Living in the 21st century, when the power of technologies is rising exponentially, we are faced with IT innovations on an everyday basis. Some of them become an integral part of our lives, while others are forgotten within a couple of months. The question on the cryptocurrency users’ agenda is which category do digital currencies belong to? How relevant is it within the financial market today? Let’s see.
The vast majority of experts are agree that digital transactions are going to replace the “traditional” ones completely. Our age is the era of globalization; we live, work and study abroad, travel a lot, support business relationships with international partners – and every time we have to spend quite a frustrating amount on exchange commissions. We always depend on the rates, which are a subject to permanent changes. There are always such risks as fraudulent activities, bankruptcy of the banks, cards loss etc., while we need a stability, confidence, security and independence.
Here is why a cryptocurrency’s popularity keeps increasing. Unlike the fiat currencies, the digital ones are decentralized and thus, do not depend on any country / bank / financial institution; there is no need for a verification “from above” to complete a transaction. An impossibility of chargebacks considerably reduces the risks of fraud. A cryptocurrency’s rate is not a subject to an inflation’s impact.
Digital coins cannot be “burnt” or disappear as a result of the bank’s liquidation. The commission for digital currencies’ transfers is either low or zero. The requirements to a cryptocurrency as a digital instrument are the following: fast transactions confirmation, low commission and high liquidity on the markets. Crypto-transactions come as a long-awaited solution to many major problems the e-commerce market deals with.
Unlike fiat currencies, the digital ones do not have to compete with each other, since they can perfectly co-exist mutually benefiting from it. It gives the customers a stunning variety of choices; every shopper is free to use any cryptocurrency they would like to, while the merchants get the same result, whether a transaction has been made with a debit card or digital coins.
The most stunning accomplishment of cryptocurrencies is their ability to open the doors and provide an absolute freedom & extraordinary number of opportunities to anyone. Digital coins enable its users to make breakthroughs on a daily basis. Having all invaluable benefits of crypto-assets in mind, there is no wonder why digital currencies are considered as the future of the financial market.