I know about crypto and everything in general but I am having difficulty to understand one thing about it. Why crypto or bitcoin is better than money ?
I mean I know the block chain technology is revolutionary and it has many benefits, it is being used by all crypto. Money is used to buy goods and services and there are very less businesses accepting crypto and still the prices are rocket High.
This Crypto trend looks more like share market company evaluation rather a legitimate currency. Moreover all government have there own currency, goverment cannot let that sink and can ban these. Can someone explain to me the value of Crypto as a currency when compared to real money ?
cryptocurrencies are better than traditional money because:
first, cryptocurrencies are decentralized which means it is not regulated by central authority, they cant be devalued or inflated by the banks unlike traditional money. second, millions of money units can be transferred at lightning fast speed while keeping the users anonymous whereas traditional money could take up days or even weeks, third, although there is a service charge for transferring the funds, it is much lower than bank rates, fourth, they provide total anonymity and digital cash is widely accepted in contrast to the local cash currency, fifth, cryptocurrencies cannot be destroyed or damaged as opposed to traditional money. hope that helped.