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Cryptocurrency solved problems :

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Written by   64
1 month ago

Cryptocurrency is like a moon in dark night and we all know that cryptocurrency is like a blessing for us. Day by day the popularity graph of cryptocurrency is increasing. We also know that now a days market is going mean and bullish but the trade volume is still valuable. It shows that people are interested in it. People compare cryptocurrency with gold and term it digital currency. Every second person know about cryptocurrency and the person who just get a little knowledge about trading and Investment wanted to learn much more and shows his crazy behaviour towards crypto market.

Crypto's importance :-

Let imagine a situation that you have to send money to your friend via online system and we all know that there are so many online procedures by which you can send money to your friends but keep in mind one thing that as many methods there are, as many chances of a transaction to go wrong. Including:

If you go bank , then the machines can show any type of error like machines are not working well or the system is down .

There are chances that your bank account got hacked because of an identity theft is there. But crypto market shows us advantage that there is almost no possibility to hack the account because the whole system of cryptocurrency is hold by Blockchain technology which is advanced we can compare this technology with DNA in humans like in DNA the nucleotides have certain type of information encoded and that information is purely unique also there is chain of nucleotides linked together in a proper sequence same mechanism is followed by Blockchain technology you can say that there are blocks which are containing unique passcodes and I formation which is completely saved and working through a proper mechanism so there is no chance of getting hacked. Theoretically it may be possible but in reality it has no existence because if some one want to hack the system he should do so much work hard like he has to gather almost fifty percent of knowledge about the information of blocks in Blockchain which is impossible.

And thirdly, your friends account or your account could have exceeded the limit .

All these are possible scenarios of failure of system. Towards all these problems which are faced by us cryptocurrency was introduced.

If you are working with cryptocurrency , you can immediately answer these problems which we faced with our traditional money. In cryptocurrency you can send money to your friend or anyone else just in few seconds. In banks we have to complete so many formalities but in cryptocurrency we do not have to do such type of things the transactions in cryptocurrency are smoother as compare to banking system. The objective of cryptocurrency is to remove all the issues that come with traditional banking . There is no limit set in cryptocurrency you can send as many bitcoins you want and also you can receive as many Bitcoin as you want to receive. But one thing that in cryptocurrency all the transactions are public worldwide it means that anyone can see your transactions. You have proper access to your wallet and no other person can have access to your account because only you have the unique code for your wallet. There are no glitches or any technical issue in cryptocurrency while sending or receiving money but you should be careful while sending or receiving and make sure to ensure the address on which you are sending because all the transactions all irreversible you can not put any claim it would be purely your fault.

These are some points about cryptocurrency be sure and enjoy .

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Written by   64
1 month ago
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Comments

But cryptocurrency has another side in many ways it is not suitable but yes if you have mentioned so good

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1 month ago

These are the reasons why I'm so thankful of having known cryptocurrency. It's have so many disadvantages when you compared to cash.

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1 month ago

Yes cryptocurrency brings so much advantages with it one of them is readcash for us

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1 month ago