Coinstirs is an online trade marketplace which allows you to buy and sell all kinds of crypto currencies. One huge example of such crypto currency is bitcoin. The world is moving forward and new advances are being made in the field of buying and selling goods and trading. Crypto currency is a huge alternative to online cash exchange. It is used all around the world in place of credit cards or cash. Many companies and brands have introduced their own crypto currencies that can be used to buy and sell goods from that particular brand or company. There is still a lot of criticism regarding bitcoin and crypto currency for example it being in terrorist and fraudulent activities. Despite all this criticisms, advantages of using cryptocurrency can still not be denied.
Advantages of using crypto currency:
Transactions are made easy:
Transactions are made quite easy using crypto currency like bitcoin, safemoon or poo coins. A lot of money needs to be spent on online transactions in the form of transaction fee. Apart from that, lots of paperwork needs to be filled as well. When it comes to crypto currencies, transactions are made transparent. Both parties know each other well enough and there is no confusion about who is going to pay whom.
A blockchain ecosystem is used when transferring of assets. It can happen through bitcoin. It helps you to carry out transactions with great security. A lot of time and expenses can be saved when bitcoin is used for transferring big assets from one name to another. Blockchain technology is highly beneficial when it comes to transparency information. Personal information of buyer and seller are never disclosed.
Transactions are quite secure:
There is not much security provided when transactions are made through banking. All the history is recorded and all the paperwork is saved. When using crypto currency, there is a huge advantage of anonymity. There is no history or record of who made transaction to whom. You only share the information that you want with the recipient. All transactions made through bitcoin are safe and secure. There is very little risk of fraudulent considering personal information is not disclosed to the person you are dealing business with. Both sellers and buyers are safe from the losses that might come their way through fraud.
How can one avoid cryptocurrency scams?
A lot of people online can steal your money using cryptocurrency. If anyone online tells you that you have to pay through cyrptocurrency is surely a scammer because there is no way you can have your money back once you have given it away. Some of the scammers that you need to look out for are:
- Some scammers will say that you can earn a lot of money online in a very short time.
- False guarantees and promises are made when you are told to pay in cryptocurrency and in return, these investments will make you rich.
- Some scammers may offer you free jobs but only end up taking away your cryptocurrency and all your personal information.
What are different types of crypto currencies today?
Cryptocurrency is specific to a certain application, brand or company where you can use tokens to buy, sell and trade goods and products specific to that particular company. Other few examples of cyrptocurrency include dodge coin, shit coins, poo coins and safe moon etc.
Shit coins are rarely hard to recognize because they are based on a very unique pattern. Cryptocurrency cannot be used to buy and sell goods in the real world; it can only be used online, mostly to make transactions. Having very little use in the real life, they have importance just because of their mere existence.