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The Digital Currency has been the center of the internet for over the past 6 months. Now that most people are well-aware of what actually cryptocurrency is the curiosity of which digital currency is better than the other has become the center of interest. We will wait until people get to a conclusion and we don’t think that day is going to come any day in the near future. However, what we are here to talk about is not that, instead, we are going to shed light on the shift from paper currency to digital currency and why people are making the move?
The fact that the paper currency is dependent on so many factors, including economic situation, political stability, the use and misuse of natural resources makes it extremely fragile. All these factors in actual contribute towards making our currency a bad option for investment. The money of a hardworking citizen cannot be jeopardized by factors that he/she doesn’t have any control over.
Benefits of investing in Digital Currency
Following are some of the major reasons why people tend to invest in Cryptocurrency.
Protection against Fraud
Digital Currency is safe of any fraud, alteration or adultery. Unlike credit cards where the payments can be reverted, cryptocurrency is a safe way of investment helping the investor safely have the amount he/she has actually paid for.
Think of a scenario where you are making a small payment to a merchant from your credit card, once you hand over your credit card you are actually handing over access to your credits, irrespective of the amount of payment you are making. Logically comparing the credit and digital payments, the credit card payments use a “pull” phenomenon where the merchant you are paying pulls all the information. As compared to Digital Currency, you are using the “push mechanism” where you send the exact amount for the product or service you wish to purchase and no information about the wallet or yourself is visible to the merchant.
Purchasing with paper money normally involves multiple parties, for instance, think of purchasing property which includes lawyers, notary etc. that not only making the process more hectic, but you also tend to pay a higher amount keeping the fees in mind. With cryptocurrency, everything is at your disposal whether or not you want to involve third parties or not and also where you wish to make the payment and want it to be cleared at a future date. All these facilities can be availed without paying any extra cost.
People with access to the internet exceed the ones whom lack access to the internet. The world has become a global village and since cryptography is all about the internet, anyone in the world can have access to purchasing and the selling of digital currency. As long as you have a mobile phone or a PC connected to the internet, you are set for having bitcoin.