Over the past few years, the term cryptocurrency has been in the public eye for its valuable benefits. You must be hearing the terms Bitcoin, Ethereum, Ripple, Monero, etc. These are all the list of cryptocurrencies based on Blockchain technology.
Bitcoin was the first cryptocurrency to be launched in 2009 by Satoshi Nakamato. In the moving industry, California Movers: Local and Long Distance Moving Company was the first to start accepting the Bitcoin and Ethereum as the payment method for their services.
In this post check out the seven incredible ways cryptocurrency can benefit moving company customers.
1. Easy Transactions
In traditional times, business dealings involve a lot of third party agents, brokers and legal representatives that complicates the transaction process. This not only consumes a lot of time but also the waste of money. The most important benefit for the moving company customers is cryptocurrency is one to one transaction with peer to peer network. There is no third party involvement and thus transactions are clear and easy with just a few clicks away.
When you make the traditional transactions, there is a lot of information along with your credit card details are stored. This acts as the reference document for many credit card agencies or bank. They use the information for checking the sufficient funds in your account. Thus it acts as the pull mechanism for the customers. On the other hand, there is cryptocurrency which works on push mechanism. This means you have control over the information to be sent to the recipient during transaction maintaining security. This transaction is the unique exchange between the sender and the recipient agreed and negotiated in each case.
3. Transaction Fees
When it comes to the traditional transaction system, there are a lot of intermediary transaction fees involved. If you are the one who makes transaction frequently in the month then you will get seriously affected. There is a different scenario in the cryptocurrency where the network does the compensation and transaction fees usually don’t apply. This helps the moving company customers to prefer this payment system over the traditional exchange system. There are some people who utilize the third party such as Coinbase to maintain and create the wallet. This service is just like Paypal but it charges the fees for maintaining the wallet.
4. Greater Access to Credit
This service is available to all the people who have viable data connection and cryptocurrency network. They can easily transfer the money with the basic knowledge of cryptocurrency network. It’s been estimated that currently, 2.2 billion individuals across the world have the internet connection but not have the access to the banking system or exchange. The cryptocurrency payment system holds the potential in asset transferring and transaction is available to willing customers during moving the house or office.
5. Individual Ownership
In the traditional system, there is a third party involvement which has the power to control your money transactions. They close the account if they find that it is breaching the Financial Institution terms. The best advantage of cryptocurrency is that it is the sole owner unless there is a wallet of the third party for maintaining money. This makes the transaction smoother than the other payment system without revealing the other information. It also helps in preventing the identity theft as it is under the control of the sender to share the information related to transfer to the recipient. This makes the cryptocurrency the first choice for the payments to the moving company customers.
6. Fraud Proof
The cryptocurrency is decentralized and neither in the control of bank or government. The public ledger records all the transactions with the encryption technology. There are charge backs in the traditional credit card payment system but the digital payments don’t get reverse arbitrarily. Thus the payments are fraud-proof having one to one transaction.
7. Instant Settlement
The main benefit of cryptocurrency network is that the payment gets transfer instantly. All you need the smart device for the transfer of payment and viable internet connection to transfer the money from one account to the other. In the traditional system, there is third-party involvement which makes the transaction unnecessary lengthy. With cryptocurrencies, you can, in fact, make the transaction on the future date with less expensive as compared to other payment systems. Hence moving company customers can transfer the money instantly with the lower fees.
These are the seven incredible ways that can benefit the moving company customers. Utilize them and make the cryptocurrency as the first choice of payment for the money transactions during moving in.