by Hodler Ash 
In the last year, cryptocurrency has become mainstream. Not only are traditional investors investing in it, but several countries have established bitcoin as an official currency. Crypto is digital currency, and it is transferred person to person using the blockchain. Transactions are recorded on a public ledger, and it is decentralized. It is changing the way people do many things.
Cryptocurrency prices may change in comparison to fiat, but they are becoming more commonly used. Take a look at the top eight ways that crypto is changing the world.
1. It Reduces the Risk of Fraud
One of the biggest issues when it comes to money is fraud. People worry all the time about using their credit cards online or transferring funds in a scam, and cryptocurrency offers an opportunity to reduce fraud quite a bit.
You don’t need to use a third party or a bank account to transfer crypto funds. You can transfer it securely and electronically on the blockchain, and every transaction is decentralized and recorded on the public ledger This greatly reduces the risk of fraud.
2. It Helps with Crowdfunding
In recent years, crowdfunding has become a popular way for different people to raise capital for ideas or products they want to sell. Investors can contribute any amount to help, so people can rely on a lot of investors to contribute less money each. This reduces the risk to the investors but still allows the entrepreneur to raise the capital needed.
Crypto has ICOs, or initial coin offerings, which is a great way to raise capital for a startup. This is making it possible for more people than ever before to make their ideas a reality.
3. It Is Changing the Process of Transferring Money
Although bank wires and transfers have become more efficient, they can still take too long for most people. It can take as much as a week, and longer if the transaction is international. Cryptocurrency transfers are immediate, and it doesn’t matter where you send it.
You can send it to anyone with a crypto wallet and a mobile device, and you don’t have to worry about cryptocurrency prices because you can send it as it is. They don’t require the fees that are charged by banks, and all transactions can be tracked on the blockchain. They are secure and easy to follow.
4. It Can Boost e-Commerce
Another way that cryptocurrency is changing the world is that it can boost e-commerce. Most people make online purchases, as it is a convenient way to shop. However, many people are hesitant to make purchases because they worry about fraud or scams. If they put their credit card number into a fraudulent site, the person on the other end could steal a lot of money.
However, cryptocurrency reduces the risk of fraud both for sellers and for buyers. The transactions are permanent, and they are traceable. In addition, one crypto transaction doesn’t give any information about the person sending the account. This makes more people comfortable to make purchases online.
5. It Supports Advances in Science
Science has progressed a great deal in the last century, but a lot of data and information are stored in institutions and with governments. It is difficult for collective advances because many scientists don’t have access to everything that is out there.
Cryptocurrency and the blockchain are eliminating the middleman and making it possible for everyone to access real-time data. It can incentivize the collection of data on the blockchain so that everyone can work together to make even more advances.
6. It Forces Transparency
There are different companies out there that engage in shady deals, and consumers do not want to work with them. The problem is that it is hard to know the truth about these companies. Taking their word at face value is difficult today, and they can run the numbers in ways that make them look better than they are.
Cryptocurrency is changing all of this because the blockchain cannot be changed. Everything that is recorded is there permanently, and nobody can delete it or overwrite it. This helps to hold companies accountable, and people can learn what they want to know about them. This helps to make the world a better place.
7. It Reduces the Need to Carry Cash
When people travel to another country, it can be very dangerous to carry cash and cards around. Cryptocurrency allows you to leave the cash at home, and you can use it for money transfers and transactions. It is safer than using cash, and there is no exchange fee involved. Thieves can’t steal your digital currency, so you are safer.
8. It Gives People More Control Over Their Money
People are becoming more wary of banks and financial institutions, but they don’t have a lot of options. They can’t keep boxes of cash in their homes, but it can be very stressful when there are any signs of a possible economic problem. Banks control the money, and they have all kinds of rules and regulations. Cryptocurrency gives the control of their money back to the people. There is no middle man, and they can use it as they see fit.
