The age of digital currency is now underway as more and more people open up to the idea of opening up digital wallets and investing in cryptocurrencies.  One of the main advantages of cryptocurrencies is its decentralized structure.  Unlike other currencies which go through several mediums like banks, cryptocurrencies forego this structure.  Here are some elements that make cryptocurrency better than banks.

Cryptocurrencies are regulated by blockchain technology that takes note and records all transactions through a series of networks.  Unlike banks which are usually the gateway of transactions, blockchain technology allows for peer-to-peer transactions.  This completely eliminates the need for transaction fees and money transfer fees.

Since transactions need not rely on a third party to regulate the transaction, payments can be made any time of the day, any day of the year.  Unlike banks that have a limited window of the transaction and tend to close during holidays, deals via cryptocurrency are not hindered by time nor occasions.

Transactions via cryptocurrencies use a push mechanism wherein a user can send the exact amount they wish to send to a vendor or to a peer.  Bank-issued credit cards, on the other hand, utilize a pull mechanism where vendors gets funds from a person’s bank account.  This push mechanism eliminates multiple payments for a single purchase as well as vendor error.