Cryptocurrencies gain ground to credit cards

The ups and downs in the value of cryptocurrencies has moderately influenced investor preferences. Although many people may see crypto as a risk, they still prefer them to credit cards in countless transactions.

This trend is mainly based on the security and speed that users enjoy when paying or making purchases from their digital wallets. Bitcoin is the main crypto asset and although recently suffered a considerable decline, customers worldwide prefer to use it in their commercial activities.

Another reason to prefer cryptocurrencies to credit cards is that the opening of an account or registration in the platforms of these currencies is totally free. Those interested only need to have a device that has an Internet connection for access and then complete the steps to achieve an account.

Thanks to the blockchain technology, not only do banks and other financial institutions facilitate transactions of the traditional system, but also natural persons can also make payment for services, purchase and sale of items and send remittances safely, quickly and without payment of high commissions.

Cryptocurrencies have other advantages, such as the fact that only the user can authorize the transaction from his wallet, which he accesses with his password. This avoids manipulation by third parties. Additionally, the accounts are inviolable as opposed to the credit cards that are violated when obtaining the card number and the user’s data.

One aspect that the followers of the crypto market are grateful for is the lack of publicity that prevails in the traditional banking system when sharing customer data with the companies involved.

Finally, peer-to-peer technology is positioned as one of the characteristics of digital currency payments, since transactions do not depend on intermediaries.

M.Pino

Source: Bitcoin Journal