Cryptocurrencies are electronically created digital currencies/electronic money that constitute contemporary means of payment, designed to improve the security and speed of money transfers. This digital money has its real value determined by the supply and demand of its users.
There have been multiple reasons for the development of cryptocurrencies and each has its significance. However, if we were to look for the primary reason, it would inevitably be classic money, which compelled people to think about better and more secure forms of payment. As you must know from personal experience, sending money abroad can be costly and slow. This is something that cryptocurrencies successfully seek to remedy. Another reason that is frequently mentioned is transparency and security. In standard bank transfers, you do not know what is happening with your money at any given moment, while revealing to someone a whole range of personal information.
These issues become non-existent when dealing in cryptocurrencies. The transfers are very fast, which applies equally to payment transactions across the globe, while the transfer costs are minimum and the system transparency maximum with practically no personal data involved. If you wish to avoid bureaucracy or just want to feel safer in today's world, give cryptocurrencies a try.
At EPIC Group, we recognize up to 3,000 digital cryptocurrencies. We can help you invest in those that are sure to hold out thanks to meaningful projects.
Some of the major companies that have announced their entry into the domain of digital currencies include KODAK, Intel and IBM. We may expect Microsoft, Facebook, Amazon and Apple Inc to join in soon.
Nowadays, Bitcoin, the largest cryptocurrency, is comparable to gold in that it can retain value, but with greater potential for growth.