In the twenty-first century, many aspects of human life have switched to digital mode. When the Cryptocurrency appeared, the whole world was stunned. Having money that is not controlled by any government, develops separately from the world’s economic fluctuations, and can be the alternative to any local currency is the sign that humanity is developing very fast.
When the CC was only implemented, many people looked askance at it. But now, there are more and more reviews from real people of the websites where Cryptocurrency can be bought and sold, like AXITRADER review, and there is more trust in it. Nowadays, when there is enough evidence of its safety, more and more of us decide to use Cryptocurrency as a payment method.
In this article, you will find a list of important reasons to pay with Cryptocurrency.
Lower Fees
Modern people are barely aware of the fact of how much money banks take from us. These might be different sources, such as ATMs, debit and credit card fees, merchant fees, foreign transaction fees, inactivity fees, et cetera. Taking all these extra payments for granted, people don’t understand that they can save a fortune by using Cryptocurrency.
When between a sender of the money and the receiver there is no middleman, the cost of a transaction is minimal. Therefore, the banking system is facing real competition nowadays with the currency of a new era.
Safety
Let’s not talk about why digital money is safer than cash because the reasons are obvious. But there is another type of safety being enhanced when one pays by Cryptocurrency. Usually, while proceeding payments online using our credit or debit cards, we leave a digital footprint containing a lot of personal data.
The website owners immediately know your name, age, sex, address, income, passwords, et cetera. Blindly trusting your personal data to the third person might be too dangerous. In the better case, the information about you will be used for the ads and pop-ups that appear on your screen. But in the worst scenario, your money can get stolen by somebody.
When it comes to Cryptocurrency, the leak of information is almost impossible. First of all, you don’t need to provide so much private data. Very often, payments can be totally anonymous.
Easy Foreign Transfers
Transferring money abroad can be a pain in the back. Depending on the country, it might require a lot of data and be very expensive. Sometimes, receiving a foreign transfer is complicated too. Also, one has to wait for a long time in order to receive money.
When it comes to Cryptocurrency, this is not the case. It is instant, ridiculously cheap, secure, and easy-to-do. In many cases, you would only need the phone number of a receiver.
Accessibility
What do you need in order to make a transfer? Your and the receiver’s personal data, a bank account, time. Those who are under age or don’t have an account in a bank might find this process even more complicated.
In the case of Cryptocurrency, no bank accounts or personal data is needed. It is enough to have a mobile phone. Nowadays, almost everyone owns a phone, but not everyone has got a bank account.
It is enough to download a needed app and have the phone number of a receiver. The payment doesn’t take as much time as the one with a debit or credit card.
In addition, while making transactions online, there always are certain limitation s when it comes to the amount of money you want to spend at the same time. Sometimes, in order to delete the limit, we have to call the bank and solve this issue.
For cryptocurrency payments, there are no limits. You won’t waste valuable time talking with bank workers and changing the settings of the account—transfer whichever sum of money you want.
Tax Implications
As has already been mentioned, governments are not in control of the flow of Cryptocurrency. The only attempt to regulate it was to implement a tax for those who convert crypto money into fiat currency. For instance, many US states already do it.
Paying with Cryptocurrency only reduces the risk of wasting money on the currency exchange. There are so many ways to use CC today that you won’t even notice that you have stopped using fiat currency. More and more restaurant chains, shops, and other places necessary on a daily basis include Cryptocurrency as one of the payment methods available. And the number of places that allow you to pay for goods and services with CC is constantly increasing. Therefore, digital currencies have all chances to overgrowth the popularity of the payment methods modern people are still more used to.
