What is a cryptocurrency?
Simply put, cryptocurrencies are digital assets. The name comes from the fact that all transactions are highly encrypted and the exchange is very secure. Unlike traditional currencies controlled and controlled by central authorities, they are essentially decentralized. The number of cryptocurrencies is finite and can be equated with precious metals such as gold and silver.
Cryptocurrency is usually created through mining, the process of solving very complex problems with powerful computers as a reward for successful cryptocurrency transactions. In other words, cryptocurrency exchanges often generate more cryptocurrencies in the world.
Many cryptocurrencies use blockchain to manage and record transactions, and multiple entities keep the same transaction records, making this technology very safe for investment.
Swapnil Pawar, Founder, Advisor ASQI said: “Investors who appreciate blockchain technology and have a specific opinion on which aspects will become major in the coming years can invest in these investments. specific cryptocurrency drives these aspects.” .
Cryptocurrency Market
The total value of the crypto market as of May 2021 is $1.7 trillion. There are over 10,000 cryptocurrencies listed at the time of writing and that number will only grow. Of this total, Bitcoin holds the largest share in terms of market capitalization, amounting to around $650 billion, followed by Ethereum and Tether. Cryptocurrency adoption around the world has been growing for years now.
For example, when a major US online retailer - Overstock.com - started accepting Bitcoin in 2014, it made $124,000 in Bitcoin sales on its first day. More interestingly, companies are also recognizing the investment value of this digital asset - MicroStrategy Inc. US-based bought over $1 billion worth of Bitcoin in 2020!
Bitcoin - Gamechanger
Bitcoin emerged as a gold rush as the world realized the problems with the current financial system after the 2008 crisis. It was the first cryptocurrency to be developed via blockchain and has Might have changed the way people think about money. In 2013, Bitcoin was recommended by Forbes as the best investment. Today it has become a household name.
As quoted by Deloitte, more than 2,300 US businesses were accepting bitcoin as a form of payment by the end of 2020, making it an attractive asset for ordinary people to hold.
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Why invest in Bitcoin?
In addition to being highly secure in nature, Bitcoin is also peer-to-peer (P2P), which means it doesn't involve any middlemen (like a bank or credit card agent) and provides Minimum transaction fees. It's fast and completely transparent - for example, every bitcoin transaction you make is recorded in a public ledger that everyone can see. It cannot be faked or counterfeited. Transactions on the blockchain are also immutable, which further reduces the risk of fraudulent activity and makes your investments much safer. You can trade bitcoins through exchanges like WazirX, which is a safe and secure platform for investors.
The Bottom Line
With crypto, the future is here. To start investing, you need a reliable crypto exchange like WazirX, where you can buy, sell and trade cryptocurrencies like Bitcoin, Ethereum, Tron, and more.
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