By Lauren Veit
Cryptocurrency has never been more popular than it is today and now many businesses and customers are using this type of currency to pay for products and services. People are now including cryptocurrency as part of their investment portfolios and many are enjoying fantastic returns in a fairly short space of time. We are all looking for a way to prepare for our retirement years and we can’t rely on our government pension to be able to take care of us as we get older. We also want to be responsible when it comes to taking care of our extended family members and so cryptocurrency seems to be able to offer us quite a number of solutions.
If you are thinking of diversifying your portfolio and spending some of your hard-earned cash on cryptocurrency then it’s common sense that you want to use cryptocurrency accounting software so that you can keep an eye on all of your transactions and be in control at all times. There are so many great reasons why you should be investing in cryptocurrencies and the following are just some of those.
- Transactions happen quickly – Traditionally we have always used financial institutions to move money from one place to another but sometimes it doesn’t move fast enough, and we end up losing out on business opportunities as a direct result. Cryptocurrency on the other hand is really fast and many transactions can be completed in only a few minutes. When you compare that to wire transfers which will take one day or through a bank which will take 3 to 5 business days, there really is no comparison.
- Transaction costs are lower – When sending things like wire transfers, it can cost you a significant amount of money and that’s only sending it internally. If you want to send it outside the country, then you’re looking at spending even more money. Cryptocurrency transactions are much cheaper and so this is another reason to invest in them.
- Your funds are more accessible – Even if you have a healthy bank balance, it can sometimes be difficult to get hold of the money that you actually own. There are so many rules and regulations in place within the banking sector that sometimes you have to fight to get the money that belongs to you. No such accessibility issues arise with cryptocurrency and setting up a wallet is very fast and there is no need for a credit check.
You’re also assured of much more privacy when it comes to having a cryptocurrency account and when you make a transaction, there isn’t any information about you that can lead to your identity being known. It is also a lot more transparent and this helps to reduce the number of fraudulent transactions that happen when using the conventional financial system. Your crypto currencies are also protected from inflation and so this can only be seen as a very positive thing.
