In the past few years, crypto currency has become a source of secure and anonymous money transactions. Crypto currency or bit coin currency has become popular worldwide since 2009. Crypto currency is digital money which does not require any person’s name or name of the financial institution for processing the transactions. At first, people used to fear this concept but in the recent past, it became a trustworthy means of money transactions. You may be aware of ether currency which is similar to crypto currency. Visit https://icosend.com/ to know more about the benefits of crypto currency.
Some of the benefits of using crypto currency are
• Free of fraud
The transactions using bit coin or crypto currency will be in digital form. So, you cannot reverse the transactions or manipulate this kind of currency like credit cards. So people began to trust this as a reliable means of money transfer.
• No delay in settlement
Transactions that involve a large amount of money in which a third party like third party or notary can be prone to delay. Sometimes, the settlements will take place with extra charges. Crypto currency transactions involve contracts with predefined inclusion or exclusion of a third party. So, the transaction processes are swift and settlements can be done at the moment without any delay.
• Transaction fee is less
Transaction fee for the exchange of bit coin currency or other crypto currency is zero. There will be nominal fee for transactions that involve a third party. These third- party persons or minors charge transaction fee for creating and maintaining crypto currency wallets. Some buyers, third party people or sellers of this currency may hire systems like Coinbase to manage the crypto currency transactions and these systems work like web -based exchange systems like Paypal. Visit the websitehttps://icosend.com/ for more awareness about crypto currency.
• Theft identification is easy
Crypto currency transactions do not require any additional information other than the amount of money to be transferred. So there will be less chance of theft or faking of this kind of currency. Unlike credit cards, digital currency transactions operate on “push” mechanism.
• Open access and decentralized mechanism
There is no centralized authority to control bit coin currency transactions. The block chains system that runs these transactions work on the peer to peer network mode of communication. Unlike conventional methods of money exchange, this currency can be accessed by the people worldwide without any regional barriers. This is a good source of extra income if you become a miner or investor.