Cryptocurrency is considered by many financial experts as the money of the future, an international phenomenon which develops on a daily basis. Numerous startups worldwide which have activities in the innovation sector offer the possibility of paying for goods and services with digital money, besides the traditional methods. In this sense, it has been observed a significant increase of the cryptocurrency companies not only in the main financial business hubs like China, UK, Luxembourg, the UAE or Malaysia but also in countries that recently registered remarkable economic growths among many other related aspects. A cryptocurrency company comes with varied benefits like a solid protection and low fees.
The meaning of cryptocurrency
Bitcoin is the most popular cryptocurrency at the moment and has been patented in 2009 by a Japanese developer named Satoshi Nakamoto. The virtual currency which represents a form of payment without having to use liquidity is created with the help of developed blockchains, a shared global system which can move funds in accordance. Nowadays, the digital currencies come in varied names like Ethereum, Litecoin, Ripple, NEM, EOS, ICON, Stratis, Binance Coin and many more. Because cryptocurrency is seen as an investment tool, in many countries, the legislation that oversees the financial activities with virtual money is the same as for foreign investments.
Universal recognition of cryptocurrency
Among the advantages of digital currency, and particularly the cryptocurrency company, the universal recognition is probably the most important because a wide range of financial transactions can be settled through cryptocurrency, as there are no interest rates or change fees. The transfer of money from one country to another is subject to complete protection, privacy and tax-free. Moreover, this method will save money in all transfer cases by using the cryptocurrency, offering complete control and security to the owner.
Cryptocurrency, a decentralised alternative to foreign currencies
The blockchain technology is a large database where all digital money is managed regardless of their country of origin. This is part of decentralization feature of this sector which offers the multi collaboration at an international level.
Even though it is not a case to worry about, at least for the moment, there are situations in which entrepreneurs may not consider 100% the rules and regulations which stand at the base of a cryptocurrency company. In this sense, a defence solicitor is needed because it is essential to obtain legal assistance in front of the authorities and of course, a solid defence.
Identity theft? Forget about it!
It is true, some people say that they cannot be calm if they do not see the real money in their hands. With top technology and constant expansion, especially in the financial sector, the digital currency is for sure far more protected than other financial tools. For example, the credit cards are handed in most cases to the convenient store, therefore, a pull-based operation of your bank account. In the case of a digital wallet, the operation is the opposite one because the cryptocurrency uses the push system and allows the owners sending the precise amount of money and no related details, and even more, no cards involved.
Nowadays, there are more than 1,100 registered cryptocurrencies worldwide, and a market capitalisation of about USD 600 billion, meaning that this type of digital money gains lots of territory and trust among business persons around the world.