Cryptocurrencies will make it much easier for individuals to retain control over their finances with greater reliability and security than ever before. Crypto tokens use variations of encryption algorithms in order to verify and confirm the legitimacy of transactions.
Due to the decentralized nature of blockchains, it’s almost impossible for someone to fabricate a cryptocurrency transaction, add a transaction, or fabricate coins out of the ether. Messing with the transaction process is not easy.
Naturally, this makes them great currencies for eCommerce transactions. As a result, crypto tokens are theoretically the best monetary system ever invented. They have the potential to upend the financial system around the world.
Cryptocurrencies also retain many of the same benefits as plastic money or electronic funds cards, such as instant payment for goods and services, not having to carry your coins or bills around in a wallet, and more.
Even better, crypto tokens are stored in very secure digital wallets, so your coins can’t be stolen under most circumstances.
Globalisation has called for faster and more secure ways to store and transfer value. In many ways cryptocurrencies have answered this call and arrived to solve many issues inherent with the traditional financial system:
- international transfer and remittance
- fractional reserve banking
- the need for 3rd parties in commerce
- localised inflation of fiat currencies
CCS Wealth endeavours to bridge the gap in financial literacy by sharing quality content and producing resources to assist the further understanding of the digital revolution.