7 Reasons Why Cryptocurrencies are the Best Asset for Trading

Many individuals throughout the world believe that the current monetary system is too outdated and should be digitalized. The ideal way to digitalize the bank-controlled monetary system is to use a decentralized Currency, such as cryptocurrency. Cryptocurrency is a digital asset that may be used to purchase products and services both online and offline, with cheap transaction costs. Nowadays, Cryptocurrency Trading is one of the most popular ways to earn passive money online. In this article, we are going to cover 7 crucial advantages why Crypto Trading is more beneficial than trading other assets.

1. Low transaction fees

The major issue we have with other currency trading is the large transaction cost that the bank charges us in order to complete transactions. There are many fees that the bank charges us for a transaction such as processing fees, maintenance fees, annual fees, and so on. And when you have a lot of money transactions to make, this becomes quite irritating and expensive. On the other hand, cryptocurrencies are decentralized, so peer-to-peer transactions are made with lower fees. However, the wallets that we use to store the coins incur a small transaction fee, which is quite cheap when compared to fiat money transactions. This is a significant benefit of using cryptocurrency trading.

2. Confidential transactions

The cryptocurrency system is made up of algorithms that control the entire system, this is a huge benefit for Cryptocurrency traders because the transactions made by people are all confidential and cannot be seen by anyone, unlike the banking system which keeps a record of all the transactions you make online or offline. Also in all traditional systems, when you perform certain transactions, your bank information is occasionally made available to certain third parties, this is a big deal for some people who are concerned about their security and want to keep their transactions private.

3. Cryptocurrencies are inflation-resistant

Cryptocurrencies are the only trade asset that is inflation-resistant. Because there is no middleman in Cryptocurrencies, such as a bank or the government, most tokens do not experience inflation. This occurs because most tokens, such as Bitcoin, have a limited supply at a certain moment; for example, Bitcoin has a total amount of 21 million bitcoins that can be mined. Traditional assets, on the other hand, such as the money we use, are controlled by the banks and the government, which means that they can print more money whenever they want, causing inflation, which is a major disadvantage for these other assets.

4. Easy transactions

The procedure of processing transactions is way too difficult with the traditional systems, there is a lot of paperwork to fill out if you want to send money to someone in another country or buy anything all this is due to the fact that in other assets there is a middle-man which controls and approves most of the transactions that we make, for example, transactions that we make through banks take a lot of time to be processed and this sometimes can be very frustrating. But, thanks to the one-on-one on a peer-to-peer network structure of cryptocurrency, all of these issues are no longer present. Now, Cryptocurrencies allow the trader to send Crypto coins directly to the person they are conducting the transaction with.

5. Highly secure

Cryptocurrencies are quite safe when it comes to security. The platforms that allow you to trade cryptocurrencies have become so sophisticated and secure that even the most skilled hackers are unable to steal your coins. If you wish to open a wallet to keep your coins, the platforms will request that you provide documents such as your ID, passport, and so on. This demonstrates that trading with crypto is very safe. However, you should always be careful of the scammers that can be found all over the internet, since they may take all of your information and tokens.

6. Cryptocurrencies are the most profitable trading asset

Throughout history, cryptocurrencies have demonstrated their ability to hit all-time highs when the market is heated. The most popular growth of Cryptocurrencies is Bitcoin, which had a price of $6500 in March 2020 and an all-time high of $64,863 in April 2021, Ethereum‘s price in August 2016 was $11.26, and it has increased $4,362 in May 2021, representing significant long-term growth. Both of these examples are used to prove that Crypto coin’s prices may double in a short amount of time, such as 1 year, or even in a long period of time, such as 5 years. This profit that Cryptocurrencies may generate for you cannot be compared to any other trading method since only Cryptocurrencies have the capacity to generate these high profits in a short period of time.

7. Open for trading all the time

The cryptocurrency trading system is decentralized, which means that no one controls it and that it is open for trading 24 hours a day, seven days a week. Even though it is always open for trade, the market occasionally receives new updates that take time to fix. However, most other trading systems lack this feature, which is a disadvantage for them.

Conclusion

The main reason why Cryptocurrencies are blowing is innovation. The best example is Beyond.Protocol.  Beyond Protocol is defined as “High-Level Protocol” for the best communication node. Cryptocurrencies are an excellent asset to invest in if you want to make money in a short period of time. However, while Cryptocurrencies can be very profitable most of the time, they can also be tough and unpleasant to trade with due to the market’s ups and downs, but at the end of the day, even if you lose a certain amount of money, Crypto has the ability to double that amount in seconds, that why you should always keep in mind that you should stay calm and patient while trading Cryptocurrencies because if they have a huge downhill, they will almost always have an uphill after that, and the price will increase significantly generating you a lot of profit.