/ Cryptocurrency

Crypto isn’t as scary as it seems

By Andrew Morrison

For many people, cryptocurrency is a terrifying word. When you’ve paid with cash and cards your entire life, crypto is a mysterious, shady realm that doesn’t make a lot of sense. Bitcoin is scary enough; understanding blockchain and the technology behind it is even more overwhelming.

It’s like your favorite restaurant. Why try that new place down the street with an unfamiliar menu and the potential for disappointment when you have a reliable, tasty go-to option?

There’s a severe lack of trust when it comes to new technology and, on a broader level, fintech companies in general. Much of this damaged trust has been self-inflicted: there are hundreds of startups that raise millions of dollars in days, only to burn out before they can even begin.

However, it’s time to embrace these emerging technologies. When the internet was first introduced, it was an equally-puzzling concept, and it now plays an indispensable role in our daily lives.

Digital currencies are enabled by technology called blockchain, which allows for a decentralized, secure system. Blockchain is a record of transactions across a network of computers. You can add to the ledger, but you can’t go back and edit any earlier transactions without everyone’s approval, making it significantly more fraud-proof than traditional formats.

In reality, these technologies are not nearly as intimidating as they’ve been made out to be. Sure, to understand the underlying processes is more involved, but you really only need to generally grasp its basic applications to be able to discuss and use it.

Currently, when many people hear ‘crypto’ on the news or read it in an article, they automatically tune out and move along. It has earned a reputation of being a risky venture intended only for the wealthy elite and tech experts far smarter than the average person.

It shouldn’t be that way. The more people that can engage in an intelligent conversation about a topic, the more innovation and improvement that will come about.

Cryptocurrencies remain dangerously unstable, and blockchain is only just beginning to be accepted by the wider business world. But these technologies will only become more central to daily life, and so removing the negative connotations is increasingly important.

After all, blockchain has enabled improvements that simply were not impossible before. Take, for example, Find.Exchange; one such company that has embraced blockchain’s potential to reinvent an outdated market, in their case, the money transfer system. Among other functions, blockchain allows you to send money cheaper, safer, and faster.

Rather than going through numerous intermediaries, each of which takes a fee and adds to the waiting time, the blockchain is its own regulator. For the crypto enthusiasts, there’s plenty of ways to get involved with Find.Exchange’s token sale. And if you’re still uneasy with blockchain technology, Find.Exchange makes it easy, taking care of all that behind-the-scenes.

Ultimately, it’s important to realize that these technologies are created to help us. They’re not meant to confuse or scam, they’re built to improve our lives.

The technology of the future is here. It’s time to embrace it.

Sam Allen

Sam Allen

We find and compare the best exchange rates between banks, FX bureaus, post office, supermarkets and online money providers. But we're working on something even better...

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