What is cryptocurrency? Cryptocurrency is a digital or virtual currency that uses cryptography for security. It is not issued by any central authority, making it decentralized. Bitcoin, the first and most well-known cryptocurrency, was created in 2009.
Cryptocurrency benefits:
– Transactions are fast and cheap. Because there is no central authority, there are no intermediaries. This means that transactions can be processed very quickly and at a lower cost.
– Cryptocurrency is global. It can be used by anyone, anywhere in the world.
– Transactions are secure. Cryptocurrency uses blockchain technology, which is a distributed database that is secure and tamper-proof.
– Cryptocurrency is private. Transactions are pseudonymous, meaning that they are not linked to your identity.
Why use cryptocurrency?
– Freedom and control. You are in control of your own finances with cryptocurrency. There is no central authority that can freeze your account or reverse your transactions.
– Protection from inflation. Cryptocurrency is not subject to inflation, because it is not issued by a central authority. This means that your savings are protected from devaluation.
– An investment opportunity. Cryptocurrency can be volatile, but it has the potential to offer high returns.
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“DeFi” stands for “decentralized finance,” and it refers to financial services that are based on open-source blockchains rather than proprietary systems. A smart gadget with an internet connection is all that is needed to manage one’s assets without the need for centralized financial middlemen. With a non-custodial asset management platform like Zerion, investing in DeFi … Read more
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