Cryptocurrency, Despite its Weird name, Nffers the same to the World of Finance.

in #cryptocurrency7 years ago

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If you have a digital “wallet”, you can instantly buy or sell anything without permission from Visa, Mastercard, any banking institution and without government taxes, intervention or regulation.
Transfers from your digital wallet occur almost instantly, unlike bank wires that could take days, especially for international transactions.
Also, there are minimal fees and almost no restrictions.
In fact, it’s been said that cryptocurrencies will do to the modern banking and financial sector, what online news did to newspapers.
Yes, I’m talking about a complete and utter overhaul to literally the underlying foundation, the economic institutions and the medium of exchange on which the entire world’s economy is built upon.
It would not be surprising if in a few years that the US dollar will no longer be the world currency pegged to crude oil, but instead in its place a cryptocurrency.
There are trillion of dollars to be made and unlike the tech boom of the 90s, now this time, you can take part in this too!
If you are under the impression that cryptocurrency isn’t safe because it’s not backed up by an underlying physical commodity, then let me tell you something.
Did you know that only 4% of the world’s wealth is physical – tied up in hard assets like cash, gold, land and products?
96% of it is digital. Stocks, credit, numbers in a bank account and other things that exist on a balance sheet.

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raditional currency is centralized – under the control of bankers and politicians who manipulate that value to meet their immediate selfish needs.
And the Global Financial Crisis of 2008 caused by these centralized institutions have proven to you their system of control and regulation is totally corrupt and not to be trusted.
On the other hand, cryptocurrency is a digital currency and completely decentralized.
The infrastructure on which cryptocurrency is built upon is maintained through a complex network of interlinking computers that constantly check and monitor each other based on mutually agreed pre-existing sophisticated mathematical algorithms.
Each calculation and transaction is publically recorded on the blockchain on the internet and is completely transparent.
There is no central governing authority over cryptocurrency and therein lies it’s power.
No institution, corporation or government can game or rig the system.
Now you can understand why cryptocurrency is one of the safest investment classes in the world because it is completely immune to inflation, manipulation, dilution and most importantly corruption.

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