Fast and Easy Payments
If there’s one thing cryptocurrency deserves credit for, besides that it makes you a true owner of your money, it’s the ease it brings to electronic payments and transfers. Bitcoin has been around for over a decade now and it is not a tool only for the tech savvy anymore. A myriad of crypto platforms have made it simple to keep and send digital coins. It takes just a few steps to purchase your first cryptos and start spending.
All you need to have initially is a bitcoin wallet and plenty of free options are available. For beginners, a software wallet is probably the best choice and you can download and install a number of mobile applications or desktop programs. If you don’t plan to spend coins on a daily basis and in case you need a higher level of security for your crypto holdings, you’ll be better off with a hardware wallet – getting one is easy too.
With cryptocurrencies, sending money is quick, easy and inexpensive. You just need to have the recipient’s address, which you can either copy and paste in your wallet, making sure the first and the last few digits are the same, or obtain it through a simple QR scan as most wallet apps allow you to do so. After entering an amount, hitting the ‘Send’ button initiates an irreversible transaction; it’s a good idea to set up a spending PIN on your wallet as well.
Low Cost Transactions
Generally, crypto transactions are fast and cheap but the speed and the cost depend on various factors such as the number of transactions a network has to process at a given time and the fee you are willing to pay to the miners. Bear in mind that not all cryptocurrencies are made equal, so to speak. In the case with coins such as bitcoin cash (BCH), transfers are almost instant and often cost less than a penny. That’s regardless of the amount sent or distance covered. With crypto, payments, transactions, and international transfers are faster, easier and safer and you don’t have to worry about progressive fees or bank holidays.