We are living in a digital era!

All the sectors are adapting to the digital ecosystem as it helps us to save time, resources and energy. Now, you can transfer money and pay bills directly from your phone.

Finance, education, healthcare, real estate, food, investment and many others industries have become digital.

This digital era has made cryptocurrency inevitable. Now, you can use these currencies for everything as more and more people are adopting them as a method of payment.

All the major stores and websites accept cryptocurrency for payment. Earlier only investors were interested in these currencies, but now even common folks are showing interest in it.

Over the last few years, the number of cryptocurrency transactions has increased considerably. It is a multi-purpose currency that works as an asset as well as a method of payment.

Looking at the growing popularity and acceptance of cryptocurrency in the market, soon, every individual will own it. There are many reasons why you should go for cryptocurrency. However, before that, you need to understand what exactly cryptocurrency is.

What is Cryptocurrency?

A cryptocurrency is a digital form of currency. Crypto + Currency = Cryptocurrency. Crypto means digital, and currency means money. So cryptocurrency is nothing but digital money.

You can use it to purchase goods and services as well as for investment and trading. These currencies have no physical presence. They are developed and circulated using cryptography technology.

These currencies work on a platform called a blockchain. It is a decentralized platform that works on servers instead of any central authority.

These currencies are extremely secure as it is encrypted. It keeps all your personal information encrypted. If you maintain anonymity in transactions, you can use this currency. There are thousands of cryptocurrencies in the market.

Out of all the currencies, the most popular one is Bitcoin and Ethereum. Anybody can use a blockchain platform to develop and launch their own crypto token. Cryptocurrencies have a market cap of $1.6 trillion.

5 Reasons to Go for Cryptocurrency:

There are many reasons why you should go for cryptocurrencies. These currencies have finally reached the adoption stage. Nowadays, people do not vary in these currencies. Instead, they are ready to become early adopters and harness the benefits of using cryptocurrency. Here is some reason why we must use it.

Better and Safer Investment Alternative:

The main reason why you should go for cryptocurrency is that it is a better investment alternative. Even though it is volatile, it was not affected by the Covid-19 pandemic. When all the assets and securities failed in the market, the crypt was one of the safest options. Experts compare this currency with gold as it showed a stable growth trend. In order to manage their portfolios, many investors went with crypto. This currency is a better and safer form of investment. You will get higher returns on this currency as the price keeps on fluctuating. The value of the currencies has increased considerably in the last few years. It is a safe alternative as there is no government intervention and inflationary pressure. It is safe and secure as it developed using a blockchain platform. It will help you to keep your personal identity hidden. All the transactions are recorded in the blockchain ledger to prevent theft and avoid duplication.

Crowdfunding Projects:

You can also use cryptocurrency if you want to start a new project. Many young entrepreneurs use this currency to get funding for their project. You can get a business idea, develop your own cryptocurrency and start a funding project. The investors who like your project will purchase your coins and fund your project. You can use the funds to start your own business. You can easily start any type of project with cryptocurrency. It is a better option than going for IPO or borrowing money from banks. You can start your business and get funding for the same in just a few months. You can launch your own ICO, IEO or STO project. You can also develop coins for your existing business. It will help you to create a brand image and promote your business idea.

Cost-Effective and Transparent:

Another reason why you need to use cryptocurrency is that it is cost-effective and transparent. These currencies are built on a decentralized platform. It means there is no central authority to manage it. As there is no government intervention, this currency is transparent. When you do any transactions which include cryptocurrency, it is recorded in the digital ledger. It helps to maintain transparency amongst the parties. The best thing about crypto is that there are no middlemen, which helps you to save a lot of money. You don’t have to pay exorbitant transaction fees to the middleman. You can use this currency to directly transfer money to another person. It works on a self-sustaining platform, so there is no need for any middleman. You can save a lot of money on international transactions. There is no need to pay a high amount of money to transfer funds from one country to another.

Easy Accessibility:

Gone are the days when crypto was a distant dream. Now, most people have started using this currency. Retail, as well as institutional investors, are investing billions of dollars in this market. Companies and corporations are using it for their business. Even the general public is using it for trading, commercial transactions and funds transfer. It has made crypto easily accessible. You can easily buy and sell this currency with your phone. You just need your mobile phone and a crypto wallet to use this currency. You can use this currency with most of the online sites and offline stores.

Future Currency:

The future is crypto. Blockchain technology is taking over all the major sectors and industries. In the last few years, most of the business have started using this platform. As cryptocurrency and blockchain go hand in hand, the demand for crypto is increasing. It is safe to say that cryptocurrency will reign in the future. With its digital nature and various advantages, most people are in favour of using crypto. Looking at the growing trend, cryptocurrency will soon surpass fiat currency as Bitcoin have defeated the Japanese Yen to become the third-largest currency in the world.

These are the five major reasons why you should go for cryptocurrency. If you start using it now, you will reap the benefits in the future when the value skyrockets.