I’m sure that most people on Hive have a little bit knowledge of what cryptocurrency is all about. But let’s just assume that a Newbie with no knowledge about cryptocurrency stumbled upon my post and will like to know what cryptocurrency is.
Cryptocurrency is a cryptographic secured digital asset that has value and can be used to buy goods and services. It can also be transferred and is built on a blockchain technology that makes it almost impossible to get counterfeited or doubly spent.
So in a nutshell it’s a secured digital money.
I think and I know that cryptocurrency is the best thing that ever happened to us, all thanks to one person called Satoshi Nakamuto. This is because of the decentralized nature of the digital asset. For a long time the government and the people in power have always been in control of the world because they posses and control one thing that makes the world go Gaga.
yeah you are right, money is the thing that makes the world go Gaga.
Money gives you access to resources and power, when these set of people have those in surplus, they can use that to manipulate the world. They have turned the world into their personal game, and who do you think are the people that suffer from their actions? The minorities.
Imagine getting taxed or paying commission fee because you either want to spend your money or transfer your money to somebody. That is one of the ways they use in intimidating and manipulating the world. This is because they produce the money(fiat), they control it and they tell the minorities how to use it, When to use and who they are allowed to use it with it. You can see that using fiat comes with a lot of control. When they don’t have enough fiat , they collect from the minorities through tax or better still print more, thereby driving inflation.
And guess who suffers from inflation which is as a result of their actions? Yeah you guess that right also, the minorities.
But Cryptocurrency fixes all these, first of all it’s decentralized so the government can’t manipulate it or print more. Cryptocurrency can be used for transactions through Peer to Peer so we don’t need the government’s approval on how or where to use it.
Except China that has completely made it illegal.
Cryptocurrency is deflationary meaning the supply can be burnt, thereby controlling inflation and driving the value of the asset higher.
You can see what cryptocurrency is fixing, now the main objective is to make sure that cryptocurrency is globally accepted in the world because that is what will guarantee us thorough financial freedom.
Cryptocurrency for me has been a life saver in preserving, securing and growing wealth. I come from a country where inflation is extremely rampant. The value of our local currency gets diminished each day. I have been able to preserve my asset’s value through cryptocurrency. Few months ago or a year ago, $1 = 360 Naira. Today $1 = 580 Naira that is the value of naira has decreased by additional 120 Naira. If I bought $1,000 a year ago that would be 360,000 Naira , but today that would cost 580,000 that’s 120,000 Naira extra. So having my asset in cryptocurrency saves me all that and help preserve and increase the value of my asset.
Ironic part is, Naira has a useless value for a currency that is extremely hard to make in Nigeria.
For the short time that cryptocurrency has been in existence, it has really changed the world. A lot of innovations have been sprung out of the ideas of cryptocurrency, we are talking of other sectors considering smart contracts, blockchain gaming, NFTs and so on. So the future of cryptocurrency is definitely going to be great, we are going to see more improvements, adaptability and acceptance of cryptocurrency in the world. And if you are invested in cryptocurrency I will like to congratulate you for investing in the future and securing your future.
@Mandate was able to show some advantages of cryptocurrency in The Future of Cryptocurrency in Nigeria- Part 3
Some benefits of cryptocurrency in the future
1.Banking for everyone
Not everyone has the access to financial services. even if all the amenities needed would require the use of the internet
2.A more self centered internet
You won’t don't need to have all your personal information to use an Ethereum app. Ethereum is expanding an economy supported value, not surveillance.
