What started out like a math test has now changed as a global wonder that is called “Cryptocurrency”.
When Satoshi Nakamoto was mining Bitcoin, maybe he wasn’t thinking about the popularity it would have. After Bitcoin, there were more cryptocurrencies such as Ethereum and Litecoin, and currently there’re more than 1,000 digital currencies available on the market.
So, it is interesting to know how much cryptocurrencies have differences from other traditional currencies; what advantages they offer investors.
Cryptocurrencies can provide a considerable profit margin by reason of higher market volatility. During these years, major types of cryptocurrencies have found a high demand, creating valuation of as a minimum 400%.
Using Bitcoin as an example, in 2010 it was worth about 0.07 cents on the dollar, today it is trading at $9,000! In the previous 6 years, it has now got value of more than 4,200%.
Privacy, anonymity and autonomy
One of the most famous aspects of crypto currencies is that they’re not organized by an authority, for example a financial institute or government. This decentralization is brought about by peer-to-peer transactions, facilitated by blockchain technology, which processes transfers and records them in a publicly visible ledger.
Don’t worry, it’s just the address, transaction hash and block number that are shared with everyone, while other details of the procedure of trading and transferring your digital assets are kept confidential.
This is an ideal solution if you’re afraid of giving out any personal information on the web because of the great risk of data theft.
In this sense, you’ve entire control on your crypto currencies, from how to manage them, where to use them, to whom to sell them to because of their de-centralized nature.
So, it is a perfect alternative business for your job or the trust-fund for your family.
As a writer, Richard is an advocate of blockchain technology and cryptocurrency in general. He writes about all things from cryptography to economics, with a focus on how it applies to cryptocurrencies. He is also passionate about writing about topics such as decentralization, open-sourced software development, and copyright law.