Friday, July 27, 2018

Benefits Of Cryptocurrencies Today

A lot of news and online buzz around cryptocurrencies revolve around their price. But what people seem to misunderstand or fail to even ask is why cryptocurrencies were created in the first place. Here are some of the benefits cryptocurrency usage can bring today.

Image source: cryptodisrupt.com

Cryptocurrency is a digital currency created from code. So unlike traditional forms of payment, committing fraud using cryptocurrencies is impossible. Likewise, it cannot be counterfeited. It is also not possible for it to be reversed arbitrarily by a user.

Purchasing cryptocurrencies happens immediately. It does not go through a bank, a waiting period, third party approvals, nor does it include payment fees. This makes digital transaction fast, uncompromised, and direct from one person to another.

Traditional credit cards operate through a pull mechanism where an establishment gets an amount from a user’s bank account. This opens up space for faulty transactions and even identity theft. Cryptocurrencies operate using a push mechanism where users can send exactly what they want to send to a merchant.

Cryptocurrencies are managed by blockchain technology that manages and records all cryptocurrency transactions. They are governed by networks and not one authority. This decentralization means users can make transactions on a peer-to-peer basis as opposed to using third parties like banks or remittance centers.

And since cryptocurrencies are digital, anyone from the billions of people who have internet access can use them. This can help people who do not have traditional ways of making or receiving payments.

Image source: wired.com

Ormeus Coin by Ormeus Global is a new digital money system built on Ethereum. It is backed by a fully-audited $250 million industrial crypto mining operation. Learn more about cryptocurrencies by visiting this blog.

7 comments:

  1. Thank you for sharing this information.
    CoinOrbisCap is the best user-friendly financial app who take digital currency seriously. Gives you quick access to crypto prices, market cap, coin chart, crypto news on over 1500 currencies.

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    ReplyDelete
  2. Thank you for sharing this information.
    CoinOrbisCap is the best user-friendly financial app who take digital currency seriously. Gives you quick access to crypto prices, market cap, coin chart, crypto news on over 1500 currencies.

    Download here for FREE!!

    ReplyDelete
  3. A great piece that sheds much needed light on some of the great theoretical/ideological debates in the contemporary crypto space. At CleanApp Foundation, we appreciate the emphasis on pragmatism, and emphasis on Blockchain/DTL/Crypto projects that offer real social utility. Looking forward to engaging more with your crew!

    ReplyDelete
  4. A great piece that sheds much needed light on some of the great theoretical/ideological debates in the contemporary crypto space. At CleanApp Foundation, we appreciate the emphasis on pragmatism, and emphasis on Blockchain/DTL/Crypto projects that offer real social utility. Looking forward to engaging more with your crew!

    ReplyDelete
  5. Thank you for sharing this information.
    CoinOrbisCap is the best user-friendly financial app who take digital currency seriously. Gives you quick access to crypto prices, market cap, coin chart, crypto news on over 1500 currencies.

    Download here for FREE!!

    ReplyDelete
  6. Blockchain Technologies (blockchaintechnologies.com)
    Blockchain Technologies is a huge static content website that covers practically every single question you might have about blockchain. Additionally, the site also has a news section where stories from the largest cryptocurrency news blogs are gathered.
    I added this site to this list of the 27 best cryptocurrency blogs for three main reasons. The first is that the content is absolutely amazing. It is very obvious that the writer spent A LOT of time researching about cryptocurrencies. Secondly, the UI of the website is astonishing. The colors are very well picked, the site charges in the blink of an eye and it is completely responsive. And finally, although the Blockchain Technologies blog has a couple Ads, it is very clear that the main objective of the site is to inform, and not to just make money with visitors.

    ReplyDelete
  7. Blockchain Technologies (blockchaintechnologies.com)
    Blockchain Technologies is a huge static content website that covers practically every single question you might have about blockchain. Additionally, the site also has a news section where stories from the largest cryptocurrency news blogs are gathered.
    I added this site to this list of the 27 best cryptocurrency blogs for three main reasons. The first is that the content is absolutely amazing. It is very obvious that the writer spent A LOT of time researching about cryptocurrencies. Secondly, the UI of the website is astonishing. The colors are very well picked, the site charges in the blink of an eye and it is completely responsive. And finally, although the Blockchain Technologies blog has a couple Ads, it is very clear that the main objective of the site is to inform, and not to just make money with visitors.

    ReplyDelete