Cryptocurrency in Network Marketing: An Overview

1. Cryptocurrency in Network Marketing: An Overview Cryptocurrency seems to be the latest buzzword these days. Read on to know how it can help your business. Cryptocurrency has gained a lot of hype these days. Also referred to as digital money, it is a medium of currency exchange based on the system of cryptology that makes transactions secure and controls the creation of additional units of the currency. Most MLM companies today are using cryptocurrency to do business. Cryptocurrency is a type of virtual currency that works over the internet in peer to peer networks. It is widely accepted all across the world today. As per experts, crypto currency is the future in the software industry. Cryptocurrencies are stored in e-wallets and are available with different options such as e-transfers etc. Bitcoin is the first decentralized cryptocurrency. Since then, there are several cryptocurrencies that have been created. They are also referred to as altcoins. These currencies can be saved, spent or invested. Trading with bitcoins was regarded as risky, but the current trends reveal that it has become a huge hit today. Why is Bitcoin so popular? Bitcoin trading is popular due to several reasons:

2. 1.Low inflation risk Inflation is a big issue for business owners as all the currencies lose a bit of their purchasing power when the banks print more money. With bitcoin minting system having released just a few million bitcoins, there is hardly any effect of inflation on them. 2.Low collapse risk The government trade policies cause fluctuations in currencies, which can at times lead to hyperinflation or even the collapse of a currency. Bitcoin, however, is a virtual universal currency and is not regulated by the government. 3.Safe and simple Bitcoin payments happen between peer-to-peer without the intervention of any intermediary. This makes it cheap and simple. 4.Easy to carry Cryptocurrencies worth millions of dollars can be easily carried in the pocket, in a memory stick. This, however, cannot be done with cash or gold. 5.Not traceable Bitcoin is not regulated by the government, so there is no risk of any seizure. 6.No international boundaries There are no restrictions for trading and a trader in one country can easily trade with people in other countries. 7.No commissions All bitcoin trading are digitally recorded and there are no charges levied by the bank, which helps enhance the profit potential. How to procure bitcoins? Buy on an exchange - There are many "bitcoin exchanges" available today that allow people to sell or buy bitcoins using different currencies. Transfers - Bitcoins can be transferred from one person to another through their computers or mobile apps, just as in sending cash digitally. Mining - People can create bitcoins with the help of computers.

3. Bitcoins are stored in "Digital Wallet." They are mostly present on a user's computer or in the cloud. To send bitcoins, you need to have two things - a private key and a bitcoin address. The address is generated randomly using a sequence of numbers and letters. The private key is a series of a combination of numbers and letters. However, this must be kept personal unlike the bitcoin address. Bitcoin enables decentralized economic transactions. In the MLM industry, this helps reduce the complications of financial issues. It also helps the customers in payment processing with high speed and top security. These aspects of bitcoin make it invaluable in the MLM sector. It is regarded as the most technologically advanced online payment system. Why to use bitcoin integrated MLM software? As already mentioned, bitcoin offers a simple and convenient channel for peer- to-peer transactions. Here are some important reasons why a network marketer should use bitcoin integrated MLM software. 1.Quick transactions In case you don’t already know, bitcoin can be transferred instantly over the internet. No fraud risk

4. Only a bitcoin owner can send payments to the intended recipients. This eliminates any element of risk. This is extremely helpful for network marketers. 2.Secure data All of us would agree that the internet is not always the best place for personal data. With bitcoin, people do not have to reveal any personal information. 3.International payments Bitcoin is accepted the world over and you can make payments to any one in any part of the world. 4.Easy to track The network permanently logs every transaction. The new age e-currency has truly revolutionized the business landscape. It is no surprise then that an MLM software equipped with advanced online payment methods have become integral for the success of an MLM company. This is where software companies like DNB MLM Software Solutions can help network marketers immensely. With an extensive experience of more than 7 years, we offer everything that a network marketing company would require to meet all kinds of requirements and challenges in the software industry. Our customized solution have been fuelling the growth of several MLM companies worldwide over the years, thus taking them a step closer to their goals.