Cryptocurrency acts as a digital form of currency that can be used as a payment method throughout the internet in various countries. Its popularity has increased so much that people are looking to invest in it. Which is a great way to earn from home online and generate an income funnel similar to a stock exchange. But how did such cryptocurrency come to be?
Well to answer that we have to take a look back at how has the medium of payment evolved through the year. At first, there was no money people used to exchange something that they owned to get something of equal value from another. After that, they began to use precious materials such as gold or silver instead of giving up something that they owned. Then came banks and introduced currency made out of paper. People started to use them. They trusted this because they were controlled by the government and were guaranteed by them that they were valid for purchasing. But over time people found it inconvenient to carry a large amount of money where ever they went thus came debit and credit cards. This was helpful not only did you have access to all your money but you didn’t have to carry them all the time. Lastly came cryptocurrency.
Though relatively new its popularity is on the rise and is quickly replacing many well-known payment methods that are used for transactions online. But why is it more useful than other methods?
Let’s look up a few benefits of it and try to understand why is it being implemented in various translation-enabled sites.
# Lower fees than credit cards
Unlike credit card payment which has to go through many processes and checkpoints every of which has to be paid several fees, for which a percentage will be deducted from your account which can be from 3% to 5%.
But on the other hand, cryptocurrency doesn’t have such a problem. The highest fee has to pay is from 0 to 1%.
# Not tied to a country
Being a payment system that only lives on the internet also in a decentralized way that is not controlled by any government makes it the perfect currency for which you don’t have to worry about the conversion of the currency country-wise.
# More secure
Now since it’s a digital payment the possibility of being hacked is quite natural. But gladly its security system is top-notch. Not only that it’s monitored by each owner personally also has a system of storing the payment info known as a ledger which though mining has multiple copies. So even if someone tries to tamper with one data they can’t do anything. Cause whenever there’s a transaction it matches it with all the ledger copies and if it’s found something changed in any way it will notify you ASAP.
Conclusion
These aren’t the only ones there are many more. And because of such reasons, many new sites like Streaming Plug have used it as a paywall for streamers to have more flexibility with their transaction account.
