Why Cryptocurrency Is The Future

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Cryptocurrency is a digital currency. Digital currency is any kind of currency which is in electronic form and exchanges through digital means. Nowadays those are popular in most of the countries.  These currencies are decentralized based on blockchain technology. Cryptocurrency are not issued by a central authority. Digital currency stores values.

Advantages of cryptocurrency

  • Easy to transfer from one party to another without an intermediary party. These transfers are secured by public keys and private keys.
  • Fund transferring fees are minimum, especially in international transfers.
  • Cryptocurrency transactions process 24 hours a day, seven days a week at the same speed.
  • Prevention of Inflation

Disadvantages of cryptocurrency

  • Difficulty on the understanding to how to use them.
  • Blockchain transactions are expensive.
  • Drastic price fluctuations of cryptocurrency
  • Can be used for illegal activities

Top 10 cryptocurrencies based on market capitalization

  1. Bitcoin (BTC)
  2. Ethereum (ETH)
  3. Tether (USDT)
  4. Cardano (ADA)
  5. Binance Coin (BNB)
  6. XRP (XRP)
  7. Solana (SOL)
  8. USD Coin (USDC)
  9. Polkadot (DOT)
  10. Dogecoin (DOGE)

* Market capitalization as of Sept. 30, 2021

Bitcoin is the first blockchain based cryptocurrency (2009) and still bitcoin is the most popular and valued digital currency. Now, the total value of all cryptocurrency is over USD 1.8 trillion and half of that value is bitcoins.  Anyone can trade these currencies via well-known cryptocurrency exchanges like Coinbase, Gemini and Binance and Cash app. Since direct investment on cryptocurrency is volatile and risky, people choose indirect methods to invest on those like Invest in companies connected to cryptocurrency and crypto Exchange-Traded Funds (ETFs).

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