Importance Of Cryptocurrencies.
Before I dive into why cryptocurrency is import important, let me give a proper and self explaining description of Needed to understand what cryptocurrency is. A cryptocurrency is a digital currency that is created and managed through the use of advanced and encryption known as Cryptography.
Cryptocurrency is a form of blockchain technology, the technology that bitcoin and other distributed ledger systems are based on. In other words, cryptocurrency like bitcoin is as an anonymous financial system that employs blockchain technology to operate. Instead of using a credit card to pay for an item online, users can use bitcoin or any other form of cryptocurrency. In Novermber 2016, the market capitalization of bitcoin and other cryptocurrencies reached $13.8 billion.
Having know what cryptocurrency entails, let's go down to the business of the day, "Importance of Cryptocurrencies" and they are viz:
1 Cryptocurrencies give us that assurance which makes an important source of investment right bow and in the future as well.
2 You don't really need a third party when it comes to cryptocurrency and this fives people the reassurance of safety.
3 Cryptocurrency is a low cost means of transactions, you don't need to shell out money on order to exchange digital currencies.
4 In cryptocurrency, everyone has an access.
5 Cryptocurrency may make or tougher to access consumer Information.
6 Cryptocurrencies are digital and cannot be reversed arbitrarily by the sender, as with card charge-backs.
7 Cryptocurrency use a "Push" mechanism that allows the Cryptocurrency holder to send exactly what he or she wants to the merchant or recipient with no further information.
8 You can store your Cryptocurrencies in a safe wallet.
9 You get complete autonomy that you look for.
10 The amount of money you want to invest is totally up to you. Cryptocurrencies gives the liberty of buying them in fractions as well.
CONCLUSIONS.
Cryptocurrencies are certainly on the rise bow as it is a versatile way of making payments that of transactions in a highly confidential manner. It will surely change the way you make payments. There are always prone and cons to any situation in life. To be able to make a good decision, you need to weigh the good and bad thoroughly before finalizing your choice.
With Cryptocurrency, its more about mass acceptance than technology. The Technology is here. Only time will tell when he rest of the world(Governments and Citizens) will say YES!