Digital Currencies Could Turn Out to be More Convenient for Global Payments

Digital Currencies Could Turn Out to be More Convenient for Global Payments

New York, NY – Digital currencies have today grown to the extent that there are now over a thousand bitcoin ATMs operating across the world. But can they fulfill the expectations of those who are looking for a brave new, futuristic world running on digital currencies?

At the ground level, crypto currencies can prove to be handy with cross-border payments, saving money on costly foreign exchange services. For economies that are less than stable, digital currencies can also offer an alternative to the struggling main currency, though they aren’t as mainstream as sovereign money.

“Compared to cards and mainstream payments, digital currency is also a real-time way of transacting with a distributed ledger. It can turn out to be eventually more convenient to users,” said Strahan McNeil.

There is also the prospect of a single currency system that can be used the world over, doing away with fluctuating foreign exchange. Some other aspects of digital currencies deserve special mention. One is that digital wallets will have to become more secure in the future. Secondly, the disruptive nature of crypto currencies stems from their transparent method of exchange via public ledgers. If they become popular, this will impact traditional banking.

Strahan McNeil Partners is a New York headquartered finance firm which operates a global network of over 560 finance professionals redefining their traditional role as ‘financial technicians’. The firm offers specialized financial services that handles audits, restructuring, structured finance, and mergers and acquisitions. Focused on turning knowledge into value and advantage for its clients, Strahan McNeil Partners provides clients with wide ranging financial and accounting services that meet globally consistent norms.

Strahan McNeil Partners is today playing a new role in the capital markets, supporting positive reforms that would strengthen credibility and confidence. The firm actively takes up social responsibility, making it part of its central, working agenda so as to make a real difference to the communities it serves.

For more information, please visit: www.strahanmcneil.com

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