4 Reasons Why Traditional Currency Do not Want Cryptocurrency

September 24th, 2020 by

4 Reasons Why Traditional Currency Do not Want Cryptocurrency

Traditional currency has been there in all the countries all over the state since it’s a day of the invention. But wait, cryptos are new; it is literally as new as just ten years have passed by. We have been as digital as we are right now; it is a challenge for us to be digital and to work digitally.

Hence a digital currency has set in quite late in the world, and it is still much new to us. However, it is very subjective because many of us are well aware and well educated about bitcoin or cryptocurrencies while many are not. We humans, at least most of us, like to play everything safe; for us investing in bitcoin is really risky, but the investors are pro in taking risks. Many of the investors have taken this risk and found out the excellent result of it.

Hence it would be ideal to understand the position of both. I understand your dilemma; you are still not sure which one would be a better option. But that is why I am here, I will tell you the difference, and then you can choose it for yourself.

4 Reasons Why Traditional Currency Do not Want Cryptocurrency

There has always been a clash between traditional currency and Cryptocurrency, but what exactly is the kind of issue with both? I am here to tell you the difference between them both, and then you can choose the best one for yourself.

Anonymity

This feature is significantly the feature of digital currency and not that of a traditional currency. Hence it could be a positive thing for you and a negative thing for someone else. It completely depends on you and how you take it. But the anonymity is really good for many reasons; many people do want to send money and do not want to let anyone know. In fact, the anonymous kind of money will help you to do anything you wish to do with it, unlike the traditional currency, which you can not make like huge transactions and that too anonymously.

The cryptocurrency transaction takes none of your personal details and allows you to transact freely to wherever or to whoever you want to send your money to.

Accessibility

Your account will be accessible to you, and you can monitor it or use it anytime you want. You will not have to wait for anyone, or you will not have to seek any permission. Whereas if we talk of banks, we can access them under the surveillance of the authority and moreover you will have to answer to the government simply for using your own money for your own purpose. This seems really unfair; hence you can use your money wherever you want any for whatever purpose you want. You will not have to seek permission or answer anyone for it.

No Fraud

Fraud is comparatively lesser in digital currency than fiat currency. In the case of real money, it comes difficult to carry or take it anywhere you wish, which is completely possible if we consider bitcoin or any cryptocurrency. You can carry your Cryptocurrency anywhere you want, just on your mobile phone, and make payments where you get a stable internet connection. There is no way it can be stolen from your mobile or laptop unless you, too, carelessly give away your password to anyone unknowingly.

Low Transaction Fee

This attracts most of us in Cryptocurrency; how much ever money you transact using bitcoin, you will have to pay almost 0 amount of money. The transaction fee in the case of Cryptocurrency is almost negligible, and this attracts the users most. You can just simply use  Bitcoin and get to know what the transaction fees are like.

Conclusion

The above-mentioned pointers are the reason why the traditional currency is afraid of Cryptocurrency, and I think I have given you the reason why you think you should take up crypto.