The cryptocurrency market is booming. Millions of users are now trading Bitcoin and Altcoins on a daily basis. And thousands of people join this excellent market every day. And the reason behind this massive growth in numbers is the increased usability of cryptocurrency. You can now buy more things than ever with Bitcoin and other Altcoin. From cars, video games, furniture, and now Swiss-made products, you can get everything using crypto.
And when you use cryptocurrency to purchase something from the market, there are few advantages, and today we will discuss a few of them in this blog.
Elimination of Banking Fees
With a conventional payment system, no matter how small the transaction is, at the end of the year, the bank will charge you for initiating the transaction. And no one likes to pay extra or their hard-earned money. The advent of crypto has changed this century-old pattern. Though the practice is not entirely abandoned, the charges are smaller if you are paying with crypto. How much? Well, first, you need to know how much your bank charges to set the comparison. If you are using a Credit or Debit card, the bank can charge you about three to five percent. And if you calculate that every year, then you will realize it is a lot. On the other hand, completing transactions with cryptocurrency will charge you about one percent or even lower.
Now to avoid the extra charge, the consumer is leaning towards cash payment. However, that’s not an ideal choice because what if you are shopping online? And also, during the pandemic, you have to avoid going out as low as possible. Hence most of the time, you will pay online, and therefore you are being charged more. Cryptocurrencies allow consumers to continue using cashless pay methods and reduce the amount spent on transaction fees. And we don’t want you to pay the extra charges. Therefore, for your convenience, you can use your cryptocurrency to make payments at Swissmade Direct and get the best Swiss-made products.
Now to avoid the extra charge, the consumer is leaning towards cash payment. However, that’s not an ideal choice because what if you are shopping online? And also, during the pandemic, you have to avoid going out as low as possible. Hence most of the time, you will pay online, and therefore you are being charged more. Cryptocurrencies allow consumers to continue using cashless pay methods and reduce the amount spent on transaction fees. And we don’t want you to pay the extra charges. Therefore, for your convenience, you can use your cryptocurrency to make payments at Swissmade Direct.
There are more than 190+ countries in the world. And needless to say, their financial institutions are different, complex and the currency is different. These things are problems for regular customers. Why? Well, most countries do not allow their citizens to initiate transactions in foreign currency. Though there’s an option to use a third party, they will charge you for their service.
On the other hand, cryptocurrency is not centralized and is not regulated by one county or one institution. Hence no one will block you from doing transactions with other countries. And the best part is there is no charge at all! If you have been facing problems or being overcharged by your banks for shopping with us, then you can use cryptocurrencies to avoid restrictions and expensive charges.
Lower risk of fraud
Cybersecurity is a concern for everyone. So do credit card and debit card frauds. When you place an order with a card, you are giving away important information. And most of the organization works tirelessly to ensure the data is safe and secure. However, all of these cybersecurity or fraud issues can be avoided through crypto transactions.
Behind a crypto payment, there’s no name and bank account. It is just a wallet-to-wallet transaction initiated by you, processed without any centralized institution. The blockchain technology behind Cryptocurrency is sophisticated and robust, which is why researchers are working to bring them into another aspect of digital life. For now, if you are looking for a safe and secure way of shopping online, we are here for help.
The benefits of cryptocurrencies are many. However, for an online shopper, the above three will affect you more. Cryptocurrency is growing, and the technology is evolving at a rapid speed to bring more benefits and close loopholes if there are any. And if you like to shop securely, safely, and without spending on overcharges by banks, then Swissmade Direct wants you on board. Swiss-made products were never more accessible.