Everybody speaks about cryptocurrencies, but why is that so? Everyone tells you how much capital you can make if you invest in them and how good of investments BTC and ETH are, and so on.
But, has someone ever told you how amazing cryptocurrencies are and why? We don’t think so, and that is why we are writing our post.
Start reading now, if you want to see how the crypto world can make the world a better place. Let’s start.
Cryptocurrencies help with corruption.
There are a lot of ways in which cryptocurrencies help with corruption, but here, we will summarize the most known and familiar, which in our opinion is the most interesting of all.
Have you ever heard about the double-spend problem?
This problem is a huge issue and here is the reason why: it is possible that the same digital cash can be spent more than once since a digital token consists of a digital file which can be duplicated or falsified.
This meant that with only 20$ we could go to the supermarket ten times if we wanted, and spend those 20$.That means that you would pay about 200$ when you had only 20$ at the beginning.
Can you see the problem?
In early 2009, BTC implemented a solution. It also uses a scheme which is called proof-of-work, to avoid the need for a trusted third party to timestamp transactions and these timestamps were recorded in the blockchain.
Decentralization is the name for this. This means that the same money cannot be spent more than once, which would be unethical, as well as unfair and of course, illegal.
Control of people.
The first point brings us directly to the second one, which is known as the people’s control. Are you familiar with the site etherscan.io?
This is a website which can seem creepy at first, but you can see all the Ethereum addresses, as well as watch all of the transactions that they have.
This is a way to see how “important people” manipulate their capital so that they can aware they cannot do anything illegal without the rest of society watching it.
You may think that you have no privacy, but unless you share your address, then no one can now whose wallet is that. So, you should not be worried.
Anyone can buy cryptocurrencies which means that everybody can make high profits.
Someone who gets paid less in their work can try to have an equal income to that of someone that gets paid much more for their job.
This means that there can also be a balance of social standards.
Lower fees in all cryptocurrencies for any transaction.
Some people hate to give away money to the wealthy bankers just for moving their money. We hope that you think the same as we do. Why should we pay such high fees just to make a transaction?
If we could have much lower, wouldn’t we do it? Of course, we will. Cryptocurrencies permit you to do so, so why not use them right?
In some aspects, FIAT money cannot be safe.
Have you ever walked on the streets with some cash in you and you were scared because you thought that maybe someone would come by and steal your money? We believe that everyone has been in the identical situation.
Cash is not safe. When you take out that $50 note, you know that you have exposed yourself to a person that wants to take that money from you.
But, if money was only in digital wallet, then you would not be exposed when you went to buy some coffee for instance. So, what do you think? Would you vote for fewer robberies?
Those cryptocurrencies are all for you.
When having your money in the bank, you should no longer use the term “your money,” as it is the bank’s money now, but under your name.
Have you thought about this before? With cryptocurrencies, you own the private key and the corresponding public key that create your address on the cryptocurrency.
No one can take you that away (unless you lose it, which will be a tragedy for you). Remember, you are the owner of your money.
What is more beautiful than waking up in the morning and see that your investment has given you 50$ profit while you were sleeping? It does sound cool, right?
Evidently, there is a trick to it; you cannot just put your money in any cryptocurrency, but you have to make a wise decision as well.
If after reading our article you think about investing in cryptocurrencies, then you should share your thoughts and ideas with us.