a standard international bank transfer would take up to four days and it costs money to correspond to banks exchange rates and fees would make a transfer of two hundred fifty euros twenty eight euros more expensive whereas crypto currency is transferred wallet to wallet and incurs almost no extra costs. there's no bank involved no state no central bank and no privacy concerns. crypto currency isn't logged in any central location every transaction is replicated on millions of computers and recorded in a block chain that can be accessed by all users but the transactions are anonymous that means kitty could be buying drugs or weapons without the police knowing that's been damaging to crypto currencies image there also security concerns in august twenty sixth hackers stole fifty eight million euros worth of bitcoins causing the price to plunge twenty percent there are now almost two thousand crypto currencies