto attractive to most people, anyone from anywhere can invest into a project with no barrier within, althought the KYC is making it difficult recently

[misterj]

For me. The simplified advantage of cryptocurrency specially in altcoin is that you will gain more profit than those popular coins such as bitcoin, ethereum, etc. But if you are looking for the general cryptocurrency then the advantage is that it is accessible by a lot of people, with capital money or not.

[Antiqua]

Advantages of Cryptocurrency and also disAdvantages of Cryptocurrency already post at first page
but at some point, new coin is born that said to fix where BTC still not improve
the list at first post can change depend on the case
such as if we talk about anonym monero is good example, not BTC

[mylabs01]

I don't think using cryptocurrency will make you anonymous user because the transaction is plain public both sender and receiver can be tracked through hash code that which can be accessed also through blockchain explorer and scanner.

You are anonymous because anyone transacting with you does not need to see you physically or need you name and address.

Im happy knowing that this cryptocurrency is totally available in public because you can easily access everything that was mentioned here. Very much thankful for these.

[minbosen]

I think the most important advantage is the total supply is constant. No one can generate more coins when compated to the fait currency. That means the coins will be expensive if it is useful.

[udayantha11]

Advantages of Cryptocurrency:

1. Easy access – Cryptocurrency is readily available to the general public. Almost anyone can make use of it. It is a decentralized operation and investors from all over the world have easy access to them. You can find various projects trying to raise funds through cryptocurrency. Almost anyone that can make online fund transfers can become part of such projects.

2. Quick and easy payments – Making payments using cryptocurrency is very easy.  You can do it in just a matter of a few seconds. It is very fast because you don’t require to feed many details, you don’t even need to enter your credit/debit card details. All you need is the address of the wallet of the person or enterprise to whom you wish to make the payment too. The amount shall credit to the receiver within few seconds to a few minutes depending on the crypto. The ease of transfer and the low transaction fees makes it very desirable.

3. Costs less – Transferring money by using any other online forum or bank gateway is expensive as they levy considerable fees for the transaction. Credit card processing companies charge hefty fees. But it is not the case with cryptocurrency as the costs are nil or negligible. With credit cards or debit cards, the seller is the one paying a fee but for crypto’s, it is the buyer paying the small fee.

4. Private – You don’t need to share your identity or whereabouts or the details of the transactions made between you and the beneficiary. No information required to share with the government and the bank regarding the deal. It is truly decentralized.

5. Highly secured – All your transactions will be secure as it is using NSA created cryptography. It is next to impossible for any person other than the owner of the wallet to make any payment from the wallet, unless they were hacked which there are many ways to protect yourself from.

6. Remain anonymous – Some coins can help you stay anonymous but contrary to popular belief, not all of them can. Bitcoin is pseudonymous which means people won’t know exactly who you are on the blockchain but they can get some information from it.

7. Your details are safe – Nobody can steal your personal information from merchants, which ensures the privacy of your sensitive data. By creating a proxy ID, you can make sure that no one knows anything about you.

8. No chargebacks – Once you made the payment, you cannot chargeback. This considerably depletes the chances of a fraud. Once the transfer has completed, it cannot reverse. Nobody can file chargeback like you can on credit cards. It has it’s cons but can be an advantage also.

9. No third party – You are the master of your money. You can keep it in your wallet and use it as per your wishes. There is no third party involved like a bank on whom you need to trust.

10. No boundaries – When you talk about transactions using cryptocurrencies then there are no limits. You may be in a different part of the world and the receiver might be some other hemisphere, you can still transfer the amount without any hassle. The inter-country transaction is extremely easy with cryptocurrency because its function is not under the control of any central bank.

Perfect explanation, crypto currency specially btc will accept by many governments near future. I think that government should focus this , they can gain foreign exchange

[pentol86]

quick and easy payment, not working if you use bitcoin now, normal fee is between 60k-100k satoshi..
but i agree with you about easy acces, this is some people need for transaction, without wasting time

[blacktajin]

There are so many advantage of crypto currency for an instance if we want to transfer some of my money to other person I have to go to the bank then bank will teansfer, here I have to spoilt my time and fees on the other hand in crypto currency I can make a trasfer within few minutes without time lost most securely. In bank if I have a account how is balance its can know other person but in crytp currency can't know my balance.Also there are some disadvantage too.

[GFE]

quick and easy payment, not working if you use bitcoin now, normal fee is between 60k-100k satoshi..
but i agree with you about easy acces, this is some people need for transaction, without wasting time

Yeah, considering local payments it is too high fees for BTC. For payments from one country to another probably it will be ok. At the same there a lot of other altcoins like Ripple with low fees.

[Pain Packer]

I agrre with you,
Cryptocurrencies give governments and central banks pause. They slowly begin to notice that they can no longer continue to debase their currencies without driving people into crypto-currencies, which would actually accelerate the debasement and make their mistakes more obvious.

yes.
now a day many government try to accept this blockchain technology.
if Cryptocurrency taxable i think many country government will accept .
and central bank.................   

Making the crypto taxable is not a good thing you think? If you transact coins, there is a transaction fee which is so big. So if you add the tax even more, what left of the people who transacting it?

[Tapyaks72]

I don't think using cryptocurrency will make you anonymous user because the transaction is plain public both sender and receiver can be tracked through hash code that which can be accessed also through blockchain explorer and scanner.

Are you really sure about it? or you just heard about it and you're just repeating here what you have heard out there from those people who doesn't really appreciate the beauty of cryptocurrency. I am receiving money from the other side of the world via bitcoin so try tracking it if you can really track it or accessed it. No one will be using this kind of service if what you're saying is really true.

Yeah crypto currency is very convenient way of using money because it has no boundaries it not care  who's country are you belong you can pay to anyone around the globe, because it is a P2P transaction it is not traceable to anyone who wish to monitor your transaction, your privacy is always protected
and the economical way of transferring money.

[sunmonkey]

Agreed.
The first 3 points are very important:
1. Easy access
2. Quick and easy payments
3. Costs less
But 4. Private, you should let it option, if you want it more popular and accept by government.

[jhongzjhong]

Advantages of Cryptocurrency:


2. Quick and easy payments – Making payments using cryptocurrency is very easy.  You can do it in just a matter of a few seconds. It is very fast because you don’t require to feed many details, you don’t even need to enter your credit/debit card details. All you need is the address of the wallet of the person or enterprise to whom you wish to make the payment too. The amount shall credit to the receiver within few seconds to a few minutes depending on the crypto. The ease of transfer and the low transaction fees makes it very desirable.

I'm not pretty assure with this sometimes bitcoin delayed transaction you need to generate before you have it, i think you will not wait for a second maybe an hour, but over all your statement  are true and exactly correct. Maybe this crytocurrency were long last in service with us and partner in our daily lives.

The most worst if bitcoin used by abusing by doing crimes and illegal activities that's the hardest part of disadvantage of bitcoin and i hope it could not happen.

[Goldberg007]

Cryptocurrency is the latest currency introduced in the currency world.Yes it has many advantages like,it is very easy to access,it's transaction fees is low.

[whmpblgg]

Advantages of Cryptocurrency:


2. Quick and easy payments – Making payments using cryptocurrency is very easy.  You can do it in just a matter of a few seconds. It is very fast because you don’t require to feed many details, you don’t even need to enter your credit/debit card details. All you need is the address of the wallet of the person or enterprise to whom you wish to make the payment too. The amount shall credit to the receiver within few seconds to a few minutes depending on the crypto. The ease of transfer and the low transaction fees makes it very desirable.

I'm not pretty assure with this sometimes bitcoin delayed transaction you need to generate before you have it, i think you will not wait for a second maybe an hour, but over all your statement  are true and exactly correct. Maybe this crytocurrency were long last in service with us and partner in our daily lives.

The most worst if bitcoin used by abusing by doing crimes and illegal activities that's the hardest part of disadvantage of bitcoin and i hope it could not happen.

So far, any decentralized altcoin has the potential of being exploited by criminals. Unfortunately, we do not have the means to regulate them.

[kelly153]

you are right!  and what is meaning of  investion？choose a few altcoin and holding until a price you would sell it out?