2021 has seen a tremendous influx of investors in the crypto space. For years, banks and other financial institutions have been central to managing and governing your funds. They are crucial in deciding where and when you can transfer money and also levy heavy charges on transactions. This means we have little or no financial freedom. With so many restrictions and limitations ruling the financial space, money has always been a subject of worry for people.
Fortunately, with the launch of cryptocurrencies, this hassle seems to fade away
A report in 2017 revealed that around 1.7 billion people across the world do not have any access to financial institutions or bank accounts. Nevertheless, the launch and adoption of technologies like blockchain and cryptocurrency are anticipated to bring such people closer to banking services.
Digital technologies have transformed the way people communicate and exchange information. In fact, cryptocurrencies have shown how easily financial inclusion can be achieved. For plenty of good reasons, they are witnessing a rise in their popularity and demand. From the ease of use to minimal transaction charges, cryptocurrencies come with a lot of benefits.
As we have MasterCard and Visa as global payment networks, though these cards facilitate hassle-free funds transfer, they impose heavy charges. These exorbitant charges make it difficult for small businesses to deal internationally. This is where cryptocurrency emerges as a viable option. Since it follows a decentralized approach, it eliminates the need for middlemen.
Next, let’s consider a real-life example. Venezuela, the country in South America, has been facing a hyperinflation-like situation since 2016. Moreover, the inflation rate in the country between 2016 to 2019 rose by 53,789,500%.
Considering the depreciation in local currency, people in Venezuela resorted to Bitcoin as an alternative currency. From then, there was a considerable rise in crypto trading volume in the country. Citizens enjoyed control over their funds without the involvement of any third party, banks, or financial institution. This also led to salary distribution in digital currencies.
Thus, cryptocurrency ensures to keep you protected against financial crises. It assures to hold value and offers accessibility and stability. Plus when it comes to exchanging it into local currency, you can easily achieve it. Whether Ethereum to INR or BTC to INR, exchanging cryptos for your local currency is much simpler and hassle-free. You just need to find a reliable exchange company near you.
Hence, cryptocurrencies are great alternatives to address existing financial loopholes. You can buy, sell or trade them commission-free while enjoying complete hold over your assets.
How crytocurrency offers you financial freedom
- You are free to access your money anytime regardless of holidays, festivals, or bank closures.
- Your funds enjoy greater security.
- There is no or less risk of human errors, frauds, or failures.
- You enjoy complete control over your money.
- Cryptocurrencies are not affected by external market conditions. For instance, despite the pandemic, the Tron showed an amazing performance. The Tron to INR exchange price today stands at 5.05 INR.
Hence, cryptocurrency truly offers you financial freedom. You can send and receive it anytime, from anywhere in the world.