Cryptocurrency is something that is on the latest hot topic list. People are well aware of the craze around these coins. The recent hype is caused by the record value the coins have hit. This value is getting people even more interested in the coins right now. They are also hurrying to invest in cryptos before these goes really high once again. But the greatest question posed by this situation is whether it is okay to go for cryptos or not. While the recent high value says that it’s a good idea, the volatility of the coins is a matter of concern. While enthusiasts are all positive about the future of the currencies, analysts still warn about the unstable value of the currencies.
Though there were really more doubt than acceptance around cryptos when these were launched, slowly they made it to the market. Not only enthusiasts but even businesses started to accept these currencies. Now it is possible to pay with Bitcoin & Crypto (จ่าย Bitcoin & Crypto, term in Thai) to buy various services and products. It is true that people have really earned a lot through cryptos, but it is not easy for everyone. Just jumping into buying some coins won’t help one to make some money. It is necessary to learn about the industry properly before investing in these coins.
Cryptos use a technology named blockchain which keeps efficiently keeps record of every coin and transaction. Bitcoin is the first crypto that was launched back in 2009. The reason for such a high price is increased awareness and trust among investors. Here are some good reasons that make cryptos worthy of investment.
Money laundering, fake notes- there are many issues around the real-world currencies we use. This very thing has been removed from the world of cryptos through technology. Though there are many reports of online frauds, blockchain technology efficiently make the coins fraud proof. All the details of confirmed transactions are stored in the public ledger. It ensures the legitimacy of record keeping by encrypting the identity of the coin owners.
There is one to reduce the value
Inflation is a thing and it is definitely a matter of concern. Centralized banks control the money that is in the market and in the banks. These banks also have an ill reputation of causing inflation to reduce the value of money. But when it comes to digital currency, there is basically none to control the money. There is only the owner and the ledger with all the records. Many investors support cryptos due to this absence of centralized banks.
No identity theft
The world of digital currency is safe because there is no basically none who can tamper with the coins and the identity of the owner. The ledger ensures accurate balance by keeping records of all transactions. The transactions are checked to make sure that the coins in use are owned by the spender. Transaction blockchain is another name of this public ledger. Smart contract and encryption make the coins virtually unhackable.