Top 10 reasons for moving to cryptocurrency payments in 2019

Cryptocurrency is turning into a traditional monetary resource that everyone will use one day to make transactions. Powered by resilient and secure blockchain technology, cryptocurrency has achieved applications in every aspect of the global economy. Here are the top 10 reasons why you should consider switching to cryptocurrency payments in 2019.

1. Incredibly low rates

Cryptocurrency payments are associated with incredibly low rates compared to fiat currency payment platforms. The commissions payable for legal money transfers may be up to 10% of the transferred portfolio. With cryptocurrencies, however, transaction fees are generally reduced.

Consider a fiat money transfer involving $ 600 million. With existing services like SWIFT rates can go up to $ 30 million. On the other side with cryptocurrencies that transfer $ 600 million worldwide attracts only a $ 1 commission.

2. Privacy

Cryptocurrency transactions do not require users to declare their identity. Transactions can be performed anonymously. Unlike transactions involving banks, with cryptocurrency, it is not necessary to register and verify your national identity card and other sensitive data.

Governments tend to tax all financial remittances to a country, regardless of how small the transactions are. With cryptocurrency transactions, these unnecessary costs can be offset. Maintaining privacy information during monetary transfers is vital for some people who prefer high levels of anonymity.

For transactions that require physical delivery of goods or services, the customer can only provide the address. This still saves you a big problem associated with sharing the whole biodata, as happens in the banks. However, to make this type of agreement as close as possible, the customer must use Bitcoin or altcoin.

3. No international borders

Cryptocurrencies do not obey any boundary. Convenient instant transactions can be performed virtually from anywhere in the world at any time. Unlike banks and legal currencies, cryptocurrencies do not attract any international commission or attract any limitation on transaction amounts.

The use of cryptocurrencies is not accompanied by the long list of annoying requirements required by banks to new customers. Basically, an Internet-enabled smartphone is enough to connect millions of dollars all over the world in an instant. On the other hand, cryptocurrencies provide a good way to keep your money on the trip.

It is expensive to save money in an international bank account and many nations limit the amount of money you can carry around legally. Cryptocurrency is useful when you want to buy a property abroad and do not want to spend a good portion of your money in taxes.

4. Advanced eCommerce

Buying and selling on the web has never been easier thanks to cryptocurrencies like BTC, BCH and Altcoin. Traders who sell items on platforms such as Amazon, Shopify and Etsy merchants may choose to accept cryptocurrency payments. Although Amazon does not support the cryptocurrency itself, there is Purse.io a platform where users can buy anything on Amazon in cryptocurrencies.

There are other very surprising platforms out there that bridge the gap between cryptocurrency payments and online stores. Some of these platforms include Magento and the open bazaar. The advantage with cryptocurrencies is that they are very simple to use and commissions on transactions are generally very low compared to the fiat counterpart.

5. No back charging

The nature of the fiat payment system allows some customers to intentionally delete their orders after the item has been delivered. This is simply because fiat payments are not instant. Worse still the customer may have used the item in some way before canceling the order and returning the item to the store.

The cryptocurrency transactions are immutable, which means that once the transaction has taken place, you can not go back. The travel of funds from one portfolio to another, the transaction records and can not reverse the route. This does not mean that a customer can not return an item and request a refund by communicating directly with the seller.

Of course, they can. What they can not do is place an order, pay it, receive it and then get the amount they paid on their account. Because the money return policies are controlled by online payment processors and credit card companies.

Meanwhile, chargebacks mean preventing fraud, they often achieve the exact opposite. In this case, cryptocurrency works the same way as cash. After taking the item paid with cash, you can not return to the store with a damaged or used item, it does not matter with empty hands, and you ask for your money back.

6. Portability

Cryptocurrencies continue to function on a blockchain, an early record arrangement that is shared in a distribution system. Encryption exchanges can be performed from mobile phones, tablet PCs or PCs that are very convenient. Cryptocurrency exchanges have become extremely popular. Having the ability to use a cell phone instead of a Mastercard is outrageously advantageous.

From Paypal and Apple PayPass to Visa's Mastercard and Paywave with field matching innovation (NFC) and today's POS terminals, getting control has never been simpler. But similar security and security issues emerge in the same way with any usual residual, fiat money exchanges, in particular, an excessive amount of information in one place.

All now accessible portable installer processors can store debit card data that incorporates most of our money data and that's just the beginning. Moreover, all that information is on the web and on our cell phones wherever we go.

Cryptocurrencies are a safer economic alternative and are perfect for encryption exchanges, thanks to their virtual and decentralizing nature.

7. A growing market

The major cryptocurrency platforms like Bitpay manage billions of dollars each year of encrypted transactions. He reports that the cryptocurrency trade handles monthly more than a quarter of a million dollars in the volume of transactions.

Another popular exchange, Coinpayments serves more than 200 countries and recently bought BitTorrent a move that added another 100 million customers to their customers. Exchanges like Coingate manages over 50,000 traders and manages millions of cryptographic transactions.

Recently the cryptocurrency payment processor Utrust has formed a partnership with the cash payment company Payrexx do to provide cryptographic services to more than 10,000 European shippers.

This briefly how big the cryptocurrency market is. Many other cryptocurrency platforms are collaborating with fiat money companies. This is a positive move to further expand the cryptocurrency industry as a whole.

8. Commercial use

Research shows that over 20 million people worldwide use cryptocurrencies. Another 10 million people have known cryptocurrencies for some time and would consider them to possess them at any time in the near future. Cryptocurrencies are rapidly gaining business use cases.

Square Square uses cryptocurrency similar to how credit cards work. Square, an eminent competitor of PayPal, uses Bitcoin as an additional payment option. According to recent research conducted by the Cambridge Center for Alternative Finance, over 40% of buyers agree that we would gladly adopt bitcoin as a means of payment.

9. A good investment

Bitcoin is one of the best investments for a number of years. Since Bitcoin has a limited supply, which is steadily declining, and at the same time its demand continues to increase, its price naturally tends to appreciate.

For example, bitcoin was worth around $ 1,000 in early 2017. As of 2018, the bitcoin is worth $ 3600 and represents a profit of around 400% for those who invested in bitcoin at the start dell & # 39; year. Because bitcoin is still in its infancy, it is still growing at a rapid pace. Despite the high volatility associated with any new investable asset, it offers an extraordinary investment opportunity and is one of the answers to why bitcoin is increasing.

10. Offers security in an unstable global economy

He has already experienced some really difficult economic times. The worst of the most recent was the 2007-2008 financial recession that led to the Eurozone crisis, the Greek debt crisis and the Italian banking crisis.

Despite the fact that the global economy is slowly stabilizing, it is still very rude to assume that another crisis will not hit in the next decade. If the worst were to get worse, Bitcoin could offer a safe haven against loss of fortune. This is because Bitcoin is not directly linked to the global economy.

In case we forgot to add other fantastic reasons why you should use cryptographic payments in 2019. Do not hesitate to add your point in the comments section below.

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