Cryptocurrencies: Real Money or a Fad?

2017 is the entire year of crypto currencies. Bit coin jumped from the couple thousand dollars’ worth and shattered records by crossing the $20,000 mark. Ethereum’s Ether is more than ever. New currencies are popping up everyday and people are buying them in a frenzy.

So, are these codes of programming real money or even a fad that will die at time? Let us review:

Spending Less

Have you sent money to convert $200 somebody through banking channels? Different banks have different protocols, but have one thing in common: They also charge you for it. It’s true, you might say your bank provides you some fee transactions a month, however it places other restrictions where you’re made to pay for all those services that are particular.

With digital currencies like Bit coin and Ethereum, you still have to pay to transfer money to someone, but the trade”charges” you donate to miners are much lower than that which traditional banks provide you with.

SAVING TIME

Sending cryptocurrency to someone living in just about any region of the world is as easy as writing a message . All you need to do would be to request the recipient’s address, sign in your wallet and then send the desirable level. You can go around doing whatever you do in your ordinary life and the money is going to be transferred.

UNIVERSAL CURRENCY

Okay, so the title is misleading a little. There are a great deal of cryptocurrency available, and that means that you and the receiver might well not have the exact currency wallet. If the receiver is elastic (and you also have the persuasive power), he or she can install an electronic wallet for your money very quickly.

The most commonly accepted money is Bitcoin of course, should you’ve got it, then you won’t face any problem of different currency acceptance.

INVESTMENT

With financial emergencies every where and the inflation rate rising fast, you will one day realize that most those dollars you stored do not possess a lot of purchasing power in 10 years or so. The smart thing is to get them in something that won’t depreciate with time. Enter Cryptocurrencies! Mostly because of the way that these currencies are programmed, they’ll be very limited in circulation, unlike paper based currency where it is possible to just print more.

A very simple case of demand and supply will always make sure that cryptocurrencies will possess an ever increasing value.

So, there you have itCryptocurrencies aren’t really a trend in my own opinion. All you need to do is know which to purchase.

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