Why Is Cryptocurrency So Popular?

With cryptocurrency becoming more popular with every passing day, more people than ever are exploring the options for buying this digital currency. If you've been thinking about cryptocurrency investment but you aren't sure if it's right for you, or you're hesitant about investing your family's savings into a currency like this, it's helpful to understand what makes cryptocurrency worth having. If you're ready to buy BTC crypto, read on to learn why many other people have invested in cryptocurrency.

Greater Fraud Protection

Perhaps one of the biggest single reasons to put money into cryptocurrency is because it's far more secure than traditional banking. Cryptocurrency transactions can't be disputed and reversed the way that many banking transactions can, which means that you won't have to worry about fraudulent payment disputes costing you your bitcoin. 

With traditional currencies, a payment dispute typically results in the money being withheld from you while a decision is made, and most payment services lean toward finding in favor of the consumer, not the seller. Cryptocurrency eliminates the possibility of these chargebacks, so you can be confident that the funds you receive are secure and are yours to keep. And since cryptocurrency transactions are all a part of the blockchain, there's a record of every transaction should there ever be a question.

Enhanced Security

In a time when identity theft and data breaches are a paramount concern, credit card numbers and bank account numbers are vulnerable to theft. While most banks will refund fraudulent activity, the time it takes to get that done can be costly to you both emotionally and financially. Not to mention, once your identity is out there, you're at further risk for identity theft issues.

Cryptocurrency transactions are different. There's no credit card number to steal and there's no social security number or other identifying information involved. Cryptocurrency transactions are push-cycle transactions where the funding is sent from the payor directly to the payee in a digital transaction without any additional details needing to be supplied.

Minimal Fees

Anyone who has ever had a traditional bank account or dealt with a payment servicer understands that service fees are commonplace. Everything from insufficient funds fees to a percentage fee per transaction can add up quickly.

If you're looking for a virtual currency that won't cost you an arm and a leg in fees along the way, cryptocurrency is a great option. Many of the cryptocurrency wallet servicers do charge a small fee for their service, but it's often far less than you'd pay with mainstream financial services and you'll find that the fees are few and far between.

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