Cryptocurrency is a virtual or digital form of money. It gives users the most freedom out of every currency ever created, and it offers the most anonymity. Also, the price of cryptocurrency keeps fluctuating, which can be good for trading and investment profits. While cryptocurrency is not used by that many people currently, the number of users is rapidly and steadily growing. As more users adapt to this new form of currency, the markets volatility will decrease and the prices will level themselves out.
Early adopters of this currency revolution have and will continue to reap the biggest rewards, while the market is still volatile and fresh. That is why using these currencies right now gives higher chances for you to earn a profit. You can use cryptocurrency as both an investment and a way to trade. It is becoming more and more popular because of the fundamental benefits the technology offers.
Here are some of the reasons why cryptocurrency is becoming so popular:
- Freedom from regulation: There is no fear of a central governing body that can manipulate and regulate cryptocurrency, currently. While this may one day change, (hopefully never), the decentralized nature of the technology makes this next to impossible. Even if one type of cryptocurrency were to fall victim to big banking cartels or governments, there are hundreds to take its place in an instant.
- Low inflation risks: Inflation is the biggest problem that is faced by all traders, in every market. All fiat currencies have to face a reduction in their power as time goes by. They are less valued as the reserve bank that they come from keeps on printing more money. That is not the case with cryptocurrencies. There are a finite number of cryptocurrencies available for people to use and transfer. Furthermore, there is no way to counterfeit or fraudulently create an established cryptocurrency.
- Low collapsing risks: The fluctuation of the major world currencies mainly depends upon the trade policies set up by the government, as well as the printing practices of the central banks. Their collusion between corrupt governmental regulators and nefarious central banking cartels is what ends up in creating the collapsing risk for currencies. Since cryptocurrencies are not influenced by any government, it is impervious to the risk of collapsing this way.
- Simple to use: The use of cryptocurrencies is very easy to learn. While it may seem complex and daunting to understand, it really isn’t hard to utilize. The complication and confusion only really arises in trying to gain a deeper understanding of how the proof-of-work systems, mining, and the blockchain technologies all work. You don’t really need to understand all that advanced stuff, just to use cryptocurrency. Much like you don’t need to understand binary in order to use a computer! (a mistake I myself made many years ago) :p
- Transactions are safe and cheap: Personal payments can easily be done without any third party intermediation, which makes it safer as well as completely free. However, even if using a third party exchange or processing service, the costs are infinitesimal compared to modern banking and payment processor fees, such as paypal, stripe, etc.
- Easy To carry: You can carry the cryptocurrencies in the digital wallets safely. As these are not the same as hard currency, you will not have to worry about carrying large amounts of money with you. Even a million dollars worth of currency can be carried over these digital platforms, and even one piece of paper. It is much better than physical currencies like gold or cash that you cannot carry around easily or without any real security.
- Secure and Untraceable: There is no way to accurately trace and tie someone to any cryptocurrency ownership or transaction. Unless, of course, someone wants to be traced. The anonymity nature of the technology makes the risks of seizures nearly impossible. Again, cryptocurrencies are not controlled by any governments. This makes them untraceable and easy for anyone to use discreetly.
Cryptocurrency is currently a smart investment, and the major ones will continue to be good investments for a long time coming. There are many reasons to start using them, and nearly no reasons to avoid using them. If you are looking for a good way to make extra money, invest your savings, or just learn something new, cryptocurrency is something you should look into.
As usual, with anything money related, research and make informed decisions, or you will be at risk of failure. So, good luck, keep reading the blog, and happy investing!