Vitalik Buterin, co-inventor of the second largest cryptocurrency Ethereum has noted that the dominating factors of digital currencies are constantly being “underrated” when likened to legal tenders, notwithstanding its flexibility for various kinds of transactions.
Buterin published a Twitter statement underlining the current exceptional convenience that cryptocurrency has presented in different business areas ranging from the improvement of trades between nations as well as the application of far-reaching donations.
“People continue to underrate how often cryptocurrency payments are superior not even because of censorship but just because they’re so much more convenient. Big boost to international business and charity, and sometimes even payments within countries.”
Cryptocurrency use has continued to thrive across various nations of the world with the innovative introduction of credit cards available to Argentina residents, courtesy of the alliance between Binance and Mastercard.
While digital currency seems to have more benefits when compared to legal tender, a number of people still have reservations owing to the unstable nature of its value as well as the risks attached to its pattern of regulation.
A data analysis published by the PYMNTS protocol in July with the title “Paying With Cryptocurrency” revealed that about 85% of reviewed companies with a yearly revenue accrual of $1 billion have embraced the crypto trade pattern to improve their customer base.