Why Should You Trade in Cryptocurrency?
By: Alex Paul
Tags: Bitcoin News, Cryptocurrency Trading, Cryptocurrency Mining, Bitcoin, Cryptocurrency

The modern concept of cryptocurrency is becoming very prevalent among traders. A radical concept introduced to the world by Satoshi Nakamoto as a side product became a hit. Decoding Cryptocurrency we came to know that crypto is something hidden and currency is a medium of exchange. It is a form of currency used in the blockchain generated and stored. This is accomplished through encryption techniques in order to regulate the creation and verification of the currency transacted. Bitcoin was the first cryptocurrency which came into permanence.

Cryptocurrency is just an inevitable part of the process of a virtual database running in the virtual world. The identity of the actual person here cannot be determined. Also, there is no centralized administration which governs the trading of cryptocurrency. This currency is similar to hard gold preserved by people and the value of which is supposed to be getting increased by leaps and bounds. The electronic system set by Satoshi is a decentralized one where only the miners have the privilege to make changes by confirming the transactions initiated.

Forgery of the cryptocurrency is not acceptable as the whole system is based on hardcore math and cryptographic puzzles. Only those people who are proficient of solving these puzzles can make changes to the database which is next to impossible. The transaction once established becomes part of the database or the blockchain which cannot be modified then.

Cryptocurrency is nothing but digital money which is generated with the aid of the coding technique. It is based on a peer-to-peer control system. Let us now go through how one can be benefitted by trading in this market.

#1.Cannot be reversed or forged:

Though many people can rebut this that the transactions made are irreversible, but the greatest thing about cryptocurrencies is that once the transaction is approved. A new block gets added to the blockchain and then the transaction cannot be traced. You become the owner of that block.

#2. Online transactions:

This not only makes it preferable for anyone sitting in any part of the world to transact, but it also eases the speed with which transaction gets processed. As analyzed to real-time where you need third parties to come into the picture to buy house or gold or take a loan, You only require a PC(personal computer) and a proposed buyer or seller in case of cryptocurrency. This concept is simple, speedy and filled with the prospects of ROI.

#3. The fee is low per transaction :

There is low or no fee exerted by the miners during the transactions as this is taken care of by the network.

#4. Accessibility:

The concept is so practical that all those people who have access to smartphones and laptops can reach the cryptocurrency market and trade in it anytime anywhere. This accessibility makes it even more profitable. As the ROI is worthy, many countries like Kenya has introduced the M-Pesa system permitting bitcoin device which now allows 1 in every three Kenyans to have a bitcoin wallet with them.

Cryptocurrency has undoubtedly been a revolutionary concept which sees a booming growth in the upcoming years to come. At the same time, the idea is a little bit ambiguous and new to most of the people.