How is Cryptocurrency Delivering Financial Freedom?
Cryptocurrency is getting popular with time as many investors around the world look towards it as the way to financial freedom. This remarkable characteristic of cryptocurrency is making things work for everyone because cryptocurrencies are decentralized currencies, and no financial institution can interfere with them.
Launched in 2009 as a substitute for bank transactions, cryptocurrency was an unpopular phenomenon worldwide. People were accustomed to Fiat transactions and using a digital currency with little knowledge was an alien concept.
However, things have turned quite remarkably in the favor of cryptocurrency and many investors across the globe are now investing in it. A better understanding of cryptocurrency has helped many realize that it is the best solution to avoid surveillance of the traditional financial system over wealth.
Let us explore how cryptocurrency is changing things around in the financial world.
What is Cryptocurrency?
Cryptocurrency can be defined as a digital or virtual currency supported by blockchain technology and completely online. It is an unregulated digital currency which means neither a bank nor any government can interfere with your crypto wealth.
Bitcoin (BTC) was the world’s first-ever digital currency when people came to know about the name of cryptocurrency. With time, BTC has come a long way and is now the world’s largest cryptocurrency by market capitalization.
You should know that cryptocurrency is not limited to Bitcoin as over 10,000 alternative coins or altcoins have been launched too in the last decade. Some of the popular altcoins including Ethereum, Tether, Binance Coin, and more are doing great on blockchain providing many an alternative to the existing conventional banking system.
Financial experts believe cryptocurrency is the future of money, thanks to its versatile nature and remarkable benefits that you can enjoy by becoming part of it. You can start your crypto investment through any of crypto exchanges even if you have one dollar in your pocket as there is no limit to investing in cryptocurrencies.
Carl Runefelt, alias, The Moon, is a global crypto leader who is pushing for the mass adoption of cryptocurrency.
He believes, “We will see a big catastrophe monetary disaster when the dollar and other fiat currencies ultimately collapse because I think that’s going to happen due to inflation. And then Bitcoin will rise as the solution. The only safe place I would say it’s like Noah’s ark in a way buying Bitcoin today. It’s like getting your tickets to Noah’s ark and when the flood comes, you’ll be safe and everyone else will kind of be washed away with the whole printing of trillions and quadrillions and quintillions soon.”
Incredible Benefits of Cryptocurrency
Cryptocurrency has already shown its potential of transforming the concept of money as people are more likely to hold digital currencies in near future. All this is happening because of the remarkable benefits of cryptocurrency which offer people financial freedom.
Here are some of the amazing benefits of cryptocurrency that you can enjoy.
Financial Freedom
Isn’t it amazing that you own an asset which provides you freedom from the traditional banking system?
Yes, this is achievable if you start using cryptocurrencies because they are decentralized currencies and no bank has any say in their management. You can use cryptocurrency openly on blockchain where its transactions are recorded on a publicly distributed ledger to ensure transparency.
In addition, you don’t have to be worried about the security of cryptocurrencies because they are protected by cryptography which consists of complex mathematical problems that are hard to break.
Quick Transactions
Sending money to someone can be a challenging process through a bank considering the lengthy paperwork, time delays, and higher fees. This is one of the biggest challenges of the banking system that people have been facing for years.
But cryptocurrency works in other ways and aims at providing complete financial freedom to its users. Cryptocurrency offers a procedure which makes quick transactions without any time delays, paperwork, and amazingly lower fees.
With cryptocurrency, you can send money to anyone at any time across the globe because blockchain is working 24/7.
Inflation Protection
You might have tried to save money for a long time but failed to do so because of the rising prices of goods and services. Inflation is a devastating character of the existing financial system from which many users suffer.
Now if you come towards cryptocurrency, you find a completely changed equation. Cryptocurrency has been designed to offer an inflation hedge to its users so that they can increase their savings.
Each digital currency comes with a limited supply including Bitcoin and you cannot surpass the limit. This remarkably increases the purchasing power of crypto users who can save more.
Conclusion
The financial world is transforming at a rapid pace and innovations are taking place each day.
Cryptocurrencies have proved themselves to be reliable investments for many reasons such as remarkable returns and financial freedom.
Now, it is in your hands whether you want to become part of a global financial revolution or stick with the traditional system and suffer from its drawbacks.