No Third-Party Involvement
The first advantage of Cryptocurrency is its well-known “No Third-Party Involvement.
There’s always a pattern when using traditional money to buy yourself a new property, setting up your own business, or buying a new car.
One way or another, the process requires a third-party involvement. We are talking lawyers, owners and some others external factors such as, delays, documentations and extra fees.
This in general will consume unnecessary time, money and energy to the point of giving up.
A good example of this scenario would be you buying a new house. You need to pay the Financial Advisor who in general, advise your financial statement to ensure you are have a stable income.
Some property requires you to pay for a booking fee to “lock” your house of choice and many other add-ons. In short, there’s a lot of third-involvement and it charges you even before you own the property.
But that is not the case with Cryptocurrency. As mentioned previously, the blockchain system is similar to self-rights database.
The contract is capable of being design and enforces to remove any involvement of the third-party mentioned before. Moreover, the contract can be customized to complete a certain transaction at a set date at a fraction of any expenses.
Yes, you can eliminate any third-party involvement options, in fact, you don”t even need one.
In short, you are in control of your own money using Cryptocurrency. This is what we call the “Decentralized” system, which means there’s no “Central or Federal Government” regulating it for you.
Your transaction is practically immune to any influence from your government and its distinct manipulation.
So, it is possible to be able to pay and receive money anywhere in the world at any given time.
That transaction is done with minimum processing fees, thus preventing users from having to pay extra charges from banks or any financial institutions.