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Why Cryptocurrency over Fiat?

Few easy to understand advantages

  • Security
  • Anonymity
  • Trustless Transactions
First, let's define cryptocurrency. Cryptocurrency - a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority.

Security

I don't have to hope payments are sent or received, I can know they have been, almost instantaneously on a ledger that's verified by a web of computers all over the entire world. In order to pull back a payment that's received, somebody would have to destroy all the ledger copies that said it did, all over the entire world. This is basically impossible. Anything that's verifiable on the blockchain DID in fact happen, which means money can't be pulled back out after services are rendered, protecting the content creators from chargeback fraud that plagues the industry.

Anonymity

When using cryptocurrency, your identity is concealed unless you reveal your wallet address publicly. Your wallet is a string of characters that is unique, however there is nothing identifying in those characters that spell out any personal information whatsoever. You can buy BNB through an exchange where your identity is exposed, however once you leave that exchange nobody else besides that exchange knows the wallet is yours. You can then exchange your BNB for LOF and use it to buy content completely anonymous and store the NFT's in your wallet.

Trustless Transactions

Smart contract - A smart contract is a self-executing contract, with the terms of the agreement between buyer and seller being directly written into lines of code.
Using Smart contracts means the code is the middle man and neither side can convince code to change their mind mid-transaction. It's a trustless middle man that shall execute the deal struck between the two parties based on the agreed terms (price, time, amount, etc). It is worth noting, this guarantee is only on digital agreements of digital property. Physical asset transactions still rely on both parties to conclude the deal, the smart contract is still a verifiable binding agreement that can be used as proof if needed.