Blockchain Explosion: You Cannot Miss These Benefits

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Blockchain

Between 2012 and the start of 2022, Bitcoin alone has gained immensely, hitting about 195,500% in value growth. As an investor, this return on investment is unmatched. Even for people who bought stocks or properties around that time, it is unlikely they returned such a high return of investments. So, would you want to get a similar return on investment? Well, it is not late.

The impressive return on investment is not the only reason why there has been an explosion of blockchain and crypto use. Here are other benefits of blockchain that make it attractive and that you should not miss.

Offers You a Perfect Opportunity to Send Funds with No Limitations

Today, one of the common methods of sending money abroad is through bank transfers. This method involves asking your bank to transfer funds to a target account either locally or in a different country. This method comes with major challenges and limitations, including:

  • Most banks do not work during weekends, at night and public holidays.
  • The cost of sending funds using bank transfers is very high.
  • There is no confidentiality when sending funds through bank transfers.
  • It takes a very long time to process transactions. At times, this can extend to days or weeks.

All of these challenges can be addressed using blockchain. When you use blockchain technology, the transactions are peer-to-peer. This means that no third party, such as a bank, is involved. Again, blockchain technology is decentralised and not focused on profit optimization. Therefore, transactions are completed instantly and at a lower cost compared to wire transfers.

Blockchain Offers the Best opportunity to Make Passive Income 

The discovery of blockchain added a new channel that can help people to generate passive income. Indeed, there are several, and investors indicate that the returns are way higher than other methods, such as trading stocks. Some of the common methods of making passive income with cryptos include staking, yield farming, and buying & holding.

The simplest method to start making passive income is staking through a decentralised finance (DeFi) platform. Here, you only need to identify the preferred platform and send your coins. The DeFi platform will then pool the coins with those from other stakers to increase the chances of getting selected to confirm transactions. In return, you are rewarded with a portion of the funds that users pay for making transactions on the network.

Note that to start staking, you need to go for coins based on the proof of stake (POS) protocol. Good examples include Cardano (ADA) and Ethereum (ETH). Although you can stake directly from your wallet, working with a professional platform, such as hi.com, is easier. Here, you only need to send them your coins and expect up to 40% in returns.

An Excellent Way to Protect Your Assets  

This list cannot be complete without mentioning how the blockchain works in protecting personal assets. Instead of simply storing cash in your bank account, where it can easily be frozen by a court order or credit card where criminals can easily syphon it, blockchain offers a safer option. When you buy cryptos, no one other than you can gain access. You only need to keep your private keys as private as possible.

These benefits of blockchain technology and cryptos have made a lot of people develop interest. Indeed, these benefits are only unfolding, and you are likely to enjoy even more in the coming years. For example, the prices of most coins have been on an uptrend, generating impressive returns on investment. Remember that no matter your goal with blockchain and cryptos, hi can help you achieve it. They simplify the process of buying, sending, and trading cryptos for all interested users.

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