Most people today ask themselves why bitcoin and altcoins are needed, what are the advantages of a cryptographic currency and what are the prospects for their development? We have prepared for you a list of key characteristics and properties that perfectly emphasize virtual coins over fiat money jaxx online.
Low transaction fees
Commission fees are independent of the volume of cryptographic currency that users transfer within the system. The commission was introduced only in order for a certain group of people, miners, to complete transactions and support the blockchain of the crypto platform. Any banking operations load the network, and solely for a fee, people are ready to support the system using the computing power of a PC.
Also, crypto platforms do not charge any subscription. fee, and there are no limits and restrictions inside blockchains.
Round the clock operation
Transfer money wherever you want, anytime without any complications. If you need to transfer money in the middle of the night on a holiday, the funds will reach the recipient in a couple of minutes. You will not record any delays, as in the banking system.
Money transfers can be delayed by 5 business days - this is uncomfortable, and in addition, you have to pay a transaction fee. Cryptocurrency platforms transfer money instantly. If you need to make a large transfer of funds, it is better to wait for several blockchain confirmations, which takes 10-20 minutes. This will provide the highest level of security.
Reliability and security of cryptocurrencies
Cryptographic currency networks use encryption algorithms that protect users' personal data, as well as information about transactions of network participants. Similar algorithms are used by the banking system, however, banks are often susceptible to hacker attacks.
It is also necessary to remember about the anthropogenic factor, because in a problem situation, a person is capable of much. For example, a bank manager can drain the customer database for money, and then you receive an SMS that the card is blocked, because there was an attempt to purchase some game, product or service on the left site. The blockchain is protected from anthropogenic factors.
The total capacity of the bitcoin network back in 2012 increased the performance of the most powerful supercomputers on the planet. Cryptographic currencies have a number of advantages:
Regular sending of funds to users.
There is no need to verify your account.
Cryptographic currency is not depreciated and cannot be printed or added to the system.
Smart contracts, multisignatures and other achievements of the sorcerer wizard-technologies for the convenience of enterprises and ordinary users. You can transfer money with a guarantee of receipt, for example, when several confirmations are required from the rest of the platform participants to complete the transfer. Smart contracts make it possible to create mathematically difficult conditions for conducting transactions.