User:Bratublemde
== What is the reason for increased interest in cryptocurrencies?
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In this era of digitalization of the world, technology is playing a very crucial role. Everything nowadays is being done digitally, which gives human beings a chance to enhance skills, productivity, and many more. Meetings, classes, transactions are now being done remotely. Human beings are innovating a lot of new ways to lessen the effort and divide the workload. The innovation went to a whole new level when a new form of currency was introduced to the world. Cryptocurrency is a digital alternative to paper currency.
Cryptocurrency is a digital medium of exchange, non-governmental relying completely on cryptography. Cryptography is a type of security that makes it impossible to fake your digital currency. There are many types of Cryptocurrency, Bitcoin, Dogecoin, Litecoin, etc. Bitcoin was the first form of Cryptocurrency introduced to the world back in 2009 by a group known by a PEN Name Satoshi Nakamoto. By the time Bitcoin became the most popular cryptocurrency in just a decade.
People started investing in crypto, but not immediately after the launch. It was a slow process of being too popular among traders. There are many advantages of Cryptocurrency, one being the ease of transferring the funds between two parties and not only that but securely. A very basic example of this could be that you carry your wallet everywhere with money in it maybe you have coins in your pocket as well, but there’s a very good chance that you lose it. Also, wallets limit your money to a particular level i.e., you cannot carry a large amount of money in your pocket. You can carry a credit card or Debit Card in your pocket, but again maybe a chance you lose it. But crypto Currency makes it easier for you. It is a secure way of transaction where you will get a key which can be a private or public key which will be associated with a “tokens” represented by ledger entries in the system. They are secured by a huge amount of encryptions not to be misused or stolen by anyone. Each key has a unique value so that only you can make transactions throughout.
Along with pros, there are some cons of this digital currency, such as being a non-governmental way of exchange. It can be used for illegal activities, including money laundering and tax evasion. Also, you invest a huge amount of money to buy it, but not many companies, even the government, allow it to be a reliable mode of exchange.
Apart from all these cons, people invest in crypto because of many reasons. One being the inflation rate of US dollars which rises by approximately 2% every year. Another reason is that few companies like PayPal announced to make their users buy, sell and hold bitcoins and provide an opportunity to make transactions using the same.
To recapitulate, cryptocurrency can be a very convenient way of transaction in the future if accepted widely because of its high level of security and popularity. But deal only through a good site like crypto Romania.
