What are the advantages of using digital currencies for payments?

1. Convenience: Digital currencies are digital and can be used anywhere around the world instantly, eliminating the need to exchange currency or wait for international payments to clear.

2. Lower Fees: Transaction fees associated with digital currencies are typically much lower than traditional payment methods.

3. Security: Cryptocurrencies are typically highly secure, as they employ a variety of encryption, verification and distributed ledger technologies to protect the funds.

4. Accessibility: Digital currencies can be accessed by anyone who has access to the right technology. This makes them ideal for money transfers between countries, for instance.

5. Transparency: All transactions involving a digital currency are permanently recorded in a public ledger, providing transparency and preventing fraud or counterfeiting.

6. Fungible & Divisible: Digital currencies can be split into smaller denominations, making them useful for everyday purchases or large-scale payments and investments. They are also fungible, meaning each unit is identical to any other unit of the same currency, so no money is lost in the transaction.