S4B Crypto Contest - Season 6

Hello Everyone,

I hope you guys are doing well. My name is Zubair Ahmad and I am from Pakistan.

I would like to thanks to @waqarahmadshah for organization this contest. I need support for the growth. I hope you support me.

I likely to invite to invite
@fantvwiki
@robin42
@memamun
to participate in this beautiful contest.

Source

The price of a cryptocurrency is determined by the demand in the market. The demanding side of the crypto currency consists of the amount of cryptocurrency that the person who want to buy and their pleased to pay a price for it. When the demand is high in the crypto market and supply is low, The price will keep rising, and when demand is low in the crypto market and supply is high the prices in the market will be fall.

Another thing that determined the prices of the crypto market when the user start selling their goods that they have, then you have to observe that the prices in the market will become low.

Let's talk about how the individual can buy and store crypto currency. Firstly have to choose the best platform like binance or robenhood whatever a person choose for himself to buy a crypto currency. First have to verify their identity and deposit there payment using their credit card or bank transfer for buying crypto currency. When they buy their crypto currency they have to store their crypto currency in to the wallet.

Source

people usually use their wallet to store crypto currency. These digital and hardware form of wallet which can make secured your crypto currencies.

crypto currency and traditional banking have a different security risk but their transaction in crypto currency is more secure due to block chain. They use the encryption and harsh function to make it difficult for hacker to control them. The user control their investment using their private key and and the digital wallet, But if they lose their private key and digital wallet can cause a permanent lose of their all investment in the crypto currency.

The traditional banking is a less secure as we compare it to the block chain transaction because the traditional banking transaction can process by. a central bank. The traditional banking use their fare wall to protect against the cyber attack and for the encryption. But these banking is very sensitive according to cyber attack, fraud and a human error can also occur.

This crypto currency can also be used for the illegal activities like money laundering and as for black money. But the majority of the transaction of crypto currency are legal. we have to know that these crypto is decentralized according to their nature of crypto currency cause the attraction of criminal activities like illegal transaction, money laundering and also escape himself for paying taxes. For this reason the crypto currency is banned in many country due to illegal activities.
But the good things is that these crypto currency transaction are recoded and have a possibility to trace and catch them who used this for illegal way.