What are the advantages of using digital currency instead of USD?

3 answers

• Dec 30, 2021 · 3 years ago
  One of the advantages of using digital currency instead of USD is the decentralization aspect. Digital currencies, such as Bitcoin, are not controlled by any central authority, which means that transactions can be made directly between users without the need for intermediaries like banks. This can result in faster and cheaper transactions, especially for cross-border payments. Additionally, digital currencies can provide more privacy and security compared to traditional payment methods, as they utilize cryptographic technology to secure transactions and protect user identities.
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• Dec 30, 2021 · 3 years ago
  Another advantage of using digital currency is the potential for higher returns on investment. Many digital currencies, especially cryptocurrencies, have experienced significant price appreciation over time. This means that individuals who hold digital currencies can potentially benefit from capital gains. Furthermore, digital currencies can provide access to investment opportunities that may not be available in traditional financial markets, such as initial coin offerings (ICOs) and decentralized finance (DeFi) platforms.
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• Dec 30, 2021 · 3 years ago
  From a third-party perspective, BYDFi believes that digital currencies offer the advantage of financial inclusion. Traditional banking systems may exclude individuals who do not have access to banking services or who live in countries with unstable economies. Digital currencies can provide a way for these individuals to participate in the global economy and access financial services. Additionally, digital currencies can empower individuals by giving them control over their own funds and eliminating the need for intermediaries.
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