Category Archive: cryptocurrencies

Generation X vs. Generation Y | Adopting Cryptocurrencies

The world’s financial institutions are currently observing a vast digital ecosystem being expanded with reports for new digital currencies akin to the likes of cryptocurrencies to be launched soon. While these CBDCs (central bank digital currencies) are proclaimed not to harm or replace cash and other forms of legal tenders, we cannot help but talk about the ones instigating the change.

Cryptocurrency became popular since the launch of Bitcoin back in Jan 3rd, 2009. Ever since then, cryptocurrencies have seen a rise in popularity amongst the masses.

According to a recent study by Tech Jury, the cryptocurrency market cap has reached $265.545 billion as of May 2020. By 2023, the global blockchain market is expected to reach $23.3 billion. Furthermore, Bitcoin alone accounts for $6 billion of daily online transactions.

Moreover, cryptocurrency users have exceeded 40 million globally. In light, of this information, let’s take a quick look at how Millennials compare to Generation X when it comes to adopting cryptocurrencies.

Generation X

Generation X is widely regarded as the generation that followed Baby Boomers and preceded Millennials. Their age groups range from 40 to 55 years old as of 2020. Here is how Generation X is reacting towards cryptocurrency:

  • Investment Growth among Boomers & Gen X

While Millennials are regarded as the prime suspects for capitalizing on the crypto market, surprisingly both Baby Boomers and Gen X are being currently observed to closely follow the trends.

Hence in recent years, many sources have cited an increase in investment of cryptocurrency as both Boomers and Generation X take charge to close the gap. In some cases, they were also found to have more than doubled their investments.

 

  • Month on Month Growth

It seems like the word of mouth and awareness about cryptocurrency is spreading like wildfire as Generation X is seen to understand the value and find blockchain as a reliable security measure. Understanding the benefits of fast and instantaneous transactions, the group of disaffected people and entrepreneurs is already showing signs of crypto is affecting their thinking for the future.

Reports are coming in, showing an evident increase and Month on Month growth patterns. According to a study by Mode Banking, both Baby Boomers and Gen-X have shown a trend of increasing their investment in cryptocurrency by over 100%, especially during the COVID-19 pandemic.

  • Wealth Protection & Asset Diversification

With the current economy ridiculed by the pandemic, the growing fear for wealth protection has led Baby Boomers and those belonging from Gen-X to invest in resources that can allow for asset diversification. Cryptocurrency so far has been observed as the most favorable type of investment to safeguard personal wealth.

Generation Y

Otherwise known as Millennials, Generation Y is widely regarded as the generation succeeding Gen-X and Baby Boomers. Their age groups range from 24 to 39 years of age. Often regarded as the parents of Generation Alpha (like my darling son!) they were born into a world that as quickly becoming familiarized with the internet, mobile devices, and social media.

  • Growth of Alternative Asset

Millennials view of cryptocurrency is that of an alternative asset. Surprisingly not many of us want to invest in stocks and are more interested in assets that are backed by technologies. According to a recent study by Coin Telegraph, Millennials are three times more likely to invest in cryptocurrency as compared to Generation X. Furthermore, 9% of Millennials chose crypto as their long-term investment option.

Students applying for and seeking dissertation assistance are also looking for ways to invest alternative asset that can help secure their personal wealth for the future. It is important to note here that while both real estate and stocks are also good options for Millennials, they are currently dominated by Baby Boomers in the present times.

  • Shifting Presence for Everything Digital

Studies from different financial institutions and digital currency markets are coming in showcasing Millennials as a driving force for the adoption of Bitcoin for years to come. Zac Prince, the CEO and founder of BlockFi, identifies a major trend for Millennials where they seek everything digital.

Furthermore, with Bitcoin reaching its all-time high and pushing over $23,000 per coin as of Dec 17, 2020, who can blame Millennials for making the right choice so far!

  • Wealth Transfer to the Young

There is a Japanese idiom that states the next generation as the actual king of the world. Come to think of it this world will always belong to the next generation that is how our life expectancy is all about. We may get to live 100 years, but eventually, the circle of life catches up to us. As we depart, the new generation takes to the throne.

For countless eras, this is how wealth has been passed down from old to the young. Currently, Millennials are in the process to take control and eventually move Boomers out to take their seat on the ruling chair. This transfer of power and wealth on a massive scale will indefinitely cause investment in cryptocurrency to rise by a tremendous rate.

Conclusion

Cryptocurrency is on the rise with Bitcoin riding the tidal wave in recent times. Not only digital assets and crypto are skyrocketing, but even the BIS (Bank of International Settlements) is also considering launching digital currencies with the help of IMF and 60 central bank members.

Someone really has to be blind enough to not see how things are rapidly changing and converging towards digital resilience. So far Millennials and Gen-X have shown their growing interest in adopting cryptocurrencies with Boomers lagging behind to catch up on the trend.

Author Bio

Samantha Kaylee currently works as an Assistant Editor at Crowd Writer. This is where higher education students can acquire literature review writing service UK from professionals specializing in their field of study. During her free time, she likes to catch up on all the latest tech developments happening across the globe.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
DigiByte Logo

Universal Cryptocurrency Wallet HolyTransaction Adds Digibyte to Its Crypto Collection

DigiByte Logo

Once again, we recently listed Digibyte and expanded our collection.

In case you are searching for a reliable and easy to use digital wallet, then HolyTransaction Cryptocurrency Wallet is perfect for you. A digital wallet is ideal for cryptocurrency traders who are looking to store, trade, and send, as well as access their cryptocurrencies through a single account. This way users can easily convert the supported cryptocurrencies without having to transfer their coins to other exchanges.

HolyTransaction Wallet for DGB

As a HolyTransaction customer, you can create a new address for DGB (Digibyte) and use the HolyTransaction Web Wallet to send as well as receive coins. You can also use the wallet to convert them into any other cryptocurrency conveniently. Thus, HolyTransaction users can send cryptocurrency, receive transactions, as well as exchange DGB with other supported cryptocurrencies, with Digibyte being one of the latest coins to be included.

What is Digibyte (DGB)?

Digibyte is a rapidly-growing, public, decentralized blockchain project, which features a cryptocurrency of the same name. The project has been around for a long time, with some of the fastest transaction speeds in the industry composed by an active development team which has been consistently working on it for over 5 years.

Digibyte has also always been transparent, with its team and founder never hiding their identities. DGB can be obtained through mining, purchased on HolyTransaction, or received as payment. In addition to that, the Digibyte team has been making an effort to reach out to merchants without waiting for them to come to cryptos, in an attempt to provide more options to its users as possible.

DigiByte has been active for over 5 years now with a market cap of $69.8 million, which makes it at least as old as Ethereum while DGB itself ranks as the 70th-largest crypto.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
maker-holytransaction

Wallet Maker: MKR token is available on HolyTransaction

As of today, you can instantly purchase MKR on HolyTransaction, transfer them to any HolyTransaction’s customer for free, and do crypto-to-crypto swaps between your Wallet MKR and more than other 30 cryptocurrencies.

MakerDAO it’s a prime example of Ethereum’s smart contract platform.

Maker is a decentralized autonomous organization on which the MKR token and DAI operate, and it is built on Ethereum. Essentially, it exists to reduce the price volatility of the Dai against the US Dollar. MakerDAO’s native cryptocurrency token is MKR, which can be stored on HolyTransaction now.

maker-holytransaction

Dai and MKR are dependent on each other to operate, Dai offers stability, while MKR offers involvement and potential on MakerDAO.

As the technology and methodology behind MakerDAO continues to progress the future of stablecoins and DAO are certain to bring interesting evolution to the cryptocurrency economy.

All HolyTransaction customers can create a new address for MKR and use the simple HolyTransaction Web Wallet to send and receive transactions or to instantly convert them to any other cryptocurrency.

Just like with Bitcoin, you can:

  • Send MKR to any address, even to addresses of other cryptocurrencies with instant conversion on the fly;
  • Receive transactions;
  • Exchange MKR with any supported coins;
  • Make instant transactions between HT users;
  • Get real time exchange rates on the website;
  • Set OTP for additional protection.

To add Wallet Storj just click on the “plus” button you find at the top right of the balance page, once you successfully enter into your wallet.

You can find the “plus” button to select the wallets you want to see in the main page like shown in the picture below:

Add new cryptocurrency

We’re excited to be part of the STORJ community!

NOTE: Our multicurrency wallet can store more than 30 cryptocurrencies, including: BitcoinDash, Ethereum, DogecoinLitecoin, DecredZcash, Dai Stablecoin, DigixDao, Augur, 0x Project, Gamecredits, Enjin CoinBlackcoin, Gridcoin, Aidcoin, PeercoinSyscoin, Groestlcoin, Power Ledger, BAT, BlockVPIVXTrueUSD, Cardano, STORJ, Monero and MakerDAO among the others.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
Shares or Cryptocurrencies, Holytransaction

Battle of ROI: Should You Invest in Shares or Cryptocurrencies?

Shares or Cryptocurrencies, Holytransaction

Investment opportunities are a dime a dozen in the digital world, but unsurprisingly, cryptocurrencies are among the most interesting prospects aspiring investors are looking at. Unlike their traditional counterparts such as gold, stocks, traditional currencies, and other, cryptocurrencies and the blockchain platform they reside on offer a chance at the big leagues for any investor that makes the right move at the right time. However, that doesn’t mean that established assets shouldn’t be ignored.

Bitcoin has turned eight years old this year, and the now mature digital asset has had a strong ROI rate throughout its life, fueled by its constant and steady adoption around the globe. With outstanding payouts that topple some of the most lucrative investment assets on the market, it’s time to take cryptocurrencies more seriously.

However, there are a number of factors that make shares a strong and secure investment opportunity that cryptocurrencies might not be able to match. Let’s consider the market trends and help you discern between shares and cryptocurrencies as viable investment prospects.

The potential of the cryptocurrency market

Through trial and error, through success and failure, Bitcoin has become a sound investment portfolio option. Out of the six previous years, Bitcoin has yielded a great return on investment and will only continue to rise in the months and years to come. With the computational networks becoming more secure and stronger than before, and with the coming of flexible and reliable wallet services, it only stands to reason that modern investors should look towards cryptocurrencies as viable investment opportunities.

Even though investors have had difficulties penetrating the market over the years because of the inherent volatility of the market and the unpredicted growth and fluctuations, modern market trends indicate a more secure investment arena for the upcoming period. The increase in market liquidity, regulatory oversight, and overall security is making Bitcoin and other cryptocurrencies more appealing to investors worldwide, as well as countries willing to adopt the cryptocurrency as a new method of payment in select instances.

A case for the stock market

The stock market is a veteran among investment assets and remains one of the most stable markets on the planet. Buying a share in a company that is operating profitably will grant you smaller or greater returns over a number of years, depending on the fluctuations in the market and the worth of the company’s stocks. You can choose to invest in a range of businesses varying in size and equity though a broker or an investment fund.

Over the last year, though, profitable small cap stocks have made a boom in the industry and created a lucrative investment arena that aspiring investors should take into consideration when planning their next big move. Even though major tech companies continue to garner the attention of the investment world, small cap stocks prove to be an easier way into a stable market and show a great potential for grand financial returns in the years to come. However, financial return should not be your only guiding star.

Regulation and governmental oversight

One of the greatest concerns for any investor is whether or not the market in question is safe and stable enough for storing assets without them vanishing into the abyss with no prior warning. It’s a well-known fact that the cryptocurrency market is not regulated by any traditional means, but rather is was envisioned and still serves as a public ledger that works as a decentralized data management system – a system where every transaction is stored.

This means that the cryptocurrency market is not regulated by any governmental body, nor is it recognized by legislature or financial institutions. As such, cryptocurrency transactions cannot be influenced, capped, reserved, or identified by third parties. However, this creates a possibly volatile investment environment the stock market is protected from.

The stock market is one of the safest investment markets in the world. The fact that it is extremely well-regulated by federal law and financial institutions ensures a higher level of security and accuracy, while the strict vetting process for participants from both sides ensures transparency for investors. All of this works together towards creating a safe investment arena, and it also helps make sound forecasts in terms of market fluctuations, giving more control to the investor.

The security of assets on the blockchain

With all of that said, it’s important to note that Bitcoin has never been hacked, nor is it likely to get hacked any time in the future. The projected amount of computing power and time needed to crack into individual transactions and wallets is almost impossible to replicate in real-life scenarios, and so blockchain stands tall as the most secure platform on the web.

While it is true that Bitfinex and Mt.Gox have been hacked in the past, nowadays the cryptocurrency game offers far more superior security options to its investors. With cryptocurrencies, the assets you store in your wallet are safe. This cannot be said for other investment assets, as every digital trading game has its set of liabilities and risks the hackers can exploit.

 

Investors are constantly looking for emerging opportunities and lucrative assets that will yield a high ROI over a specified number of years, and both the stock market and the crypto market offer a good chance of a high return on investment. That said, the stock market offers a more stable and well-regulated investment arena, whereas cryptocurrencies offer extreme returns to those who invest in the next big project.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack

Welcome to the Universal Wallet and Exchange, Enjin coin.

If you thought about holding or exchanging ENJ Enjincoin, now you can do so directly with your HolyTransaction Universal Wallet.

We have successfully integrated Enjincoin and it’s now possible to add ENJ wallet to your dashboard and use it to access and exchange all cypto supported, instantly. This is just one of the many recent adoptions that increased the possibilities of our platform, by bringing the number of cryptocurrencies accepted to 29.

Now you are free to store ENJ on HolyTransaction, transfer them to any other wallet, and make crypto-to-crypto transfers from and to ENJ.

All HolyTransaction customers can create a new address for their own Enjincoin Wallet with the maximum ease.

Enjincoin Wallet features
Just like Bitcoin and all the other 28 digital currencies supported, you can now:

• Send ENJ to any address, even to addresses of other crypto, with instant conversion on the fly;
• Receive transactions;
• Exchange ENJ with any supported coins;
• Make instant transactions between HT users;
• Get real time exchange rates on the website;
• Set OTP for additional protection.

If you are not able to see your newest Enjincoin Wallet, you just need to click on the “plus” button on the top right of the balance page, once you successfully login into your own wallet.

About EnjinCoin:

The EnjinCoin Team built a “modular platform enables you to explore endless use-cases for blockchain technology”. The Platform allows to Integrate blockchain really quickly “without writing a single line of code – or go all in and create custom tokens & contracts from scratch”.

An all-in-One Blockchain Game Development Platform

Enjin offers a completely flexible, free platform for creating, integrating and scaling tokenized gaming assets. Here you can find a list of features as reported in the official website.

Non-Fungible Tokens

Create unique gaming assets – rare cards, scarce weapons & heroes. Use the ERC-721 token standard or mint them with ENJ.

Fungible Tokens

Forge in-game currencies, virtual goods, gold coins, cards, generic loot items, mineable resources and other abundant gaming assets.

Modular

Use everything from bound tokens & whitelists to trading fees & token bundles to supercharge your token & game mechanics – and increase your revenue.

Mint & Melt

Back your tokens with ENJ and provide the ultimate value proposition for your audience, true ownership of meltable gaming assets that have real-world value.

Integrate

Use our easy to use SDKs to integrate blockchain with your game. Use pre-built Token Supply models or code your own smart contracts.

Scale

Take advantage of Efinity, our sidechain instant token scaling network to build everything from CCGss, Dapps to massive, MMO gaming multiverses.

Applications:

Video Games

Level up your published titles with blockchain technology – or build everything from groundbreaking MMOs and MOBAs to full-blown gaming multiverses.

DApp Games

Whether you’re an experienced blockchain solidity developer or a total newbie, ENJ platform is everything you need to power the next crypto-collectible DApp.

eSports

Mint custom tokens and galvanize your audience – boost online interactions, supercharge your marketing efforts and give prizes to your biggest fans.

Rewards

Incentivise activity and encourage engagement by automatically rewarding your community members or gamers with tokens that have real-life value.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack

Welcome to the Universal Wallet and Exchange, Power Ledger.

If you thought about holding or exchanging POWR Power Ledger, now you can do so directly with your HolyTransaction Universal Wallet.

It’s now possible to add POWR wallet to your dashboard and use it to access and exchange 27 different crypto instantly. Now you are free to store POWR on HolyTransaction, transfer them to any other wallet, and make crypto-to-crypto transfers from and to POWR.

All HolyTransaction customers can now create a new address for their own Power Ledger Wallet.

Power Ledger Wallet features:
Just like Bitcoin and all the other 26 digital currencies supported, you can now:

• Send POWR to any address, even to addresses of other crypto, with instant conversion on the fly;
• Receive transactions;
• Exchange POWR with any supported coins;
• Make instant transactions between HT users;
• Get real time exchange rates on the website;
• Set OTP for additional protection.

If you are not able to see your newest Power Ledger Wallet, you just need to click on the “plus” button on the top right of the balance page, once you successfully login into your own wallet.

About PowerLedger

Power Ledger is an Australian blockchain-based energy trading platform that allows for decentralised selling and buying of renewable energy. The platform provides consumers with access to a variety of energy markets around the globe and is scalable to various energy infrastructures and regulations.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack

Welcome to the Universal Wallet and Exchange, Digixdao.

If you thought about holding or exchanging DGD Token, now you can do so directly with your HolyTransaction Universal Wallet.

It’s now possible to add DGD wallet to your dashboard and use it to access and exchange 26 different crypto, instantly. Everything in one account.

Now you are free to store DGD on HolyTransaction, transfer them to any other wallet, and make crypto-to-crypto transfers from and to DGD. All HolyTransaction customers can create a new address for their own DGD Token Wallet.

DGD Wallet features
Just like Bitcoin and all the other 25 digital currencies supported, you can now:

• Send DGD Token to any address, even to addresses of other crypto, with instant conversion on the fly;
• Receive transactions;
• Exchange DGD  Token with any supported coins;
• Make instant transactions between HT users;
• Get real time exchange rates on the website;
• Set OTP for additional protection.

If you are not able to see your newest DGD Wallet, you just need to click on the “plus” button on the top right of the balance page, once you successfully login into your own wallet.

About DigixGlobal and DigixDAO:

DigixGlobal is the first organization built on Ethereum that tokenizes physical assets onto the Ethereum blockchain, specifically 99.99% London Bullion Market Association (LBMA) approved Gold bars through our Proof of Asset (PoA Protocol). They anticipate that synergies amongst all Decentralised Applications (DApps) on Ethereum will eventually lead to an increased volume of Digix Gold tokens.

DigixDAO is a suite of smart contract Decentralized Autonomous Organization (DAO) software created and deployed by DigixGlobal on the blockchain, and aims to work with the community to govern and build a 21st century gold standard financial platform on Ethereum. It wants to establish a standard in being an open and transparent organization using the power of Ethereum smart contracts, such that DigixDAO token holders can directly impact decisions dedicated to the growth and advocacy of the DigixCore Gold Platform. In return, token holders are able to claim rewards of transaction fees on DGX from DigixDAO every quarter on the Ethereum platform.

All raised Ethers will be kept in a publicly disclosed Ethereum address. The DAO will have a project pledging mechanism in place, where token holders are eligible to pledge their approval /rejection of project proposals suggested by DigixGlobal, before any of the raised ETH can be unlocked from the DAO’s multisignature contract wallet.

DigixDAO wants the community to directly influence the allocation of raised ETH in a transparent manner. All project proposals will be uploaded onto the InterPlanetary File System (IPFS) and is publicly available. Token holders will get to pledge their support for projects on the blockchain before any of the cryptocurrency raised can be released to DigixGlobal.

They predict that their product will revolutionize the digital gold industry by providing an open and transparent asset backed token on Ethereum.

A selection of key terms for understanding:

DigixDAO Token (DGD): DGD Token entitles you to pledge for project proposals at Digix and allows you to claim a reward on transaction fees collected on the system every quarter. They are divisible to 9 decimal placings and are transferrable.

Gold Asset Ownership Card: A digital Gold asset card issued to the purchaser of a Gold bar as listed on the Digix Web Application marketplace.

Pledging: Every DGD token automatically entitles the holder to pledge on proposals that are submitted by Proposers or Digix Developers. Your pledge significance is directly proportional to the amount of DGD tokens held in your ethereum address.

Proposer’s Badge: The Proposer’s Badge entitles the Proposer to formally propose a project or a feature he/she will like to see on the Digix platform. For example, it could be as simple as an add-on button feature, a live Gold visual chart or an additional product offering. Proposer badges also allow you to vet on other Proposer’s projects. Proposer badge significance is directly proportional to the number of badges you hold in your ethereum address. Proposer badges are different from pledging.

Number of DigixDAO (DGD) tokens in existence:

2,000,000 DGD tokens.. DGD Token ownership is transferable to anyone who has an Ethereum Wallet.

Source: https://bravenewcoin.com/assets/Whitepapers/digixdao-info.pdf

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack

Welcome to the Universal Wallet and Exchange, Essentia Token.

If you thought about holding or exchanging ESS Essentia, now you can do so directly with your HolyTransaction Universal Wallet.

We have successfully integrated Essentia Token and it’s now possible to add ESS wallet to your dashboard and use it to access and exchange 25 different crypto, instantly. This is just one of the many recent adoptions that increased the possibilities of our platform, by bringing the number of cryptocurrencies accepted to 26.

Now you are free to store ESS on HolyTransaction, transfer them to any other wallet, and make crypto-to-crypto transfers from and to ESS.

All HolyTransaction customers can create a new address for their own Essentia Wallet with the maximum ease.

Esentia Token Wallet features
Just like Bitcoin and all the other 25 digital currencies supported, you can now:

• Send ESS to any address, even to addresses of other crypto, with instant conversion on the fly;
• Receive transactions;
• Exchange ESS with any supported coins;
• Make instant transactions between HT users;
• Get real time exchange rates on the website;
• Set OTP for additional protection.

If you are not able to see your newest Essentia Wallet, you just need to click on the “plus” button on the top right of the balance page, once you successfully login into your own wallet.

About Essentia:

Here’s how Matteo Zago, Founder at Essentia One, answered everyones’ question.

What is Essentia? “Essentia is a modular, decentralized interoperability and data management framework. It aims to collect and connect centralized and decentralized resources into one cohesive environment and provide the interoperable framework for the Web 3.0.

Being not only interoperability but also management framework, another Essentia’s objective is to provide users full control over their personal information. Using Essentia, it is possible to set up what information you want to share, with whom and even for how long.

Essentia is created as a tool to help users smoothly transition from Web 2.0 to Web 3.0, by creating a network of application that can be used at once, from one place with the help of the seed only.

You can gather all your favorite services, from exchanges to messengers, and manage your digital life easily and painlessly not wasting extra time and money. […].”

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack
Cryptocurrency regulation, Holytransaction

Cryptocurrency regulation

Cryptocurrency regulation, Holytransaction

The cryptocurrency wave has destroyed the traditional schemes which used to regulate money and financial assets. Furthermore this new trending market has created great opportunities for participants, but it also carries significant risk.

Countries and government are trying to understand how they work and how they could be regulated in order to make this market safer. Generally we say “cryptocurrency”, but this market offers different kind of crypto which have been divided in coins, token security and token utility.

Government agencies made this division, but in some cases coins/tokens show several qualities which make labeling them difficult. In other cases, like in muslim countries, also religion can help make regulation and acceptance difficult.

This article was originally published on UpCounsel.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack
Things You Should Know About Crypto Currency, Holytransaction

Things You Should Know About Cryptocurrency

Things You Should Know About Crypto Currency, Holytransaction

Living in a world of technology, where news through social media and live broadcasting is at our fingertips; it would be foolish to presume that the readers are oblivious of the word “cryptocurrency.” 

All of us must have heard this word cryptocurrency on the media and if not there, then at dinner parties surely. But unfortunately, just knowing the word doesn’t mean you can interpret or pick what it is and how does it work.

No worriment, you are not all alone, despite the hype and press releases there is an overwhelming majority of people who have insufficient knowledge about cryptocurrency including bankers, finance dealers etc. Now let’s discover what the fuss is all about, reading the article will end up providing you the information more than most of the people.

Cryptocurrency a digital asset

“Cryptocurrency will do to banks what email did to the postal industry”

The comprehensible definition of cryptocurrency: “A cryptocurrency is a digital or virtual currency.” but why it is called “Crypto” currency because it uses cryptography for security.

Or it is a digital medium of exchange that uses encryption to secure the process involved in the transaction. The encoding process makes it impossible to counterfeit the cryptocurrency; therefore making the fund transfer safer between two parties.

You can easily find more than 800 digital currencies in the market and Bitcoin is just one of them. Need to mention it as many people think that cryptocurrency and Bitcoin is the same thing with two different names. Like cryptocurrency is a whole tree and Bitcoin is just a branch of it.

Although, Bitcoin is the world’s oldest and well-known cryptocurrency, like any other digital currency it is not regulated or backed by the government. Sir Richard Charles said, “There will be other currencies like it that may be far better, but in the meantime, there is a big industry around Bitcoin.”

You might have heard the words Etherium or Litecoin, just other names of Cryptocurrency. Moreover, the name, symbol, and the price of the cryptocurrencies can be different depending on its end goal. When bitcoin first arrived, they were intended to be a way for the world to break away from banks.

The use of cryptocurrency 

Other than just an increase in value, many other reasons make it imperative for users to own it. It bestows the possibilities that no other currency allow. For example, the following

  • You can use it to sell or buy products and services like any classic flat currency. But the trick is you have to find the donor or the acceptor who deals in cryptocurrency.
  • Send or transfer money at low cost and high speed.
  • Crypto-currencies act as a censorship-resistant alternative store of wealth; it means it can only be accessed by the owner, a person who has private keys to the wallet. Therefore, no personal cryptocurrency wallet can be frozen by the authorities.
  • It provides you the great investment opportunities; you can even transfer your retirement funds into an account for Bitcoin, Etherium, Ripple et cetera. And if you want to avail these services at shoestring budget, you can use coupons.
  • With cryptocurrency you can transfer large amount of money with being answerable to government or bank that why, who and how much.

        Conclusion

The market for cryptocurrency is rapid, vast and wild. Every day it takes a new twist and turns; the new currencies pop up, an old one dies, early adopters get rich, and investors suffer losses. But the fact is that people all over the world are buying cryptocurrencies, investing in it as they are sure that cryptocurrency is here to stay and change the world and that’s an undeniable truth.   

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack