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Overview of cryptocurrency

The world of cryptocurrency has grown magnificently,with the lunch of bitcoin in 2009,the financial sector took a whole new level with with birth,since then we have see an estimated of 1500 different coins up to this day.This sphere is still evolving into the perfect system of internet of value.This innovation gives investors the ability to transfer value(coins,tokens) as fast as the transfer of information across the internet.The internet is the best soltion to the issue of scalibilty on both blockchain and cryptocurency sphere.The total market worth of the entire crypto world rapidly growing,notice this drastic increase as of last year only:As of august 2017,the total worth of cryptocurrency was worth about 150 billion dollars,as of the time of writing this post total cytpocurrency worth is estimated 400 billion dollars,Despite the low price of cryptos.analysis prove that the total market cap of cryptocurrencies would hit 1 trillion dollars.These numbers is made possible due to the relentless effort of investors and believers of cryptocurrency.

Reasons why people fear cryptocurrency

Alot of individuals still ignore the fact that,crytpos will soon usher in the new monatary system to replaace fiat currency,i have made a close study why people have so much disbelief in cryptos.below are some of the reasons to this conundrum exists:

1

Internet scam/cyber theft

In my home country (Nigeria) and the world in general,many investors and online business men and women has had their assets snatched from the grasp.Most investors has suffered this problem several times,this situation leaves most investors than to believe that its impossible for an internet service no matter on whatever name it comes as a complete scam embedding fear of the taking such risk of what is unseen.I use my self as a case study,for sometime i have heard a bad feeling concerning steemit,but as i got closer i found out that steemit is nothing like the scam i have often end up with.

2

Ignorance About Cryptocurrency

investors do not invest in what they do not know about,there alot of people who have not heard about cryptos or bitcoin for the first time,wherein you tell an investor to invest into an unknown system such as bitcoin,steem and engage in a social blockchain like steemit. ignorance concerning the existence of this sphere,if they do hear about it,uncertainties are present.

3

Poor technical know how

Cryptocurrency is a new innovation to most investor trading and making transactions in this platform has a lot of needed knowledge and skill,knowing when to trade your coins,and when to retain them and its price.many investors has lost a huge amount of coins due to zero experience on wallet and exchange procedures. The huge task of learning about crypto and blockchain discourage a lot of investors who decide to continue in the old traditional means of investment.

4

Decentralized settlement

All cryptos have a common nature of settlement.decentralization has been a major blow to most investors who see the risk of investing in crypto as very high.The often think that since there is no central agency as to things pertaining to crypto,they think that the few rich individuals in system would make away with their assets without any trace.

Conclusion

I believe solely on crypto and the change that its introducing into our montray system,few months back it didn't have the slightest inclination as to what steem was,yet i got introduce into the system is happily steeming.Though i wasn't here when the price of steem was high i still believe that steem will rise again as other cryptos will.

My fellow steemains,i know the price and current state of all cryptos are very discouraging,yet i urge you all to continue steeming soon we will smile because of steem.

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