The unique nature of cryptocurrency has some inherent features that make it garner so much attention. The faster mode of transaction makes cryptocurrencies a popular choice for businesses and financial institutions.

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How Is Cryptocurrency Making Payment Faster
And Safer
The unique nature of cryptocurrency has some inherent features that make it
garner so much attention. The faster mode of transaction makes cryptocurrencies
a popular choice for businesses and financial institutions. Well, Bitcoin has
completed more than a decade, the currency has undergone various changes and
upgrade, thus making it one of the most preferred choices for those who wish to
use digital currencies.
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Presently there are more than 5000 cryptocurrencies in the market, but Bitcoin
maintains its position. Nowadays, many investors are investing in
cryptocurrencies. Countries like China, Japan, USA, Australia etc. are propagating
the idea of the use of cryptocurrency.
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Why Cryptocurrency ?
We know that necessity is the mother of invention, and cryptocurrency answers
the queries of the current platform that we are using for transactions. The digital
platform that we are currently using has various bottlenecks, a few which we are
enumerating below:
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1. Delayed transaction
2. Time-consuming
3. Costly affair
4. Third-party intervention
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Let Us Explain These Problems:
● Delayed Transaction- The digital platform that we are currently using takes
a lot of time because of the validation and verification process. This delays
the time of transaction and thus, hampers the business process.
● Time-consuming- As we have already mentioned that the digital platforms
that we are using delays the transaction process because of validation and
verification. Thus, it consumes a lot of time which can otherwise be used for
making the business more productive.
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● Costly Affair- The conventional platform that we are using is costly because
of the processing fee that needs to be paid to the payment gateway providing
parties, and it can be a bank or any other transactions platform. It further adds
up to the cost of the transaction. Well, it might not be bothersome for a
smaller transaction, but when a big chunk is involved, then the amount is
significant.
● Third-party Intervention- Now this is the biggest problem that any business
faces, the interference of the third party makes things difficult for the people in
the system. The time delay, and cost all are the aftermaths of third-party
intervention.
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How Does Cryptocurrency Overcome All These Issues?
Well, when we talk about transactions, then companies look for a platform that
can aid faster tarnation, without any hindrance. Now Cryptocurrency, which runs
on the Blockchain platform, has a lot to offer. The entire framework of
cryptocurrency transaction is free from the attack of hackers; it doesn’t involve any
third-party.
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The peer-to-peer interaction ensures that you don’t have to worry about waiting for
approval. Rather the two parties interact with each other and transaction is
processed. Unlike the conventional platforms, the cryptocurrencies work globally,
and you don’t have to worry about getting approval from third-parties.
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Moreover, the processing fee is minimal as compared to conventional platforms.
All these advantages, eventually, aids the business process and ensuring that the
transaction is faster. Moreover, a Blockchain platform that aids cryptocurrency
transaction also ensures that all the information is encrypted cryptographically,
thus ensuring there is no attack from the hackers, thus making the entire system
infallible.
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Concluding thoughts- All these propositions make cryptocurrency a profitable
choice for every individual who is targeting faster transaction. Besides,
cryptocurrency has reinvented the wheel by giving the boost to the conventional
mode of transaction. Also, it has become a lucrative career option; all those who
wish to become a cryptocurrency expert, have a great future ahead.
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Blockchain Council is offering cryptocurrency certification and cryptocurrency
trade online degree. These certification programs are going to equip you with all
the information and knowledge about cryptocurrency and make you a
cryptocurrency expert. With the cryptocurrency trading certification, you will learn
the art of trading in digital currencies and thus start your investment journey.
Despite initial resilience, cryptocurrency has become a leading choice and a great
alternative to the conventional mode of transaction.
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Blockchain Council Certifications
You can check out our certifications, and kick start your career in the Blockchain
space today.
● Certified Blockchain Expert
● Certified Blockchain Developer
● Certified Smart Contract Developer
● Certified Solidity Developer
● Certified Ethereum Developer
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Any questions?
You can mail us at
hello@blockchain-council.org
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