A cryptocurrency is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency.
10 Reasons you should invest in cryptocurrency
Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies .
10 Reasons you should invest in cryptocurrency
1. It’s Decentralized, meaning nobody can freeze accounts or take any other unilateral action. This means that you have full control over your money 24/7/365 without anybody interfering in that freedom.
2. You can use it everywhere in the world
There aren’t any international boundaries which regulate cryptocurrencies‘ usage and transactions run pretty much anywhere you want them to, provided there an internet connection on both ends (the sender’s and the recipient’s)
3. It is private
Nobody has access to your personal data, unless you voluntarily decide to make it public. Your name or any other identifying information aren’t linked with the transactions you perform.
4. Transactions are fast and cheap
Transactions are fast and cheap, usually they take less than an hour and fees can be as little as $0.01 (that is one cent).
5. You can exchange crypto currencies on exchanges
These options allow for trade in different crypto-currencies such as bitcoin , ethereum, zcash etc. There are multiple exchanges around the world which provide such service and more continue to appear as regulations on them become less stringent globally .
The most popular ones at the moment are Binance, Bittrex , Bitfinex etc.
6. Cryptocurrencies can’t be faked
This is because of cryptography which ensures authenticity in transactions and the decentralized nature of the currency which makes it impossible for anyone to control or counterfeit.
7. Let your money grow
You can let your money grow without even lifting a finger investing in cryptocurrency requires no effort whatsoever on your part if you don’t want it to do so.
Trading bots, however, use algorithms to analyze market actions and signal potential buyers automatically when they trade digital currencies across exchanges (this is usually referred to as “signal trading”).
8. No payment delays
There aren’t any payment delays like you would get with credit cards or Paypal counters . Once the funds are sent, they are transferred to the recipient’s account.
9. Easy to buy and sell
Cryptocurrencies have high liquidity which means that it is easy to buy and sell them in exchange for your local currency if you wish so. This can be an issue if you are selling cryptocurrencies, but buying usually isn’t a problem since there are so many different exchanges .
Liquidity is measured by volume, with “high” being an amount traded within 24 hours of buying or selling.
10. store your funds securely
There are several cryptocurrency wallets available today which allow you to store your funds securely on your computer or mobile device using encryption technology which protects against unauthorized access.
You can create one wallet for each cryptocurrency (Bitcoin, Ethereum etc) or use an app like Exodus , Jaxx Liberty etc. to hold multiple currencies in one place.
