There is also an essential technology that makes cryptocurrency secure; it’s called “blockchain.” When you make transactions, all data including your address and the transaction amount are converted into unbreakable code which is logged in on the blockchain that acts as a digital ledger or bookkeeper and recorder.
Benefit #2: Total Control
A peer-to-peer protocol monitors the cryptocurrency economy, which cannot be controlled or corrupted by governments and other organizations and is accessible to all no matter where or who we are. You can secure and control your own coins, with no central banks to block you with your withdrawals. You also don’t have to ask permissions before using cryptocurrency.
Benefit #3: Fast and Cheap Transaction
With a future for more improvements to look forward to, cryptocurrency’s transaction speed is remarkably fast, and with a low transaction cost. Bitcoin transactions only take 10-120 minutes for $3-7 per transaction, and Ripple—which is taking the lead when it comes to transaction speed—only takes 4 seconds per transaction. And transaction with checks and some—but not all—of the Credit/Debit Cards take at least 3-7 days for $15-20.