Emirex: Why choosing crypto over fiat?
Do you know that although the cryptocurrency is not regulated by the central bank like fiat currency, it is becoming the next big thing in the financial markets? The security of exchanging cryptocurrency was questioned before but platforms like Emirex are removing the barriers by developing more sophisticated platforms. The best thing about Emirex is that it is based in Dubai and ready to enter the market of the Middle East which is considered to be a potential user base in the global perspective. Since the 2008 global financial crisis, western countries started to limit their trading and exchange activities using strong regulations. International money settlements became slow and costly. Banking and credit systems have to implement powerful firewalls making the service difficult to use. When you send money using regular banking channels you are charged extra. So, why Emirex is developing a local cryptosystem over fiat systems?
We already know that the Middle East is a large financial hub in the world. Also, most of the developed nations across the world depend on countries like UAE, Saudi Arabia, Iran, Qatar, etc as a large amount of oil is stocked in the region. These countries hold a large amount of wealth and monetary strength making it a suitable candidate for any business to grow. However, according to the statistical data, only 14% of the adults in the region had an account at a financial institution. This means contemporary financial services have to provide additional experiences to the users of the Middle East to gain the attention of the wealthy people of this region. Emirex is considering the futuristic concept of Cryptocurrency and will make the stock, bond, commodity, and currency inside the ecosystem to a tokenized version. So that users can trade and exchange peer-to-peer with ease, safe, and cheap.
To understand the decision of Emirex group to develop a regional cryptocurrency platform and slowly capture the global markets we need to unearth some of the pros of the cryptocurrency over fiat that are considered by Emirex developers:
• Inflation is a big factor for fiat currency. Unlike fiat currency, the supply of cryptocurrency is not unlimited. So inflation can be controlled. Again hyperinflation can be easily avoided as the government will have no direct authority over crypto and blockchain and rapid printing of currency can be reduced. Emirex will provide wealth management services that can be used as a hedge against inflation.
• Global Access of cryptocurrency is one major factor that will shift the financial markets towards the new technology. Emirex is considering global access of their tokens which will make trading and transaction cheaper and easy than regular currencies. With the global access users of Emirex can easily manage liquidity, trade, hedge, and process funds with a very lower transaction rate.
• Easily transferable option is something will attract more users to the cryptocurrency platforms. Unfortunately, some of the platforms developed before had the problem of security and weaker usability. Emirex will provide advanced IT security measures complying with international standards.
• Banking fee on the regular channel is a big issue. When local customers at the Middle East transfer big money they find the fees like transfer fee, maintenance fee, international transaction fee, etc. This is a burden for the users. Fortunately, Emirex will not only reduce the fees but also provide reward programs to the users which will guide the users of fiat to the cryptocurrency and blockchain platforms in the future.
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BitcoinTalk User: BlakeMye
Emirex ID : ID0422012009
BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=2100111
Telegram: @Goldfish333
Website link : https://emirex.com/
Giveaway Link: http://bit.ly/soficobnrul
Instagram link: https://www.instagram.com/emirex_official/
Facebook link: https://www.facebook.com/emirex.official/
Telegram link: https://t.me/joinchat/DqGU61OCcKlwpg073YO0fA
Twitter link: https://twitter.com/EMIREX_OFFICIAL