Is Cryptocurrency a Hot or Not Thing?

 

Cryptocurrency is not bound by any country or bank. It can be used and accepted worldwide. It can be issued by a computer or any piece of hardware. Some people believe that only 3.9 billion people, if using cryptocurrencies, can cause a collapse of the current financial system. Bitcoin, Ether, Litecoin and Dogecoin are some of the popular currencies. Bitcoins is the biggest currency as it has gained a lion’s share of over 50% of the total value of all cryptocurrencies in the world. People are investing huge amounts of money in cryptocurrencies because there is no way of knowing their real worth. Each and every coin and token created has different properties which are at least partly related to its price. Bitcoins is worth $700 now, is it worth $9,000 and $50,000 by the end of the year? Invest with secured platforms like YuanPay Group.

 

Cryptocurrency as a hot or not thing?

Digital money Money as we know, comes from tangible sources. We live in a world where the central bank and its policies reign supreme. The policies and monetary policy of the CBN cannot be trusted to a level where it can justify reckless and uncontrolled pump of money into the economy without consequences. The cost of money is already very high. Interest rate on your savings account in a bank will give you 2% per year. Cryptocurrency however does not rely on banks to transfer its funds between counterparties. It is like money but the process of transferring money is fast, inexpensive and stable. The reason? Cryptocurrency is the transfer of cryptocurrency between parties.

Why is it valuable?

The newly launched coin had a market capitalisation of $9 billion as of January 8, 2018. It had some of the top investors like Tim Draper as the Chairman. Then, there is, Jamie Dimon CEO of JPMorgan who said "Bitcoin is a fraud" and "people who bought it at $20,000 are going to love it when they sell it at $2,000.” David Miller founder of Magma Venture Capital said, "The key to understanding why Bitcoin's price keeps rising is that the supply of this digital currency is actually limited, and this means that Bitcoin's price is rising because the number of Bitcoins that will ever exist is finite. This means that the supply is set to get smaller and smaller as time goes on, allowing Bitcoin to become even more valuable.

How to invest in crypto?

Investing in cryptocurrency is both easy and attractive. You can buy bitcoins at its exchange in exchange for a new currency. It may be difficult to be accredited with appropriate financial framework to invest in crypto. However, there are online casinos offering a number of crypto games. Most of these online casino sites are not regulated and hence are riskier to invest in. They offer players the chance to gamble in sports and games or you can use real money to make your crypto pay off. You will not be able to stop a player from cheating but you can effectively check his/her crypto coin balance and place a bet only after confirming the legitimacy of the player. If you are really serious about investing in crypto, then a wide range of investment options are available.

Conclusion

It’s not easy to gauge whether the rapid growth in the cryptocurrency market is here to stay, if it’s here to stay, how many Bitcoins, digital yuan can be generated or worth, whether or not it will ever be a worldwide currency. These are the most crucial questions concerning the fate of Bitcoin. But, the journey is one of discovery and hence, we will have to travel and make our own conclusions.