Cryptocurrency transactions are simpler, cheaper and more secure than most other types of transactions which is one of the main advantages of cryptocurrencies. Everyone can transfer and receive many cryptocurrencies using a basic smartphone app, hardware wallets or exchange wallets. Decentralized cryptocurrencies usually offer secure payment methods because they are based on cryptography and blockchain technology which are among the important benefits of cryptocurrencies. The hash rate is a key factor in cryptographic security. The higher the hash rate, the more computer power is required to hack the network. Bitcoin has the highest hash rate of any network, making it the most protected cryptocurrency.