cryptocoinsnews.com / P. H. MADORE / 23/07/2015

Cryptocurrencies like Bitcoin can improve lives. That’s an undisputable fact that we have seen evidence for over and over again. Below we have listed five ways cryptocurrency improves lives. Let us know in the comment field how you think cryptocurrencies improve lives.

1. Privacy

Many who choose Bitcoin and other cryptocurrencies as a means of exchange and storage would otherwise choose cash in daily life. Cash doesn’t know anything about its holder. On the face this may sound nefarious, but in fact it’s more a protective measure based on experience for most. For others, it’s just a matter of comfort.

Whatever the reason, users seek privacy. Every time a credit card is swiped, personal information is entered into databases. It is hard to believe that such databases are all secure enough to protect this information from bad actors, especially in light of recent events such as the Target breach. Even those who outsource their security and payment processing, occasionally compromise user privacy inadvertently when their vendors are compromised. If you’re looking for a version of cash that can be spent in the same way that credit cards are used online, cryptocurrencies can help you. There are some which focus specifically on privacy and obfuscation of user data, such as Dash.