Why cryptocurrency become better than other money?

Started by Ryar, Jul 29, 2022, 01:49 AM

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RyarTopic starter

The public has demonstrated a clear affinity for cryptocurrency and is willing to invest in it. What are the reasons behind this trend? How has cryptocurrency surpassed traditional forms of currency?
Additionally, what are the possible applications for cryptocurrency and how can one prevent losing it?


If cryptocurrency maintained its inherent qualities but had a consistent value without a rise in price, it would still be widely utilized as a digital pocket.

Consider the significance of having a digital pocket that is exclusively yours, where you don't need permission to make purchases or access your funds.
Although the rising value of cryptocurrency is an added benefit, it is merely a supplementary effect.


Now it is especially clearly visible what it is better. Funds on a crypto wallet cannot be frozen or withdrawn. Neither by decision of any government, nor the US Senate, nor the court, nor anyone at all. This crypt is more reliable than the dollar, ruble, yuan and any other currency in general.


The main and significant advantage of cryptocurrency is its decentralization. That is, there are no barriers and boundaries in transferring it between people. Also the possibility of full and anonymous ownership of assets and the lack of control by the state.

Я И Бал Крассавиц

For me, cryptocurrency is the future! Do you know why? Personally, I think that cryptocurrency is very mysterious at first glance (for beginners). After studying you will get more knowledge about this trend. It's no secret to anyone that it's time to switch to freelance, online work (I'm talking about trading).



Some will consider this approach to investment too risky, however, if you look closely, there are a lot of opportunities and options for investments and diversification within cryptocurrencies, and protected from the effects of sanctions. However, when working with this asset class, you should always keep in mind the volatility and high risks.


In 2022, Bitcoin was commonly compared to precious metals like gold due to its limited emission. Bloomberg analysts claimed that cryptocurrency is no longer just a speculative asset but a digital version of gold. One key difference between the two is that gold reserves are naturally limited while Bitcoin is coded to produce only 21 million coins.

Bitcoin is more convenient as a means of payment, according to Stanksevich, because it can be transmitted across the globe in seconds while tracking the transaction. Many institutions are starting to view it as a protective asset. Artem Dseev emphasizes that BTC has other advantages such as no additional costs for storage and increased security, making it difficult to steal. It is also divisible, something not possible with gold bars or expensive coins. No one has control over Bitcoin, unlike gold, which can be frozen by authorities.

Bitcoin is often compared to the US dollar due to limited issue, something the US currency does not possess. The US response to the COVID-19 pandemic through quantitative easing has led to increased money supply and a depreciation of the dollar, while Bitcoin has strengthened in response. Stanksevich believes that Bitcoin has several advantages over the dollar, including a lack of centralized issuer, decreasing inflation, and a finite quantity. Mazur, head of the data analysis department at CEX.IO Broker, states that Bitcoin is not subject to devaluation like the dollar and commodity price increases lead to an increase in its purchasing power.


First of all, decentralization is a big draw. People are attracted to the idea of not being reliant on traditional banking systems or government control. The potential for high returns on investment is also a major factor – everyone wants to get in on the next big thing. Additionally, the technology behind cryptocurrencies, such as blockchain, has been touted as revolutionary and has garnered a lot of interest.

Cryptocurrencies have surpassed traditional forms of currency by offering faster and cheaper transactions, borderless accessibility, and increased security. This has made them appealing for both personal and business use, especially in international transactions.

When it comes to possible applications, the sky's the limit! Cryptocurrencies can be used for peer-to-peer transactions, smart contracts, decentralized finance (DeFi), and even non-fungible tokens (NFTs) for digital art and collectibles. As for safeguarding your crypto, using secure wallets, employing two-factor authentication, and being cautious with online transactions are key steps to prevent losing it.

One of the key factors driving this trend is the desire for financial inclusion. Cryptocurrency offers an opportunity for people who are excluded from traditional banking systems to participate in the global economy.

Moreover, the transparency and immutability of blockchain technology make it a compelling alternative to traditional financial systems. The ability to track transactions on a public ledger provides a level of trust and security that is often lacking in traditional financial institutions.

In terms of surpassing traditional forms of currency, cryptocurrencies have the potential to bypass intermediaries, such as banks, in financial transactions. This not only reduces transaction fees but also increases the speed of transfers, especially across borders. Moreover, the fixed supply nature of many cryptocurrencies, such as Bitcoin, can offer protection against inflation, a concern associated with fiat currencies.

Looking at the applications, beyond financial transactions, cryptocurrencies have the potential to revolutionize various industries. For example, blockchain technology can be utilized in supply chain management, voting systems, digital identity verification, and even in the healthcare sector for secure and transparent data sharing.

As for preventing the loss of cryptocurrencies, using hardware wallets or cold storage solutions can provide an extra layer of security. Additionally, being cautious of phishing scams, keeping software up to date, and practicing proper private key management are crucial measures to prevent loss.

The enthusiasm for cryptocurrency is driven by its potential to transform finance and beyond, and as the technology continues to evolve, its impact on various sectors is likely to grow even further.