https://pixabay.com/photos/bitcoin-cryptocurrency-currency-2643159/
I'm not so broad in knowledge as regards the cryptocurrency, but I do know that it's been a great means of making money. I mean, even the richest men on earth transact with crypto.
As much as we all love seeing money, feeling it and spending raw cash, I've got to admit that the crypto currency has a tendency of a higher value than the physical currency.
The cryptocurrency is a digital currency which is verified as a means of exchange in the financial institution.
Even with the fluctuations that come with cryptocurrency, it's still one of the best if not the best way of preserving finance.
The reasons I prefer crypto to physical cash will be explained below.
First, there's the high level of security. I work in a financial institution, and I can boldly say that crypto is more secure than having cash or keeping your money in the bank. Except you leak out your private questions to someone,there is no way it can be tampered with. Even if you forget your private keys to your wallet, it's as good as saying bye to your funds. So it makes you really conscious of your funds.
To buttress the security advantage, there are channels your transactions have to pass through to really verify that the actual owner of the wallet is the one carrying out the transaction.
Furthermore, there is the privacy advantage. Only you know what is in your wallet, no one else does. Only you have strict access to your wallet. Only you can view and see what you have. Trust me, there's the feeling of having utmost privacy.
The advantage of accessibility is a major one. You do not need to visit any institution, just have a phone, a strong Internet and know your keys and you can easily access your wallet. It is faster compared to the procedures of opening a bank account, or visiting the bank.
Transparency which most financial institutions lack is present in cryptocurrency. Your transaction status becomes apparent immediately. If failed it's stated, if successful , also stated.
The fact that you can easily convert your cash to crypto and vice versa is one major advantage. So yes, cryptocurrency is way better and more reliable than physical money.
Thank you for reading.
