Even despite the total crypto market collapse in spring of 2022, it did not stop the industry from development, and now we can see many new projects emerging in the market. Now that the market is down and crypto live prices are low, it feels like an excellent time to buy digital assets and hold them long-term.
What is the difference between crypto assets and fiat money? First of all, digital currencies have no physical implementation, unlike paper money. Another crucial thing is price. While central banks control fiat money emissions and rates, crypto exchanges rates do not depend on government decisions.
Like real money, cryptocurrencies are used for settlements between companies and people. More and more online shops are starting to accept digital money. The same refers to real estate companies, travel firms, etc.
What are the Advantages of Crypto Assets over Fiat?
Here are some reasons why people buy crypto:
- Low commissions for money transfers compared with bank services.
- Lightning-fast transactions worldwide with no middlemen.
- No restrictions and limits – you can transfer as much money as you wish.
- No regulation from the bank.
- All transactions are fixed in a blockchain. Transactions can’t be hidden or deleted.
Since cryptocurrency live prices are highly volatile, crypto assets are a good investment option. Crypto holders generate income during one day by applying short-term trading strategies and, for weeks or months, investing in the long run. That is another advantage of crypto assets over fiat money.
You can join the crypto world by buying digital coins on one of the popular crypto exchanges like Binance, WhiteBIT, KuCoin and others. These platforms officially operate in the market and offer various trading tools and earning opportunities for users. The WhiteBIT crypto exchange allows depositing fiat money and buying digital assets with dollars, euros, and pounds. In the similar way, you can convert your crypto holdings into fiat and withdraw funds directly to your bank card.
WhiteBIT guarantees users’ funds safety and provides quality service for traders and investors. Visit the WhiteBIT website and blog to learn more about this exchange.