All of us have this question on our minds!! Is this newly launched digital currency safe? Well, the answer though we don’t know perfectly, it can be only a binary; a yes or no!! to know this, you must know basically what a bitcoin is; very precisely!
It is a digital currency, mined out using a technology called blockchain. It’s a decentralised currency, you don’t need any third party to be present to work on this currency or work with it. you can send the digital currencies, any number, to any number of people, across the globe and there is no charge and no in between mediators. It’s purely digital. It goes directly from A person to B person, via digital technology.
Okay; so, what if there have been digital currencies accepted all over the globe? What will be the good part?
The good part is that you can be benefitted immensely from the technology. Imagine you don’t need to pay that ‘transaction charge’, which when you calculate over your lifetime, will be equal to 1/3 or 1/5th of your total earnings, that too only one person. So, in reality, we are dealing with ‘n’ number of ‘n’ parties! Banks, internet service providers, telecom providers, data cable providers and so on.
The cryptocurrency, will replace all the currency and be more easily accessible via online. It will be the fastest mode of payment and might have the power to replace all the physical cash.
As a mode of investment for the longer term, if the coin becomes a valid one across the globe, then the demand would decrease as the value might get saturated allowing and enabling for more people participating. They are safe than our physical cash, nobody can steal them unless you give your passcode and pin.
What if they don’t get clicked?
These are all speculations and not a complete analysis; if this crypto didn’t get clicked to become the next currency of the globe, then they might lose their high value going forward. Though the prices might not fall down, the growth would be halted.
The markets would still flourish and there will be no more losses from crypto trading.
So, ultimately than the demerits, the merits actually outweigh. Well, so wondering which is the best place to start? Read this review to know more about the various platforms that are available to trade, invest, buy and sell on this cryptocurrency.