Hello, my name is Iram Memon. here I gonna tell you about the cryptocurrency and its benefits. Cryptocurrency is a digital or virtual currency that uses cryptography for security and operates independently of a central bank. It is decentralized, meaning it is not controlled by any government or financial institution. Transactions are recorded on a public ledger called a blockchain, which ensures transparency and immutability. Cryptocurrencies have gained popularity in recent years due to their potential for anonymity, low transaction fees, and potential for high returns on investment. However, they also come with risks such as volatility and susceptibility to hacking.
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2. Cryptocurrency have been around for a while now and there are
multiple
papers and articles on basics of Cryptocurrency. Not only have the
Cryptocurrency flourished but have opened up as a new and trusted
opportunity
for investors. The crypto market is still young but mature enough to
pour in
the adequate amount of data for analysis and predict the trends.
Though it is
considered as the most volatile market and a huge gamble as an
investment, it
has now become predictable to a certain point and the Bitcoin futures
are a
proof of this.
3. Many concepts of the stock market have now been applied to the
crypto market with some tweaks and changes. This gives us
another proof that
many people are adopting Cryptocurrency market every day, and
currently more
than 500 million investors are present in it. Cryptocurrency have
been around for a while now and there are multiple
papers and articles on basics of Cryptocurrency. Not only have
the
Cryptocurrency flourished but have opened up as a new and
trusted opportunity
for investors.
4. The crypto market is still young but mature enough to pour in
the adequate amount of data for analysis and predict the trends. Though it is
considered as the most volatile market and a huge gamble as an investment, it
has now become predictable to a certain point and the Bitcoin futures are a
proof of this. Many concepts of the stock market have now been applied to the
crypto market with some tweaks and changes.
This gives us another proof that
many people are adopting Cryptocurrency market every day, and currently more
than 500 million investors are present in it.
Though the total
market cap of crypto market is $286.14 Billion that is roughly 1/65th of the
stock market at the time of writing, the market potential is very high
considering the success despite its age and the presence of already established
financial markets.
5. The reason behind this is nothing else but the fact that
people have started believing in the technology and the
products backing a
crypto. This also means that the crypto technology have proven
itself and so
much that the companies have agreed to put their assets in the
form of crypto
coins or tokens. The concept of Cryptocurrency became
successful with the success
of Bitcoin. Bitcoin, which once used to be the only
Cryptocurrency, now
contributes only 37.6% to the total Cryptocurrency market. The
reason being,
emergence of new Cryptocurrencies and the success of
projects backing them.
6. This does not indicate that Bitcoin failed, in fact market
capitalization of
Bitcoin has increased, rather what this indicates is that crypto
market have
expanded as a whole. As far is crypto
market is concerned, volatility comes hand in hand, but so do its
most
important property i.e. Decentralization. Crypto market is
decentralized, what
this means is that the price fall in one crypto does not necessarily
means down
trend of any other crypto. Thus giving us an opportunity in the
form of what
are called mutual funds. It's a Concept of managing a portfolio of
the crypto
currencies that you invest in.
7. Conclusion:
The crypto market
might look risky at first look and many might still be skeptical of
its
authenticity, But the maturity that this market has attained
within the short
period of its existence is amazing and the proof enough for its
authenticity.
The biggest concern that investors have is volatility, for which
there had been
a solution in form of indices.
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