The Invention of digital technology has drastically reduced the burden to humans. They make human life easier and simple. The digital currencies called cryptocurrencies has been rapidly gaining popularity in the current trade market. The terms such as Bitcoin, Ethereum, Litecoin etc have become familiar in the market lately. These are the digital currency that acts as a medium to exchange and accepted worldwide. Per the latest statistical survey, there has been rapid growth in the number of Bitcoin users ranging from 22-24 million approximately. This upscale growth over the years clearly indicates profitability and reliability of this trading. Check this out if you want to know how this trade works and how to earn a high return.
So, what makes 22-24 million people trade in Bitcoin? Here are few benefits you gain when you invest in this cryptocurrencies. These factors attract every beginner to step into the world of trading in digital currencies.
- Secured: There is no scope for fraud. This is unquestionably the main factor for investors to trust and invest in this platform. Once the transaction has been executed, they appear in the Blockchain, a public ledger. The recorded transactions are non-alterable/reversible thereby eliminating the opportunity for fraud.
- 2. P2P Transaction: P2P refers to Peer to Peer transaction. The transaction involves only 2 parties i.e. buyer and seller. There are no intermediaries. Thus, it is a direct transaction without any approval of the third party/approval authorities. The transactions are settled and closed faster.
- Confidentiality: The transactions made through credit card are easily traceable and also serves as a record for accessing once financial stability and credibility. Each transaction in Bitcoin are carried uniquely and terms are negotiated, agreed by and between the parties in each case. The parties transmit only the actual amount which they intend to and there is nothing extra besides the same.
- Transaction Fee: No doubt, you would come across this term whenever you make any online transactions/transfers etc. This fee in total would amount large number in case the transactions are higher. However, this doesn’t apply in case of cryptocurrency transactions as the data miners (programmers verifying transactions) receive compensation from their network and not from the parties.
- Decentralisation: The entire trading in cryptocurrencies work on the concept of decentralization. Meaning, there is no controller or single authority to approve, regulate, guide every transaction. The transactions are recorded in database network called Blockchain. One can have access to this database to understand the transactions, have a quick view of the exchange recently executed etc.
Even though cryptocurrencies are gaining popularity in recent times, fact that many people are still unfamiliar with this trading and are unaware of its advantages. In this fast-moving world, people need to explore the opportunities available to enjoy better, higher and healthier life.