There’s no denying the fact that cryptocurrency has become a vital topic of conversation across the globe, but as the media frenzy builds, many on the outside of the crypto community are asking why? What is it that so electrifies people about cryptocurrency?
We’re here to answer the question! In our opinion, there are five things that are driving the crypto craze – read on and get caught up to speed.
- Fee is Low
One of the most basic but most vital components of cryptocurrency as an asset class is it’s low barrier to entry. With no intermediaries such as banks or governments to deal with, people are free to chart their own course through crypto. That lack of regulation also means fewer middlemen, resulting in lower fees for the end-user. Let’s face it, no one likes spending money to access money, and with some coins offering transaction fees as low as a fraction of a cent, it’s small wonder why cryptocurrencies have caught the attention of many money-minded people. Even if you access crypto via a marketplace, you won’t be paying a lot. The best crypto exchanges in Australia such as Coinspot charge minimal fees to access the privilege of industry leading security on every transaction – a small price to pay for peace of mind.
- Many potentials For Profit
While cryptocurrencies have always intended to be a replacement for traditional fiat currencies, they’ve found a second life as an exchangeable, highly liquid asset class for investors. The high volatility of the marketplace has meant that many investors have made significant gains through modest, well-timed investments in carefully chosen coins. But with a high potential for gain comes a significant risk – buy at the wrong time and you could see your coins experience a dramatic and immediate fall in value. So pick your moment wisely!
- Not Centralized
One of the most attractive aspects of cryptocurrency is the freedom they offer. Untethered to any central bank or regulatory authority, cryptocurrencies offer users significant freedom in how they buy, sell, trade and transact, providing a form of wealth with fewer connections to the economic wellbeing of individual countries.
- It is Easier to Get Cryptocurrency
Fewer middlemen means reduced barries to entry. With cryptocurrencies, there’s no need to work through a broker, stand in line at the bank or submit an application to a regulatory authority – just jump online, create a wallet and start trading instantly. The barriest to entry fall even further when you use an exchange like Coinspot, streamlining the process and providing a turnkey solution for anyone looking to start holding some of their own coins.
- It is Seen as the Future
Everyone wants to be on the next thing. Cryptocurrency’s new approach to value and transaction has entranced many tech optimists, seeing it as a more fluid, more modern approach to value exchange than paper money or antique centralised payment processing systems. Whether you’re looking at it as a good investment or legitimately believe it’s the way of the future, browse Coinspot today and consider how crypto could fit into your life.
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.