They are only found on computers, there are no coins, no securities, and no cryptocurrencies.
Cryptocurrency has no central computer or server and is usually distributed across a network of thousands of computers. Networked without a central server is called decentralized networks
Privacy and Transparency
This means that you do not have to give any personal information to own and use a cryptocurrency and there are no rules about who can own or use cryptocurrencies and others cannot be seen because it has very high privacy and it rejects all forms of control and guidance currently and may change the situation a little in the future to comply with transparency Required in the financial system, especially since the transactions that are carried out are subject to traceability.
Once a cryptocurrency transfer has been authorized, this cannot be reversed, as is the case with “charge-back” transactions that credit card companies allow. This is a hedge against fraud that requires a specific agreement between the buyer and seller regarding the refunds in the event of an error or return policy.
One of the great advantages of cryptocurrencies is that unless you have delegated your portfolio management to a third-party service, you are the only owner of your wallet’s cryptographic keys and no one has the authority to freeze or disable it.
Each user has special codes that prevent their information from being accessed by other users and this is called full encryption and it is difficult for it to be hacked.
Very Little Transfer Fees
Digital currency trading platforms and the implementation of buying and selling operations require a cut off of certain fees in addition to some services of digital portfolios require some fees, but in the end, the service costs are much lower than the costs of banks and transfers on the ground.
Known to All Countries of the World
Cryptocurrencies can be sent and received to all parts of the world with ease. Cryptocurrencies are unlimited currencies and anyone in the world can deal with it because it is a global currency.
Facilitating Global Trade
Inherently encrypted transactions are not subject to exchange rates, interest rates, transaction fees, or other fees imposed by a particular country. Using the Blockchain mechanism, cross-border transfers and transactions can be made without complications due to currency exchange rate fluctuations.
Miscellaneous Digital Currencies
Some digital currencies are trying to be an alternative to the dollar and monetary currencies, others are trying to develop the global banking and financial system through merger and cooperation, others are designed to accelerate certain operations in the sectors of the economy including oil, gas and other industries and adopt digitization and there are more than 1500 digital currencies.