Cryptocurrency: The Definition
Often times, in conversing with individuals who have invested their money in crypto currency, I find that they are unaware of what they are investing in. They have Ideas of grandeur regarding what the outcome of their investments will be and an unrealistic idea of the timeframe that their investments will mature. Many investors have become very excited about the news of bitcoin reaching $20000 during the months of November and December 2017 and this is one of the reasons for currently investing in crypto currency.
When the opportunity arises for engaging in conversation with individuals of whom are not knowledgeable about cryptocurrency, nor the research required prior to investing, I take that moment as an opportunity to teach or share information to make them informed investors. Many invest and have no clue as to what cryptocurrency is.
For those of you reading this post that are in the same category, here are a few pointers for you:
Cryptocurrency is virtual or digital currency having no physical form. Cryptocurrency exists on networks generally having no organization nor ruling goverment which makes them decentralized, although there are some familiar cryptocurrency with characteristics of centralization that exist in one aspect or another, for example: Ripple, NEO, Tether, IOTA, VeChain, TRON, etcetera, not to say that they are not also characterized by decentralized aspects in some manner as well. Decentralization makes cryptocurrency free from governmental or institutional interference. The use of cryptography in the security of cryptocurrency provides that cryptocurrency can not be counterfeit.
Cryptocurrency is vast and there is much to be learned in this arena. Further discussions to come related to potential advantages vs disadvantages of cryptocurrency.
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Safe Investments,
Cryptoexplode
References:
Cryptocurrency News
Anything Crypto
