185 views

What are Positive Effect of Cryptocurrency?

Over the past decade, cryptocurrencies have gone from a white paper to hundreds of billions of dollars in market value. Over that same period of time, the number of cryptocurrency wallets continued to increase. While the total market value of cryptocurrencies is tiny by global standards, in ten years it has grown larger than more than the economies of 155 sovereign countries. To add more perspective, if you had bought $1 worth of bitcoin in 2009, it would be worth more than $4 million today. If you didn’t buy bitcoin, that $1 would be worth $0.85 today Here are a few summaries of how I'm defining the positive impact of cryptocurrency: 1) No need for central regulations like banks or governments. It gives power in the hand of common man they can do person to person transactions all around the world in seconds without paying hefty charges to banks. 2) Anonymity is one of the important advantages provided by cryptocurrency. You don't need to reveal your identity. Not affected by government actions like DE monetization, inflation adjustment, etc. which control the value of fiat currencies. 3) It is in digital form so that it can be carried away anywhere without fear of theft, robbery. You only need to store it in your personal wallet or you have to remember the keys that are it. Lower transaction fees, fast processing of payments. 4) Millions of trees can be saved by not using paper currencies. It can help in making our environment safe. 5) With cryptocurrency, you are in charge. No one can take your money away from you unless you lose it yourself. It still has a long way ahead before it can replace cash and credit cards. People are still not aware of what Cryptocurrency is, which makes it a less viable option for them to go for.

thumb_up20thumb_downchat_bubble9

More from Jaidenmack

repeat
250 views

Ramen is a Japanese noodle soup. It consists of Chinese wheat noodles served in a meat or fish-based broth, often flavored with soy sauce or miso, and uses toppings such as sliced pork, nori, menma, and scallions

250 views · May 3rd
repeat
112 views

Being optimistic is better than being pessimistic always seek to know more about things that will improve you. I welcome my humble self into this platform...

112 views · May 3rd

More from Jaidenmack

repeat
250 views

Ramen is a Japanese noodle soup. It consists of Chinese wheat noodles served in a meat or fish-based broth, often flavored with soy sauce or miso, and uses toppings such as sliced pork, nori, menma, and scallions

250 views · May 3rd
repeat
112 views

Being optimistic is better than being pessimistic always seek to know more about things that will improve you. I welcome my humble self into this platform...

112 views · May 3rd