Benefits Of Cryptocurrency Quora

The Benefits of Crypto in 2023

Ease of Transactions

One of the main benefits of owning crypto is that it allows for easy and convenient transactions. Unlike traditional banking, which can be slow and expensive, crypto transactions are processed quickly and at a low cost. This makes it an ideal option for sending money to friends and family, or for making online purchases.

Predictable Store of Value

For Bitcoin to work as a currency, it would have to act as a predictable store of value. This means that its price should be relatively stable over time, so that people can be confident in its purchasing power. Currently, Bitcoin's price is highly volatile, making it difficult to use as a currency for everyday transactions.

Convertibility

The term "convertibility" in economics refers to the ability of a currency to be exchanged for another currency. For Bitcoin to be widely accepted as a currency, it needs to be easily convertible into other currencies, such as the US dollar or the euro. This will allow people to use Bitcoin to buy goods and services from around the world.