Faster, Cheaper Payment Solution
Huincoin transactions can occur at any time, are fast and have lower fees. The average Huincoin transaction is executed in 10 minutes with fees for simple P2P transfers to remittances coming in at under 1%. This is due in large part to the fact that traditional third-party financial institutions like banks are removed from the transaction process. Merchants and individuals using Huincoins are not restrained by set banking hours, withdrawal limits or long transaction execution periods before funds become available.
Safeguards Against Currency Manipulation
Huincoin is not owned or controlled by a country or governing body. Additionally, unlike many other forms of currency, the number of Huincoins that will be issued is finite, exactly 21 million. The benefit of this lack of ownership and finite amount is that the Huincoin supply cannot be artificially manipulated.
When it comes to fiat currency, governments can easily print additional paper or mint coins, devaluing existing money in circulation and causing inflation. The decentralized nature of Huincoin decreases monetary concerns and largely leaves fluctuations in value up to natural supply and demand economics.
Greater Consumer Protections
The use of Huincoin as an alternative to fiat currency provides protection against the downside that can occur with traditional bank accounts. This includes the threat of bank failure or skimming. In the event of a bank failure, a customer can face frozen bank accounts while liquidation plans or bailouts are hashed out. In some countries, traditional bank customers may even find that banks will skim money off of customer’s accounts in order to to remain solvent. This occurred during the banking crisis faced by Cyprus in 2013. With Huincoin, individuals remain in full control of when and how their assets are retrieved, transferred and spent. Essentially, digital currency users become their own bank.
Greater Transparency
Because all Huincoin transactions are permanently recorded on the blockchain, all transactions are public and traceable. The balance associated with each address is also part of the public record. The blockchain makes Huincoin much more transparent than many other monetary systems.
Private and Secure
Although all Huincoin transaction details are stored publicly on the blockchain, the identities of the users involved remain relatively anonymous. Because payments can be made without including personal identification information, Huincoin provides inherent security against identity theft. Additionally, there
is no risk of being charged twice or of fraudulent charges being assessed to your wallet thanks to the blockchain, which monitors unique coin addresses and eliminates the possibility of paying multiple people with the same Huincoin.
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