Digital Currency

Five Benefits Of Paying With Cryptocurrency

Women sat at desk with laptop raising arms in the air and looking happy

A couple of years ago you may have been hard-pressed to find a merchant accepting cryptocurrency – but these days there are lots of shops getting in on the action, including many mainstream companies.

This is great news for fans of crypto, as there are many benefits to choosing it over cash. Here are a few reasons why you may want to consider dipping into your digital wallet next time you’re given the option:

You’re in control of your money

Cryptocurrencies like bitcoin put the users in control of their own cash. This means that you’re not subject to the regulations or risks that come alongside traditional banking. We have all seen the consequences of banking crashes over the past few decades, and those who want to manage their money in an alternative way now have the option of paying with crypto. While the number of online sellers accepting cryptocurrency is currently still limited, the more that we choose to use these payment options, the more we’re likely to see them adopted by others.

Avoid paying transaction fees

If you’re making a big purchase or sending money abroad, then paying with bitcoin can help you to avoid the fees and exchange costs. This is one of the major advantages that cryptocurrencies offer over more traditional currencies, and has been one of the driving forces for their speedy adoption over the past few years.

Move your money almost instantly

Another issue for those spending larger sums of money is the amount of time it can take for a transaction to clear. In some circumstances, we want our payment to be received by the retailer instantly, and paying with cryptocurrency makes that possible. Because there aren’t as many lengthy authorisation checks, you can get your money over to the recipient pretty much straight away.

Prioritise your security

Assuming you have taken the correct security precautions, it is very difficult for hackers to steal cryptocurrency from another person’s digital wallet. This means that transactions made using bitcoin are considered particularly secure, and a solid option for anybody who worries about their privacy. The cryptography used to secure cryptocurrency also means that it is extremely difficult for fraudsters to produce fake coins or to ‘double-spend’ (i.e. to use the same digital token more than once).

Protect your identity

Transactions made via bitcoin are what’s known as ‘pseudonymous‘. This means that, while not technically anonymous, you have a layer of protection preventing much of the identifying information that’s exposed during a regular banking exchange from being shared – things such as your IP address, for instance. Again, this can be seen as a huge benefit for those who are security conscious, or for anybody who worries about the amount that their identity is being tracked and traced online.

Does paying with cryptocurrency sound appealing to you? You could consider growing your funds using a crypto trading app such as Stock Master. Although trading is not a guaranteed way to make money, it can often generate generous profits – and trading apps will help to ease you in to the process. Go to the Stock Master login page to get started.

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