Recently, Insider Pro posted an article with a fantastic infographic that demonstrates the clear superiority that crypto currency has over ﬁat currency as we know it.
Interestingly, for a digital creation, Bitcoin has elements of all three of the asset classes, and rates more highly among a broader number of categories than gold or the vaunted U.S. dollar.
Here are a few of the ways in which crypto demonstrates an indisputable superiority to other currencies.
While gold and the dollar are relatively secure – indeed, advances in recent years have made paper currency extremely diﬃcult to counterfeit – neither of them hold a candle to cryptocurrency.
Backed by the permanency of the immutable blockchain, crypto is secure. While there have been some high proﬁle thefts, foul play and fraud via various malware attempts are few. The weak point in other scam attempts such as phishing is the person holding the currency, which is the same weak point in thefts of other types of currency.
There’s a reason that governments and exchanges are adopting crypto more and more in recent years. It’s decentralized nature, unfettered by regulations makes for mere instant transfer between holders.
Whereas cash can sometimes take as much as several days of veriﬁcation to transfer, especially internationally, crypto can change hands in a matter of moments.
The smart nature of cryptocurrency combines all of its best features.
Security: Cryptocurrencies are cryptographically secured, seizure-proof, and government censorship resistant. When any individual can send money world wide, worry free, it’s true freedom
Privacy: The private nature of coins enable cryptocurrency access to what could be considered the equivalent oﬀshore or private banking ecosystems to private citizens worldwide. The private nature of the coins also allow them to be used in novel ways, and pay for goods or services that can’t – publicly, at least – be paid for with traditional currency.
Smart contracts: Crypto and the blockchain behind are increasingly becoming the medium for executing smart contracts – a system in which the exchange of a currency triggers an action relying upon the receipt of that currency, with proof provided by a public and immutable record. Neither of the other currencies on that list can make quite the same claim.