I am always very bad at writing articles about cryptocurrency. Because I have very little knowledge of cryptocurrency. It can be said that there is about 5% knowledge. I still write because I like to write about cryptocurrency. I prefer to do research on Bitcoin and Bitcoin Cash rather than researching on different cryptocurrencies. Most of the time I try to read all the articles written about cryptocurrency and watch different videos. One of my many desires is to invest and trade in Bitcoin and Bitcoin Cash. Although I still do not understand what trading is and how it works. But I hope to write a short article after researching what trading is and how it works. Although I don't have much knowledge about cryptocurrency, I'm trying to write today with that 5% knowledge, "If we do business with bitcoin cash, what problems do we face and what kind of benefits can we get?"
Benefits of using cryptocurrency in business-
There are many benefits to using Bitcoin Cash in business. Notable among which are-
We can easily and easily complete any paid work through the device This will save us a lot of time.
Using Bitcoin Cash will not be a hassle to exchange money. Easily transfer any amount through QR code.
We sometimes lose money. Money is stolen from our pockets again but if we use virtual coins instead of such cash then our money will be the most secure.
Employees can easily transfer any type of payment or salary to their account within moments.
Counterfeit money is currently the biggest problem in using cash. While paper money can be easily counterfeited, virtual coins can never be counterfeited. Since there is no ownership of Bitcoin Cash or any type of cryptocurrency.
It is only possible to bring the world market in the hands of cryptocurrency because its transaction is easy and reliable.
The most beneficial aspect for those who will accept the payment is that if the price of cryptocurrency increases, they will get extra profit from it.
If you want to collect the bus fare, you can easily pay the fare through the device by following the digital method, in this case the use of time will increase.
Paper money gets lost when it gets wet in water, sometimes it gets torn. But there will be no such risk if you use digital coins i.e. cryptocurrency.
School-college, electricity bill, gas bill, water bill any bill can be easily transferred in this digital currency.
Difficulty in using cryptocurrency-
The disadvantages of this radical proposal are small. So here are some examples of the disadvantages of using cryptocurrency in business.
A digital wallet is required to store cryptocurrencies. And that wallet is protected by some seed phrase. If we somehow forget that seed phrase or lose the information, we can be in a lot of danger. There is also the possibility of losing money.
The prices of essential commodities in the market are never the same. It tends to vary from time to time. Again, the value of cryptocurrency varies from time to time. So if you buy a computer with 1 BCH. When the price of 1 BCH is 500 USD but later if the price of BCH decreases then the seller will lose. Or if the price of BCH goes up, the buyer will lose.
The government of the country will have to face many problems in tax collection. There is a fixed price for any product in the country. Sometimes a slight increase in price has no effect on it. But the value of any cryptocurrency doubles at times.
It is normal that there will be some problems in any technology. But it is better to do research on how to overcome these problems. After a while, it is almost certain that these digital coins will spread all over the world and cryptocurrency will be used in all fields.
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Hope everybody enjoys the article. If there is any mistake in my writing, please point out the mistakes and look at it with forgiveness. Thanks.
