Wednesday, 24 May 2017

Digital coins vs cash

     There are many types of digital money and electronic accounts in the world. Many people wonder, how can there be so many electronic currencies without a system of control or authority over them. An example of these cryptocurrencies is the Bitcoin.

     For some years this type of currency has been influencing a lot in the networks worldwide thanks to the fact that cash is already disappearing in many countries of the world. People today prefer to change their money for digital coins than to have the hassle of cash. This way you can use it as an investment for your life.

     Bitcoin is not only electronic money, it is a digital currency and its value may vary according to the currency of the country. There are countries in which the authorities want to impose this system as the only form of currency and disappear the cash making inflation that is not so variant and the economy is more stable.

     One big difference between cryptocurrency and electronic money is that bitcoins do not devalue; their value stays constant while money in many countries of the world loses its value over the years. Bitcoins have benefited millions of people in their finances. Users of this digital currency prefer to invest their money in it and in that way multiply their savings by changing them with currencies from other countries.

     With Bitcoin, people can conduct transactions free of charge and without authorization. Cryptocurrency has a purchasing power that other currencies simply ignore and users of bitcoins can evade taxes since it leaves the decision to report to the officers who charge their users.

     As the public is adopting bitcoin and foreign exchange without blockchain-based permits globally and are trying to integrate the technology. Instead of distorting, the organizers of the monetary centers believe in adding the word "blockchain" to existing databases that today will attract more people to a society without cash. One that will be monitored, censored, and still "editable" for those who try to erase fraudulent behavior.

     There is no doubt that the era of the digital currency has arrived to stay and Bitcoin is at the top of the summit as an example for other companies that want to undertake in this new mode of money.

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