Money Transfers
Crypto-currencies don’t have to go through third parties.
All transactions are direct to the other party and get logged onto the blockchain.
- No or very low fees
Due to lack of third parties, there are very few fees. Miners (who run the system) are compensated by mining currency as they complete transfers.
- Fast International Transfers
Crypto-currency transfers are much faster than traditional methods because you only go through a few computers rather than several companies, banks and governments.
- Very accessible
Approximately 2.2 Billion people have access to the internet and not all of those are connected to banks.
- Crypto-currency is traceable but your identity is private
Transactions have to be traceable because miners need to verify transactions and make sure that the balance adds up.
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