Although more and more fiat currency-based payment systems have various utilities and payment methods, cryptocurrencies are added Adding to the payment portfolio may provide consumers and merchants with some unique advantages. These include simpler, lower cost, higher security, privacy, and personal control over their assets.
Token (digital encryption currency) has many types and functions. It can be used as a personal bank account and payment card on almost any occasion, helping users protect sensitive data.
For a while, some foreign financial institutions gave those who chose to invest assets Those who enter an institutional account offer many rewards. But today, all kinds of bank accounts, as well as debit cards and credit cards, will have costs associated with them, without any benefit, let alone the interest earned. There are debit and credit card fees, ATM fees, merchant fees, checking account fees, overdraft fees, paper fees, check fees, transfer fees, change fees, refund fees, foreign transaction fees, minimum balance fees, and other miscellaneous expenses.
In contrast, popular cryptocurrency payment gateways like Bitpay and Coinpayments charge between 0.5% and 1% per transaction. In most cases, cryptocurrency accounts in the form of digital wallets are completely free, and apart from transaction fees, there is almost no usage cost.
2. Sensitive data
Banks and credit institutions, retailers and Service providers have acquired and kept too many customers’ personal and financial information. The detailed information includes our name, address, ID number, net worth, assets, investment, account balance, credit score, credit limit and transaction history, as well as all the things we do and purchase, our associated personnel, time, location, Including our personal, professional and financial data sets. With traditional financial institutions and traditional legal tender, we can no longer protect our privacy.
Cryptocurrency transactions provide an alternative by limiting the amount of transaction data to only the number of cryptocurrency wallet addresses and transaction IDs that confirm the occurrence of wallet-to-wallet transactions . Yes, personal financial privacy is preserved to the utmost extent.
3. International payment
Cryptocurrency is a kind of borderless The exchange method can realize instant and cost-effective transactions on a global scale. There is no waiting, no international fees, and no restrictions on who can or cannot send funds to whom, when, where and where they can be obtained. All that is needed is an Internet-enabled device, such as a mobile phone. People who cannot access banking institutions can get an alternative solution through which they can pay bills, earn income, safely keep funds, buy and conduct business .
The use of cryptocurrency during travel can add extra security and can be used as a remote source of emergency funds without the need for ID cards, bank accounts, credit cards, wire transfers or personal Computer equipment can be accessed.
Accepting cryptocurrency online has never been easier . Merchants can choose to accept BTC, BCH and other tokens. Suppliers can also use plug-ins, allowing customers to choose to use dozens of cryptocurrencies. Trading will become very convenient.
5. No refund
Some customers make purchases, receive the goods they ordered, and may even only use They cancel the payment. They can do this because legal payments are not instant.
For cryptocurrencies, the situation is completely different. Once a transaction occurs, there is no turning back. Funds "travel" from one wallet to another, and the transaction is recorded and cannot be reversed. This is not to say that customers cannot return goods and request a refund by communicating directly with the supplier. Of course they can. Due to the refund policies regulated by online payment processors and credit card companies, what they can't do is place an order, pay, receive, and then get the amount they paid on the account.
Mobile payment has been all the rage. It is very convenient to be able to use a smart phone instead of a credit card. From Paypal and Apple Pay to Mastercard's Paypass and Visa's Paywave as well as Near Field Communication (NFC) technology and modern POS terminals, getting checks has never been easier. However, the same privacy and security issues as other traditional statutory-based financial transactions have also emerged, that is, there is too much data in one place. All currently available mobile legal payment processors store credit card information, including all our financial information, etc. Not to mention that all data is online and can be seen everywhere on our mobile devices.
Encryption currency is a more secure digital cash option. Due to its virtual and decentralized nature, it is an ideal choice for mobile payments by default.
7. Growing market
Bitpay is the most successful encryption One of the payment gateways, processing transactions worth $1 billion per year at a rate of 250,000 transactions per month. Coinpayments has provided services to millions of providers in 200 countries and has just integrated with Bittorrent to provide its 100 million users with the option of using BTC and altcoins to pay. Coingate provides services to 50,000 merchants and handles hundreds of thousands of cryptocurrencies. Utrust has just cooperated with Payrexx and its 10,000 European merchants.
More integration and cooperation between cryptocurrency payment processors and fiat payment processors is underway, and the market is expected to grow by 50% in the next two years. In particular, Foton Motor announced plans to attract 100 million users by 2020 and provide competitive features, including its own stablecoin, Fiat matching, atomic swap, loan and custody services, and payment cards with loyalty rewards and cash back.
There is no doubt: millions of businesses all over the world accept cryptocurrency, and so do thousands of websites.
8. Commercial use
It is estimated that there are about 2000 Ten thousand people own cryptocurrency. Most people have heard of Bitcoin, and many plan to add it to their portfolio.
Square is a credit card payment processor that provides services to merchants, employers and mobile payment users. It is gradually surpassing Paypal while increasing its profits through BTC sales. Most of Square's merchant customers expressed interest in accepting Bitcoin Core. A 2017 Cambridge Alternative Finance Center study confirmed that 40% of consumers really want to be able to buy with BTC.
Countries with weaker than average French currencies tend to use cryptography. Turkey, Venezuela, Brazil, Australia and South Africa seem to have a large number of cryptocurrency users. In fact, up to 80% of Australians want to use cryptocurrency for daily shopping. Merchants in small towns in Eastern and Western Europe seem to be more inclined to increase Bitcoin as a payment method. Even before the cryptocurrency bull market in 2017, more than 10% of Eastern Europeans reported using cryptocurrencies instead of fiat currencies for daily purchases.
But in the end, I have to admit that in China, we still use
It’s easy to come, maybe, encrypted digital currency is a good opportunity for foreigners to stand up and take control, so don’t worry.
Real-time holding graph of 3 major exchanges
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Scheduled investment platform: OKEx
Regular investment amount: 50USDT
Mainstream currency: BTC, BCH
Platform currency: OKB
Although Bitcoin can rebound from time to time in the past few days, it is clear that this is only the main method of bursting. At 6 o'clock this morning, Bitcoin broke the support level of 3350 and came directly to the position of 3303.
The air force is gaining momentum. 3500 has become a strong resistance level. Unexpectedly, BTC will continue to bottom out. Now let’s look at the positions of 3300 and 3000. Those who have heavy positions should not rush to cut their meat. They can wait for a wave of rebound to lighten up their positions. The number of short orders in the market has reached a historical high. The main force should burst a wave. Reap the following short orders. Beware of risks!
Investment is risky, you must be careful when entering the market
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