Cryptocurrency is a digital currency and payment system that is completely different from usual currencies. Bitcoin is the first invented cryptocurrency by Satoshi Nakamoto (2009). It’s called as the decentralized digital asset or digital gold. Bitcoin is an open source software which means that not any particular person, company or nation owns it (just like the internet). This follows peer-to-peer network i.e. 2 or more participants can transact individually without any involvement of bank or any central authority.
Some investors prefer to invest in Bitcoin while others find it risky even now. We have collected 10 points to describe the benefits of investing in cryptocurrency:
1. Cryptocurrency is rebellious
The advancement introduced by Bitcoin will never fade away. And the technology behind it can be modified according to any context as per the requirement. A cryptocurrency transaction is made successful using a series of unstoppable servers. BitTorrent, which was the file-sharing protocol invented by Bram Cohen, has been existing since 2001 and its usability is not reduced till now.
BitTorrent was the very first Decentralized Application (DAP) which provided a platform to share files, upload and download them through the internet. Bitcoin was induced with the same concept with a new technology called Blockchain Technologywhich is only growing with time.
2. Increasing acceptance for Cryptocurrency
Cryptocurrency user acceptance is growing all over the world. There will be more investors investing in crypto currency and more sellers/merchants using it as a payment mode. It’s increased usability has also helped in growing capital market investment of Cryptocurrency. The countries rapidly adopting Cryptocurrency are India, China, South America, Africa and much more. Many new tools have been discovered to make Blockchain more advanced.
When cryptocurrency was launched, it was used only for private exchanges but nowadays, its applications have increased and more people are being favorable towards this concept. Decentralized nature of cryptocurrency makes it an asset that can drag anybody’s attention due to the benefits it may introduce. Extreme returns and adaptable volatility are responsible to increase its demand.
3. Reward per block decreases with time
Bitcoin has started leading with a protocol by which approx. every 210,000 blocks, the amount of new Bitcoin generated is cut in half. When Bitcoins were launched in 2009, the users were being rewarded with 50 Bitcoins/block. The reward amount was halved in November 2012 to 25 Bitcoins/block. This will keep on happening and in upcoming years, the mount will be halved again. The reason of hike in Bitcoin’s price and drop in reward/block is increasing popularity and usability of Bitcoin because more people are willing to acquire it with time.
4. Flexible Trade
The Cryptocurrency-trading is very convenient and flexible. To buy cryptocurrencies, a credit/debit/PayPal or a bank account is needed. Blockchain technology makes it super easy to buy and sell a Cryptocurrencies. Transferring as well as exchange process of Cryptocurrencies is also very easy. One thing to consider here is that transfer process is irreversible that’s why it should be performed with utmost care.
5. Increased Protection
Due to the blockchain technology being used in Cryptocurrencies, it cannot be counterfeited, hacked, change or manipulated. Cryptocurrencies transactions are being processed using cryptography and once cryptocurrency has been sent, the process cannot be reversed.
Cryptocurrencies decrease the possibility of intrusion. Unlike credit cards (pull mechanism), Cryptocurrencies use a “push” mechanism that avails the Cryptocurrency holder to send anything without adding any redundant information. At the time of the transaction or before that, there is no need to provide your name; Digital wallet IDs work well with Cryptocurrency.
Using a cryptocurrency, you can send or receive money from any corner of the world to anywhere. The transactions are all digital, that’s why cryptocurrencies operations can be done anytime. The crypto-world knows no limits and it benefits its users with the same. While transacting using cryptocurrency, you have full access to your money without any interference of government bodies. Only a peer-to-peer network is established. Through Blockchain, public ledger of transactions is maintained that avails complete transparency.
7. Immune to Inflation
While using a fiat currency, a risk of inflation keeps on revolving. Fiat currency can use its value anytime when the government doesn’t stop to print more of it. But while considering Cryptocurrency, it is free of any government regulation that’s why no such act can create a situation of inflation. Another thing to discuss here is that supply i.e. production of Bitcoin or any cryptocurrency is kept fixed to a certain level which helps to maintain its value.
8. Acknowledgement Rate
If we see the growth chart of Cryptocurrencies, we can easily see the difference coming from its invention till now. Cryptocurrencies usability has increased to the greatest extent and now this cryptocurrency has properly stabilized and still, its value is increasing with time.
9. No Taxation
Due to zero involvement of intermediaries or third parties, no taxes are associated with Bitcoin and also transaction fee is being reduced to a considerable amount.
10. Quick and Convenient Transactions
In the transactions associated with cryptocurrency, complicacy is reduced because, with the help of Blockchain technology, all the transactions can be recorded at a place, which is a public ledger. Also, Blockchain transactions offer reduced processing time in comparison to any bank transaction. The best thing is that these transactions can be performed any time in the day.
Rilcoin is a cutting-edge crypto technology based, fully decentralised crypto-currency, which actually has all the benefits of fiat currency as well the freedom and anonymity of a crypto-currency. Rilcoin is a part of an Asset Management System (AMS).
Using Rilcoin, Investors can buy or sell assets through the asset management system (AMS), which facilitates ownership of a single asset to be owned by several investors at the same time. The world is changing and technology works as a catalyst in this process. All most all business segments are getting modified as a result. The way businesses operate today will not happen in the near future. To name a few, Agriculture, Energy, Technology (IoT), Manufacturing & Logistics, Real Estate and much more will evolve with time. Our vision is to take this opportunity and create a platform to distribute it across the globe. The assets all over the world can be owned by the people without any social or geographical barriers and design a payment system so flawless and robust to support the infrastructure based upon block-chain technology.
With Rilcoin, a revolutionary improvement in blockchain technology and cryptography now enables common people to use their smartphones, smart TVs, Smart IoT devices for becoming a part of the new type of blockchain a.k.a Tron-chain.