While there’s so much information about digital assets online, very few businesses have taken the time to learn and understand the dynamics of Blockchain technology. The lack of trust stems from a lack of knowledge and understanding. Though some businesses are accepting cryptocurrency payment methods such as bitcoin payments, they are still hesitant. That has many governments afraid of the future. Instead, it focuses on decentralization, which is where the governments come in.Īs a means of exchange, it gets rid of the governments’ central control and eliminates the middlemen. The reason being cryptocurrency isn’t a centralized form of exchange. Since its inception, there have been different measures to curb the increasing use of bitcoin and other forms of cryptocurrency across the world. Opposition Facing Cryptocurrencyĭespite being in the market for over a decade now, cryptocurrency still faces strong opposition from various quarters, including: Governmentsīefore delving into this digital asset more, let’s look at why some governments oppose it. So, it’s better to know this information firsthand before investing lots of money in it. There’s increasing debate about the safety of cryptocurrencies. If not, find another safer option or set up a business instead. Therefore, take time to analyze your finances.Īre you in a position to lose the money you want to invest in cryptocurrency? If yes, then go for it. But, be willing to lose as you hope to gain. Armed with proper knowledge, you can add it as another investment product to your portfolio. People, who are interested in investing, should first understand the advantages and disadvantages of cryptocurrency. That, however, doesn’t imply that it isn’t a viable investment option. It’s not simple and may get you in hot water. Only if someone else is willing to pay more for it can cryptocurrency generate a profit as an investment. It’s why options like Cryptocurrency are so alluring.īut, it’s not that easy to make a profit from it as a form of investment. Many people are seeking ways to diversify their investment portfolios. Who Should Invest in Cryptocurrency? Who Shouldn’t? Many people are turning to it as a form of investing. All these are traded publicly after the Initial Coin Offering (ICO). Since then, there are more than 10,000 cryptocurrencies in use online.
Later, Bitcoin became the first form of decentralized crypto in 2009.
He came up with a form of e-money that was later upgraded to Digicash in 1995. The whole concept of cryptocurrency began with David Chaum in 1983.
Instead, it’s decentralized and keeps track of all transactions done using cryptocurrency.
The technology is what is known as Blockchain.īlockchain isn’t in one central place. Once the idea was conceived, there was a need for technology to make this means of exchange a reality. That necessity saw the rise of cryptocurrency – a new form of secure digital currency. Unfortunately, cash isn’t the best way to transact when dealing with numerous platforms. That way, you can be armed with ample information to make wise investing decisions.Īs many more operations move online, there’s been a necessity for a better means of exchange. What is Cryptocurrency?īefore delving deeper into cryptocurrency, it’s better to understand the Blockchain concept. Then, armed with that knowledge, you can choose to use it or invest in it. However, it’s wise to take time and understand what cryptocurrency is. With this new type of online currency, you get not only a secure means of transaction but also a way of increasing your investment portfolio.Ĭryptocurrency allows you to reap the benefits of the fluctuations experienced in online markets. Such changes have created room for a new means of exchange – cryptocurrency.Ĭash and credit cards are no longer the only purchase options for goods and services, as cryptocurrency gains momentum. The world is changing, and many transactions are taking place online. What are the pros and cons of cryptocurrency? Is it a secure way of transacting online, or even a great addition to your portfolio? Read on to get all advantages and disadvantages of this new world of digital currencies.
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