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The advent of the internet as a mass-market tool has been intriguing to witness in real-time. Once upon a time, older relatives would tell digital natives that the web was something to be avoided or at least treated with distrust. In the present day, some of the more enthusiastic adopters of online services and products are those same relatives, who have been enthralled by the convenience that the digital world can provide. However, the question of trust is still one that needs to be taken on its merits.

 

The ideal state for any transaction online in the modern era is what you could call “qualified trust”. That is, we trust the other party in a transaction as long as they can prove they are trustworthy. We’ll make smaller orders until we have been satisfied that we can make larger ones without a problem; or place money in escrow until both sides of the deal can see that the terms have been satisfied. And, increasingly, we are finding that the use of cryptocurrency is a viable way of ensuring that we can spend our money safely.

 

Cryptocurrency means no waiting

One of the major advantages of crypto spending is that from the moment it is sent to the moment it is received, there is at most a tiny window where you have to wait. Often, that window is as good as non-existent. The ability to make transactions rapidly means that you can avoid the need for long, uncomfortable waiting periods where neither side is certain where it stands. Merchants are reassured by the swift transfer of funds, while consumers can feel confident in the fact that there is no need for middlemen as part of a transaction.

 

Anonymity is a blessing

One thing that has continued to make people feel awkward about spending money online is the resultant paper trail. No matter what the transaction, it is understandable that many people will feel uncomfortable with the idea of their financial actions being scrutinized. That makes sense in an age where corporate espionage is easier than ever. Customers of online betting sites, too, know they can use a site like this to find bookmakers who will accept crypto, keeping such transactions off bank statements. This is a reassurance in this day and age, where copy bank statements are often requested by landlords and potential employers as proof of ID. They don’t need to know what you’re spending money on.

 

Crypto is a benefit to people living under oppression

There is a reason why some governments – primarily those in authoritarian states – have taken action to make crypto transactions illegal. When people living in those states need to receive money and spend it in order to get on with everyday life, it is beneficial that they can receive it in a way that cannot be tracked by third parties. Many recent humanitarian payments, including during the war in Ukraine, have been made by means of crypto. This has allowed people living in precarity to continue to buy food and fuel, and use online services at a time when other means have been denied to them.

 

Lack of commission means more people can afford to do business

The absence of middlemen – a key feature of crypto transactions – means the absence of commission. This is a big deal for people who are trying to make their businesses work. Not having to pay out a commission, which can vastly increase the prices people pay for services and products, means more people are able to take control of their own business and look out for themselves.

 

The importance of cryptocurrency will become more obvious as the world, and business continues apace down the road of decentralization. For now, it is worth knowing what difference crypto can make for people who need its anonymity, immediacy, and affordability, as these will continue to be priority needs going forward.