Over the course of payment history, nations worldwide had their differing
methods of payments. We had bartering or money-goods exchange systems. It
wasn't until traders visited other countries that they found out how to trade
items with one another.
Thanks to various innovations and developments, we now have multiple
methods to trade and exchange moneys worldwide.
But even with all the upgrades, we are still experiencing problems doing
transactions across the globe. There are always currency issues, bank
authorisations, unacceptable payment methods and some other varying issues
experienced by business owners or travellers abroad.
Fact is, not all countries have similar financial procedures. Your card or
currency may not be accepted by other countries and that is a major setback
for some people. For example, most online banking, payment or cash system
requires additional processing fees for their service.
However, cryptocurrencies are not bound by any of the exchange rates,
transaction charges, the interest rates or any other fees applied by any
countries. They can be used at any time, in any part of the world, without
experiencing any problems.
It also saves a lot of your time and money by reducing additional spending over
transferring money from and to multiple countries. Which means
cryptocurrency operates on an international platform which in turn make
transactions easier than your average bank to bank transfer.
Cryptocurrencies have three important properties: