What is Cryptocurrency?

4년 전

DEFINITION OF CRYPTOCURRENCY

The word root “crypto” in the English language, it comes from the Greek, meaning

“hidden” or “private.” From it, we get words like “encryption” and “decryption,” which

relate to the coding of a message, and its decoding once it's received.

A cryptocurrency is a digital currency that uses cryptography for security, more stable

and appreciates much more than fiat money that can be used for online transactions,

payment for goods and services.

Bitcoin, The Billion Coin(TBC), Ripple, Ethereum are major examples of

cryptocurrencies while Pounds, Naira, Dollar, Euro are examples of fiat currencies or

paper money.

FEATURES OF CRYPTOCURRENCY

This are some unique features of cryptocurrency which makes it stand out amongst all

others

  1. Decentralized: One of the key aspects of cryptocurrency is its decentralized nature

and open-source system. This unique aspect gives confidence to users to choose

cryptocurrency neutral field of decentralized finance over the problems of centralized

monetary services.

  1. User-friendly: Cryptocurrency provides a network between the users which is

popularly known as Peer to Peer Exchange, which enables you to send e-currency

from one device to other, anytime at any place in the globe without any limitation unlike

the conventional banking system with so many delays and protocols.

  1. Safe: Every cryptocurrency transaction is confirmed and protected by high-level

encryption. The cyber codes used in these transactions are encrypted as per industry

standards.

  1. Nominal Cost Unlike usual financial services, bank Charges, bitcoin system offers

cost-free money transactions throughout the world, except a voluntary fare to expedite

the transfer.

“CRYPTO CURRENCY is the future” | What E-mail did to post-office is what

Crypto-currency will to do the Banks which is known as the 7 th Global Disruption.

Bill Gates refer to this as “Unbanking the Bank”

WHY YOU MUST INVEST IN CRYPTOCURRENCY NOW?

However, there were those who took the risk and invested in Bitcoin in 2009, at a starting price

of 10 cents. By 2013, the price of bitcoin had moved from 10 cents per coin to $200 per coin,

thereby creating phenomenal fortune for all the early investors. Nobody lost their investment,

rather all become millionaires and multi-millionaires depending on amount invested.

Bitcoin all started January 2009.

If in 2009 you know about bitcoin when it was $0.10 (10 cents)

You bought and save 5000 units of bitcoin, it won't cost u $500. That's about #85,000 @ 170 naira per $ as of 2009.
5000 units of bitcoin in December 2013 at $1200 per bitcoin will be worth 6,000,000 dollars exchange in naira you would have #1,000,000,000
Imagine the value of that 500 dollars investment now that 1 Bitcoin(BTC) costs $2,500 in 2017
Its highly speculated that 1 BTC will hit 5000 dollars per bitcoin before 2017 ends.

From the illustration above, it’s evident that Cryptocurrency offers greater value than just leaving your cash in savings or fixed deposit account which is consistently being devalued by inflation especially in Nigeria.
Now you also have the opportunity to invest in Cryptocurrency such as Bitcoin, The Billion Coin (Grows daily between 1-5% daily), Ripple, Ethereum and earn unlimited residual income to start building wealth no matter your Income class, all you need is a proper guide from a Financial Advisor.

Recommended Books: The Cashflow Quadrant (Robert Kiyosaki) | The 7th Disruption

the next post will tell you why you should use bittrex instead of poloniex

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