Benefits of cryptocurrency
Cryptocurrency is capable to solve the problems that are important for the rise in the economy. These are:-
1. REDUCING CORRUPTION
Crypto is not under the power of a single entity or person. Although, many people or members over the network have distributed power to avoid the use of power abusing by a single person which finally results in no corruption
2. ELIMINATE THE MONEY PRINTING
The government authorized the banks to print the money and it becomes extreme when the economy of a nation dropped.
But, the printing of money leads the other problems such as devaluing the currency. As a result, inflation increases, and the value of money equals toilet paper.
In contrast, digital currency like cryptocurrency doesn’t need printed money to determine its value.
3. NO MEDIATORS CONTROL INVOLVED
Not to mention, traditional cash is controlled and regulated by banks and the government.
But, crypto cannot govern by any regulatory body and only you can access your crypto for transactions.
4. EASY ACCESS TO EVERYONE
It is a fact that a big part of the world doesn’t have easy access to banks.
Thus, crypto can solve this problem as anyone can access their funds even through mobile phones.
What are the risks involved in crypto investing?
Till now, we discussed the crypto benefits and how it can change the world but noting can be workable only with the nice things.
Thus, it is necessary to know about the risks involved in crypto. These are:-
1. HIGHLY VOLATILE
The crypto is highly volatile. On one day, you will find a return of 100%, and the very next day, it crashes like a hell.
2. NO REGULATIONS
Since there is no regulation in crypto. Hence, the risk of steal and can be claimed illegally anytime by the government is very high.
Nevertheless, the government can freeze your account or demonetize the currency anytime.
3. CAN BE USE BY CRIMINALS
Indeed, the crypto transactions don’t reveal the person’s identity, which cannot give any data that it is using by a criminal or a citizen.
Crypto investing made many of its investors rich but one should not invest blindly in it.
blogpay
