There are many investors who are not necessarily interested in actually using cryptocurrencies like Bitcoin (BTC) in everyday life. In addition, it is very likely that one is related to the other. If the use case increases, the bitcoin price may also rise. In this respect, it is quite interesting for crypto investors which practical applications there are – regardless of whether they want to use them or not. You can turn and turn it as you like, one thing is certain: in the masses, everyday payment via Bitcoin
There is talk of blockchain and an enormous innovative potential, but what exactly cryptocurrencies do “differently” and why that is stirring up the financial world, so far there is little to be found.
Advantages of cryptocurrencies
Here are key benefits of cryptocurrencies:
1. Decentralization
Cryptocurrencies enable digital payment transactions without central administrations. Thanks to the decentralized data exchange, individual groups or interest groups such as banks or governments can neither simply print new money nor manipulate the course.
The decentralization of personal data or transactions is based on blockchain technology. The transactions stored in a blockchain are immutable and therefore do not require administration or confirmation by a third party. Blockchain technology makes business possible without a third middleman. This can be, for example, trading stocks without banks or buying real estate without notarization.
2. Access for everyone
There are significantly more people worldwide who have access to the Internet or smartphones than people who have access to the banking system.
Cryptocurrencies offer unbelievably great potential for precisely this population, since they can now be included in a new financial system. Cryptocurrencies do not exclude users based on their history or other characteristics. The already widespread micro-user credit system also uses this potential.
3. Immediate processing
Both in the processing of classic transactions such as online transfer, as well as the purchase of real assets or other valuables, costs a lot of time due to delays by third parties. The https://bitqt-app.com is one of the genuine and best trade bitcoin platforms.
Transactions in cryptocurrencies can usually be carried out in seconds or minutes and you need it, as already, no third parties.
4. Low fees
In contrast to the fee structure within the current banks and financial industry, the actual transaction costs and fees are negligible.
The often royally paid middlemen such as banks (account management fee, transfer fee, 3-day time to work with the money, withdrawal fee at the machine, penalty interest, etc.) are completely eliminated since their services are no longer required. This not only has the advantage of a better fee structure, but the pure compulsory remuneration as a money manager is completely eliminated
5. Anonymity
The advantage of anonymity is often associated with criminal activities such as money laundering, extortion or other crimes. Certainly Bitcoin & Co. are also used by various groups that adopt the anonymity of cryptocurrencies for illegal activities or interests. But anonymity also means equal opportunities and not transparent accounts.
Everyone has the opportunity and the right to property, without regulations or other institutions that want to know exactly who has how much money.
With the argument of crime, certain interest groups repeatedly try to put a bad image on cryptocurrencies.
6. New business models
The technical innovative power creates disruptive business models that will bring entire industries to collapse. This not only results in advantages for users, but also for companies. With the help of blockchain, long-established monopolies can be brought down and new companies with different earnings and service models can emerge from them.
If you are interested in the different options, how you can invest in Bitcoin, Ethereum and other cryptocurrencies and what an example portfolio could look like, then you should read on here.
The crypto industry as a whole is developing significantly better than the stock market, for example. On the one hand, the price gains of digital currencies, on the other hand, the losses in securities due to the economic and political turmoil – the number of crypto fans also rose as a result of the global economic climate. Bitcoin is good business option in which one can earn good money without doing lot of affords.
