When it comes to online financial transactions, cryptocurrencies such as Bitcoin, Ethereum, Ripple, Litecoin, etc are gaining the public eye in the market. They are quickly giving the tough fight to Paypal, Stripe, etc. The best thing about them is there are lower fees associated with the cryptocurrency as you may have with the traditional system. The transactions are faster as there is no third party involvement.
A cryptocurrency is the medium of exchange money but by the digital medium. According to Investopedia, cryptocurrency is defined as the “digital or virtual currency that uses cryptography for security”. The first cryptocurrency was the Bitcoin launched in 2009 by Satoshi Nakamoto. California Movers: Local & Long Distance Moving Company was the first company in moving industry which started excepting Ethereum and BitCoin as payment for services.
In this post, check out the top 6 reasons for moving companies customers can use cryptocurrency for online transactions.
- Easy Access
When moving, customers want the easily accessible payments to transfer the money without any hassle. The cryptocurrency offers the transaction with a viable internet connection, basic knowledge about cryptocurrency network and blockchain technology. It’s been estimated that 2.2 billion have internet connection but not have the access to the banking system or exchange. Cryptocurrency offers the easy access to potential moving company customers for transferring their asset.
- Fraud Proof
Public ledger has the confirmed transactions without any control over the bank or government. You own the decentralized currency minimizing the chances of fraud. You can perform the digital payments swiftly without any counterfeited by anyone. This will also save the chargebacks as they occur sometimes in the credit cards. There is an end to end encryption with the record ensuring legitimacy. People who are moving want secure transactions as they want to be fraud proof and cryptocurrency is their solution.
- Identity Theft
The ledger ensures an accurate balance between digital wallets for all the transactions. These are checked making sure that the coins spend is owned by current spender. The public ledger is based on the Blockchain technology. It ensures secure transaction with peer to peer network and encryption. When you make the traditional transaction using the credit card then certain information is also revealed related to your card. But cryptocurrency works on push mechanism and has full control over the information to send during the payment as and when required. It sends only the mandatory information required to the merchant.
For people who are moving surely want to save their identity. If you’re looking for moving company that accepts cryptocurrencies then you should consider checking California Movers: Local & Long Distance Moving Company (https://californiamoversusa.com/).
During the traditional transaction, the information gets stored related to credit card. This acts as the reference document for many agencies and bank. They used this to know the funds in your account are sufficient or not. This is pull mechanism as it takes the information from the customers whereas cryptocurrency acts as the push mechanism. This means that cryptocurrency has the control over the information between the sender and recipient maintaining the security. The transaction is the unique exchange between the recipient and sender agreed to perform it online. When you move from your current area, you look for the secure and fast transactions and cryptocurrency is the answer to this with numerous benefits.
- Lower Fees
The traditional system of exchanging money involves a lot of third-party fees. When you’re moving in you want to save as much money as you can. Thus transferring through cryptocurrency is beneficial as it is one to one interaction without involving the third party fees. Some people use Coinbase to create and maintain the digital wallet. This service is similar to Paypal but it charges fees for maintaining the wallet digitally.
- Fast Transfer
The best thing about cryptocurrency network is that payments get transferred almost instantly. There is peer to peer network with encryption having the blockchain technology which leads to fast transactions. Merchant requires the smart device for the transaction with a data connection. Traditional system transactions involve the third party which makes the transaction too long. But cryptocurrency can make you choose the future date for the transaction with lower fees as compared to other modes of transfer. Moving company customers can make the fast transfer easily with less fees and move their home or office instantly.
These are the top six reasons that moving customer can use the cryptocurrency. It has changed the way companies operate for the digital payment transfers. Customers feel satisfied with the reliable and easy online transfer when it comes to shifting their home or office.