Percieving crytocurrencies as 21st century curriency is a fact which can't be over emphasised irrespective of market uncertainty.
Meanwhile, considering the following fact bellow; Security:
Cryptocurrency systems are based upon cryptographic security and cryptography. What this means is, rather than ‘trusting in the bank’ and its I.T department to keep your money and banking details safe, when you invest in cryptocurrency, you’re trusting in ‘the math’. This security means that it’s highly unlikely your account will ever be compromised.
Anonymity & Privacy:
While once an attractive advantage to those on the ‘dark web’, the pseudonymous nature of crypto is still a plus to everyday investors and traders.
This pseudonymous feature is a benefit which ultimately means that neither a transaction nor the accounts to which they’re sent, are ever connected to real world identities. Once a person is given the crypto address it is almost impossible to track it to them. The addresses are seemingly random chains of around 30 characters. While it is usually possible to analyze the transaction flow, it is not necessarily possible to connect the real world identity of users with those addresses
cryptocurrency transaction feesTransaction Fees:
Cryptocurrencies are made more advantageous by the fact that they involve lower fees than any other money transaction processes. Usually there are zero, or very low transaction fees for cryptocurrency exchanges because the miners are compensated by the network.
Use & Barrier to Entry:
The joy behind cryptocurrency is that, unlike some traditional investment methods which are difficult to jump into, investing in crypto is easy, permissionless and accessible to trade with 24/hours a day.
Portability:
Ever tried carrying a large amount of money abroad? Well, we haven’t, but we understand in certain jurisdictions it’s difficult, if not sometimes impossible. Cryptocurrency solves this issue, these currencies are easily and legally portable.
Fast Speed of Transaction:
No Debt:
Unlike the normal banking system, cryptocurrencies have no debt but are the bearer. This is to say that the Fiat-money on your bank account is created by debt.
Controlled Supply & Low Inflationary Risk
Many argue that cryptocurrency trumps FIAT currency like USD and GBP for one key reason – quantitative easing. Most cryptocurrencies operate under controlled supply, which means no ‘printing of money’. In Fact, networks limit the supply of the tokens even in cases where the demand is high.
However, the future of steemit is so bright to stand the test of a strong 21st century currency if not the best.
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