The use of cryptocurrency has been on the increase over the past decade. In the tear 2017 for example, Bitcoin becomes popular because it strengthened on a daily basis over the United States dollars. The cryptocurrencies make use of the blockchain technology which helps in safeguarding its usage and safety.
We have different types of cryptocurrencies which various digital marketers use for trading. Since many people are in search of knowledge about cryptocurrencies, some top universities in the world have started offering the online courses about cryptocurrencies.
Fraud
When it comes to the digital transactions, one of the major concerns is usually a fraud. We have individuals who steal other people’s credit cards and use them in the dark web for various criminal activities. The PayPal fraud charges have also been on the rise with some clients issuing what is referred to as the chargebacks.
Some sellers usually demand chargebacks after getting goods in the perfect condition. If you have an online business, then it is critical that you use the cryptocurrency to accept payments from your clients. The digital transactions in the cryptocurrency cannot be reversed at will by the buyer without consulting you.
Identity Theft
Another common problem that many digital transactions face is the identity theft. When you use your credit card to pay for some service, the merchant can capture some of your details. Some unscrupulous merchants have gone ahead and created similar names to their clients so that they steal from them.
The difference between the credit cards and cryptocurrency is the primary reason as to why one is great when it comes to the prevention of identity theft. Cryptocurrencies use the push mechanism that only allows the account holder to send the exact amount of cash to the merchant.
Immediate Settlement
Whenever you get involved in any business, there is usually a need for prompt settlement once all the parties have been satisfied. When you are purchasing property, for example, we typically have other professionals who facilitate the purchase process.
There is need to pay all these individuals immediately once the transfer is done. Some traditional methods of payment and even digital might take days to clear especially if the amount of money that is involved is crazy.
Global Access
Last but not least, the cryptocurrency is accessible to individuals in all parts of the world. Unlike some digital payment platforms which are directly controlled by some governments, the cryptocurrencies are not controlled at all. This gives users from different parts of the world an opportunity to trade using this method.