Let’s face it! Once upon a time, when the subject was sending money locally or globally, we all took a step back, considering the time consuming and challenging processes. We used to stand in a queue with a bunch of documents in our hands, wait hours, and give the written account number with cash to the bank employee. Worst of all, we had no idea about when our transfer would arrive at the receiver account or if it would even. An international money transfer could take more than a week in some cases.
Yes! It was a terrible way of sending money abroad and a massive hunchback on the financial system. The main reason was the monetary authorities here! They used to work as a gigantic company together to have complete control of the cash circulating around the world. However, their reign ended thanks to the rise of digital currency.
What is Digital Money?
The revolutionary appearance of Bitcoin evolved our financial perspective into something more innovative and dynamic. Unlike the system at a snail’s pace we used to know, the digital cash ecosystem does not utilise greedy intermediaries and is not linked to any regulatory authorities. As the symbol of decentralisation and libertarianism, cryptocurrencies demolished the monopolised monarchism of traditional finances.
After divulging the mind-blowing manifest “Bitcoin: A Peer-to-Peer Electronic Cash System” authored by Satoshi Nakamoto, the conservatives’ critics hit the ceiling. They all anathematised an independent system grimly and blackened it being another Ponzi Scheme. The funny fact is that those who blame it back then have become today’s most major crypto exchange enthusiasts. Because, at the end of the day, money talks.
Digital Cash Advantages
In contrast with fiat currencies, digital currencies come with a significant number of benefits. To save some time for our readers, we have listed the prominent advantages of cryptocurrencies below:
- It is more secure!
Since digital coin transactions are irreversible once confirmed, unlike fiat currencies, they can not be traced. Another plus is the privacy of the personal information that you do not insert. Digital currencies are also empowered by an excessive encrypted technology which makes them invisible to counterfeit or duplicate.
- They are faster!
As we mentioned before, the traditional banking system is time-consuming and slow. Once you order a sizeable international sum of money transfer, it may take days or even weeks to reach. In contrast, digital cash payments are not affected by amounts, time or target point’s distance.
- It is cheaper!
As for peer-to-peer transactions, you do not need to encounter extra fees. Blockchain technology eliminates all the intermediary institutions to reduce all possible transaction fees. You will only pay a service fee, and that’s all.
- It is discrete!
Our all fiat currency transactions and financial history is documented detailedly by credit reporting agencies, collectors, and marketers. Yes! Unfortunately, banks do that all the time! However, digital currencies are decentralised; thus, nobody can track your or document your account activities.
Consequently, digital currencies are the avant-garde faces of a futuristic economy. They are one of the most demanded investment areas, and their usage field is broadening day by day. Multiple crypto exchange establishments launch their digital cash cards to increase crypto payments on a daily basis. You can purchase items on crypto-friendly physical or online platforms through these cards.
Our marvellous digital wallet, Jeton Wallet, chases the latest trends, emerging markets, updates, and international regulations momentarily. Join us today not to miss what is new out there. Together we can move your business further, beyond your dreams!