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5 ways crypto offers freedom to do things you couldn’t

Cryptos is a fast-moving currency. No other financial model has provided more than 20% returns overnight. Bitcoin is the first crypto to enter the global investment market. The launch price of this crypto was $1 per coin. Today, the price of the same coin is more than $35k. Along with bitcoin, there have been other cryptos also that got global attention. Other than Bitcoin, today there are more than 4k+ cryptos. Bitcoin, Ethereum, Polkadot, Shiba, and Doge have been under scrutiny as well. With increasing interest in crypto, there is an increase in governance and regulation. Every government and the regulatory agency is monitoring cryptos.

Other than price benefits, cryptos also provide other benefits. There is increasing adoption of blockchain technology. Many companies have adopted this platform and technology for their business and services. Many financial institutions are adopting blockchain technology and decentralized finance. Many banks are hiring technical experts in blockchain platforms. As per a recent survey, more than 90% of banks have invested in the blockchain. This is the figure as of 2018 and this has increased since then. To know more about crypto trading visit thequantumai

Are cryptos under pressure from regulatory agencies?

Cryptos do indeed provide a huge number of returns. Price volatility and market fluctuations are an add-on to any crypto investments. Many countries have come up with regulations on this investment model. There is scrutiny at every level to ensure a reduced threat to the economic situation. To add, there is also news about hacking that gets circulated often. Despite all these, there are a few benefits of crypto investments.

Easy transfer of funds at reduced prices

Transfer of money from one account to another takes time. And it is difficult to transfer funds from one country to another. In the current scenario, it takes more than 03 business days to transfer funds from one country to other. Crypto is breaking this barrier. Cryptos are easy and can undertake transactions at reduced prices as well. Bitcoin takes lesser than 10 minutes to complete a transaction. A classic example of this is the recent fund transfer of Litecoin. A total transaction of $99 million was completed in less than 10 minutes. The total transaction charges to this were less than $1.

Decentralized finance and its many functionalities

This is the most talked-about advantage of cryptos. As against traditional currencies, there is no intervention from central banks. It is an open-source platform and works without any bank involvement. The investor has complete control of the transactions. This model also allows for easy peer-to-peer transactions. The decentralized finance model also makes it easier to develop decentralized apps. Additionally, Defi also makes ways for executing smart contracts.

Ability to tokenize physical assets

The very idea of crypto is its ability to convert virtual coins into physical assets. An investor can use the blockchain platform to list physical assets. Assuming an investor has real estate then a user can list the same as Initial Coin Offering (ICO). Global investors can then go about buying your physical asset in required units. A similar idea works handy if you are looking to generate funds for a start up.

Non-fungible tokens and gaming

NFTs are digital assets that are usually taken as crypto art or gaming. These types of tokens are available on the blockchain platform. Creators can use this platform to create and store their tokens. The benefit of NFTs is that an investor gains income every time a user purchases this token.

Underlying blockchain technology

There are several real-life uses of blockchain technology. Given the benefits, blockchain will become an integral part of everyone. Many financial institutions now invest in this technology. This platform allows users to have better control and security of transactions. Another advantage is the reduced charges on bookkeeping, maintenance and manpower charges. As per a recent survey, there will a savings of more than $20 billion per year. Blockchain technology can also support reducing risks on loans and credits. Instead of trusting third-party agents, blockchain can support executing smart contracts. Such contracts execute by themselves when certain condition adheres to.

Cryptocurrencies are here to stay and have the ability to replace traditional currency. It is a wait-and-watch situation.

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