Why Would Anyone Want to Use Crypto Currencies?

Paper currency has been around for hundreds of years — and people are used to it, acceptance is good.

So why would anyone go the extra mile and set up and then use a Bitcoin (or other crypto currency) infrastructre?

Ask the millions of happy Bitcoin users (plus users of the smaller other crypto currencies around the world) to learn why. Main features cited usually include, but are not limited to:

  • low transaction fees
  • an alternative to government-issued (and forced upon by monopoly of power) currencies
  • not a Fiat currency: crypto currencies are not created by government decree, nor formal law, or any other similar rule but by the free market and voluntary in nature
  • very fast clearance at Point of Sale (usually at speed of an e-mail)

Additional advantages (primarily for merchants accepting Bitcoin and similar) include:

  • low or no “credit card processing” fees
  • free for merchant up to a certain (large) threshold (results in roughly 3% off price for customers!)
  • no chargebacks, once confirmed (cleared) transactions are final
  • no waiting
  • not reliant on only one processor and data connection, but P2P high-availability and speed due to very architecture of systems

The list goes on and on, and this does not even include the “thrill” of opting out of government control in another area of every-day life or any similarly “political” reasons for using “private money”.

Add the latter and you would see a much (as in many times) longer list here.


Leave a Reply