Blockchain: Blockchain for Beginners (Cryptocurrency Book 3) by FinTech Publishing

Author:FinTech Publishing [Publishing, FinTech]
Language: eng
Format: azw3
Published: 2017-07-23T04:00:00+00:00

Blockchain Money

When you hear the phrase “blockchain money” you may immediately consider Bitcoin, but recall we had mentioned there are many cryptocurrencies available on the digital market at this time. If you have heard this phrase on a regular basis, you may be starting to wonder exactly what it means.

Blockchain money, or cryptocurrency, essentially means a type of online currency. You have probably already figured out the definition by now. But, what does it actually mean? Or, in other words, what are the possibilities that are carried with using cryptocurrencies?

Cryptocurrencies, or blockchain money, actually carry a significant number of benefits that cannot be held by standard tangible currencies. Bitcoin tends to be the most recognized cryptocurrency, but it actually doesn’t carry as many benefits as most cryptocurrencies do. In fact, it doesn’t even carry as many benefits as standard currency does.

Additional types of cryptocurrencies have been created that are capable of carrying an incredible amount of freedoms that standard currency simply cannot. For example, they can be created for unique transactional circumstances. Some may be relevant only in mortgages, whereas others may be more beneficial in retail shopping. In other words, some may be programmed to carry unique benefits that would be amplified in the mortgage industry, whereas others would carry unique benefits that would make them more productive in a standard retail environment. Because of the programming attached to the currencies, it would ultimately make them capable of being used for unique purposes and carry unique abilities that we may not necessarily understand at this time in development.

A further benefit to using cryptocurrencies is their ability to be significantly more secure than standard currencies. When you conduct a peer-to-peer or person-to-person transaction using a cryptocurrency, you can be sure that there will be no fraud conducted alongside that transaction. Neither party within’ the transaction (or outside of it) will be capable of stealing money or stealing your personal or digital identity. This means individuals and businesses can confidently exchange currency without fear of fraudulent activities taking place and negatively affecting either party.

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