The great difference of cryptocurrencies to the traditional financial system is that the tangible currency is controlled by the banking system and is under the executive power of the bank, these currencies are protected in internal vaults of the bank and from there it will be controlled by a ticket office operator , in short with "centralized" currencies.

While on the other hand cryptocurrencies are digital assets based on blockchain whose main characteristic is that they are "decentralized" and this means that it is not controlled by any banking system, state, third parties, financial government entity, these assets are managed by the same user in a transparent and secure way. These assets are stored in virtual wallets or wallets, which keep track of all transactions carried out and protected by blockchain technology.

With the traditional financial system, the user runs the risk of losing or being robbed, whether he wants to save in a bank or personally. With a cryptocurrency, no, they are not tangible assets, but they are always present anywhere in the world where the user wants to go without the risk of being robbed or victim of an attack.

1. Privacy of use, it is not necessary to reveal the identity of the user.

2. They are tradable for other currencies.

3. The exchanges are unalterable, it is not possible to cancel the payment once it is executed.

4. All transactions are managed by the person, there are no third parties involved.

5. Protected by blockchain, that is, there is no risk of being falsified.

6. Clearly decentralized, they are not controlled by anyone except the person.

7. They use the art of cryptography as a secure method for payments and collections.

Have an excellent improvement at the level of the services provided for the average user and become the main network eliminating centralization. At the international level, decentralization has been an option for economic reasons.

Decentralization is a tool to defend democracy and obtain a better response to the decisions made by government entities. It is based on the freedom of expression and freedom of criteria on the part of the people who make up a society.

Effectiveness: Due to the disrespect of free thought of the centralized system, it has the effectiveness of democracy and assists the economic needs of the public sector.

Honesty: Decency and dignity as an example for the service that the user absorbs.

Support: A whole network with excellent security to provide support to the public sector.

The person can do and undo as they want in the decentralized system. The level of transactions in a decentralized system is unlimited with an efficient service 24 hours a day, 7 days a week, from anywhere in the world. It is not necessary for the person to go through the protocol of appointments and paperwork that the traditional financial system requires.

The decentralized system is as well said based on the blockchain, giving it the best security service than the centralized one.

Blockchain is an exclusive high-security consensus registry in which all user transactions are allowed to be stored and can never be lost, modified or deleted.

The value of cryptocurrencies is a roller coaster, it is affected by different elements:

In the market, sudden changes can cause price variations to cryptocurrencies and unexpected uncertainties for the user when making operations.

Because cryptocurrencies are not currently regulated, it is a reason for affectivity in the value.

Not everything is perfect, it is prone to errors on the part of the user, as well as attacks by network pirates.

The higher the demand, the higher the price. If there is not much purchase of cryptocurrencies, the price falls.

News, rumors, hacks, social media influencers and their predictions or investments could affect the value of cryptocurrencies.

Mining does not mean finding coins, revealing coins, or creating new coins, but mining is the process for approving and producing the transactions and operations of a cryptocurrency. It should be noted that not all cryptocurrencies work in the same way, the way of mining depends on the system that manages the blockchain or the consensus algorithm with which each cryptocurrency works.

Not everyone can be a miner since to be one, a series of requirements must be met:

1. Not all computers can mine. You have to have optimal specs in order to mine.

2. You will need a Wallets or virtual portfolio.

3. Application-specific integrated circuit (ASIC) equipment or, failing that, GPU video cards, better development than CPU.

4. Software to mine cryptocurrencies with GPU.

5. Optimal video card support.

6. Power source for the arrangement of Hardware elements.

7. A good electrical energy, since the appliances consume a lot of energy.

8. A Solid State Drive (SSD).

9. Large maintenance costs, therefore the best possible equipment is recommended.

10. It is advisable to have as much knowledge as possible to handle the equipment.

11. It is possible to have big losses of money if you are not sufficiently trained in the cryptocurrency market.

12. Do not get carried away by third parties, not everyone has good intentions.

Hugo Chávez, president of Venezuela at that time, in his visit to Asia made the proposal to found an international currency which would be called Petro and its support would depend on the Petroleum warehouses.

A gold-defended cryptocurrency called DigixDAO was issued.

The agriculture minister in Venezuela shares the idea of launching gold-backed cryptocurrencies.

It was for the first time given the news to the public media by Hugo Chávez of his creation of the Petro cryptocurrency.

It was the official launch date of the Petro cryptocurrency in my country, based on the Ethereum platform. And the reason for the launch of this cryptocurrency was due to the economic situation of the country, on the official page of the cryptocurrency the government of the country expressed that Venezuela had experienced the greatest economic crisis in its entire history and the government stated that with that creation of the cryptocurrency Petro would change the economic crisis a bit and would become monetarily independent.

Some time later, an economist expressed his disagreement with cryptocurrency, telling the Financial Times that the cryptocurrency was not crypto and supported by warehouses that are not. Billed by a government that does not have savings in dollars and can only obtain remuneration with its production, but it was only declining. On another occasion he reiterated that the price of the Petro was going to devalue as the Bolívar (physical currency of the country) was devalued.

On the official website of the cryptocurrency, the Venezuelan government explains how said asset would be used. They only had to open a virtual Petro wallet as shown on the page and when opening it, an electronic address will be obtained that the user can share with anyone who wants to make Petro transactions to their wallet.

In Venezuela, apart from its government currency PETRO, there are also other cryptocurrencies, which I will explain below:

• BolivarCoin: decentralized and open source, aiming at efficiency and speed when making transactions. This asset has its own blockchain, with PoW and X11 algorithm, it can be mined.

• ArepaCoin: created in 2016, with the purpose of favoring the Venezuelan nation with a new form of settlement. Its blockchain is combined with PoP and PoW, with a Scrypt algorithm.

• OnixCoin: launched in 2017, with the purpose of reaching the population as a tool to calm the economic crisis. This asset has a chain of blocks of its own, with PoW and an algorithm of X11.

• RilCoin: launched in 2018, with the purpose of the other currencies to improve the economic crisis in the country. It is a decentralized asset, using PoW and Scrypt as an algorithm.

• AndesCoin: launched in 2018, with the purpose of purchasing goods and an easier tool for remittances entering the country. It is a decentralized and open source asset, usable on the Exchange Crex24, it can be mined.

• Drachma: launched in 2018, it is dedicated to Christian churches and their benefit, however, it can be owned by anyone. And it works on the TRON network, it does not have its own blockchain.

• PerlaCoin: launched in 2018, and its purpose is to support the tourist system in Venezuela.

In summary, we can have a clear idea of the points in favor of cryptocurrencies and the points in favor of the traditional financial system, since a fairly considered percentage choose to use cryptocurrencies for their companies or businesses due to its decentralized system where there is no third party. involved, but only the user can do and undo. Even many people choose to use the traditional financial system because they believe their centralized system is better, but I could draw the conclusion that the user says they prefer the traditional financial system due to lack of information about cryptocurrencies, once this is learned there is no going back and they will not want another investment system.