Steemit Crypto Academy Contest / S2W2 – Cryptocurrency Adoption by @suraj22

Hello Steemians how are you all I hope you all are doing well so friends basically in this new week post I will tell you about the adoption of Cryotocurrency so without wasting any time let's get started today Post.

1.) Discuss the adoption of cryptocurrency in the financial market and how businesses can be boosted through cryptocurrency transactions.

We all know about the Cryotocurrency it is a digital currency and it is a Decentralized network and it is and it is very useful for all people because if you don't have a time and you want a send a payment to another person at another city or country so send the money without any intrepution and if you don't use this so after you go to the bank for payments and wait for hour and after so much you recieve your payment and if you use this you save your so much time and the Cryotocurrency also have very high tech security system so no one can easily hack this.

Now in this adoption of Cryotocurrency so adoption is is that people adopt that thing and start using it this is the meaning of adoption now adoption of cryptocurrency has been adopted in many countries and many countries are adopting them in other country they making the law and in this law they will decrease the chance of risk before investing on the Cryptocurrency so in many countries they also have started to adopt.

Cryptocurrency adoption is also increase because in this modern world all people want a digital payment not cash payment because they don't want carry money in our wallet and it is also risky because If you keep money in your wallet, there are chances of it getting stolen that's why the adoption of cryptocurrency is needed in this modern world and the old people don't know about the digital currency because they only use cash payments that's why they don't know about this.

The Cryptocurrency is only Currency which grow so fast from 2009 to 2017 it grow so fast and in my home only few people do digital payment including me I pay my fees through digital payment and I buy my protein and other supplement through digital payment and in my area the adoption of Cryptocurrency is increasing day by day because this is a easy method and not risky my all friends also adopt this and in the future all people adopt this and future of cryptocurrency is bright as I tell you some country already adopt this and some are trying to adopt.

Cryptocurrency use blockchain technology and the adoption of cryptocurrency is also good because this make people rich so fast because they buy coin and they wait until the price of the coin is increase and when the price of the coin is increase then they sell the coin and they made a more profit that's why adoption of cryptocurrency is now increasing.

2.) How businesses can be boosted through cryptocurrency transactions.

Now I talk about businesses can be boosted through cryptocurrency transactions so let's Start this.

• Easy Payments

Now the first is Easy payments, easy payment is you send and receive your payments at any place of the world easily without wasting any time and if you don't use this so you go to the for sending and receiving payments and wait for hours and if you use this your work is completed by only click you send and receive your payments easily and you save your so much time.

• Security

Cryptocurrency is safer than the other platforms because it uses blockchain ledger which have a so many mathmatical puzzle and no one can solve these puzzles and hacker's can't hack this that's why this is safer than the other platforms.

• Limitless Transactions

In this, you can withdraw as much payment as you want without any restriction there is no limit like conventional currency in conventional currency there is a limit but in cryptocurrency there is no limit.

• Decentralization

Cryptocurrency is a Decentralized network no one can control this like conventional currency in conventional currency it is controlled by government but it is not If you ask to make any payment, then the government or anyone else will not stop you and you do business with this you have a complete control government will not interfere in you work.

• Fast Payments

In cryotocurrency the Payments is so fast if you don't have much so you use this platform for sending and receiving money you save your so much time.

3.)What is your opinion on cryptocurrency being accepted globally for our day-to-day transactions.

According to my opinion on cryptocurrency being accepted globally for our day-to-day transactions because it saves more time because if you want to send and receive payments so you go to the bank and you wait for hours and after so much time you recieve you payment and so much time is waste in bank and if you use the Cryptocurrency method so you send and receive payments so fast and at any country or city and it save more time.

In Cryptocurrency there is no delay like conventional currency and there is no limit in cryptocurrency like conventional currency there is limit and conventional currency is a CENTRALIZED network and this is controlled by the government and Cryptocurrency is a Decentralized network and it is not controlled by anyone it is fully independent and also cryptocurrency best because As you all know that in this time there are also crimes which are theft and there is a danger in it if you keep money in your wallet Then there will be chances of it being stolen and if you do it in digital method then there will be no chances of it being stolen so use digital methods of payments to reduce the rest of stolen.

You go to a shop to buy something and you buy a lot of goods, then it would not be right to do it in conventional currency at that time, so if you buy all good by paying with digital currency so it is better and safer and accepting of cryptocurrency is increases because some country is already accepted this currency and some are trying to accept this currency.

Acceptance of cryptocurrency is best because if your any family member living outside your country and he want send you so cryptocurrency make it easier he sends you a money so fast and this is a very easy and without using this method if he send you money in the conventional currency so you have to change it to your national currency and it take so much time that's why the acceptance of cryptocurrency is good.

4.) Do you think the high volatile nature of the crypto market is a concern to business owners? Discuss.

According to my opinion yes I do think the high volatile nature of the crypto market is a concern to business owners this is because of the high volatility of the Cryptocurrency this is the reason why the many business man is not accept because They are afraid of being loose, that is why they are not adopting it.

As you know about the luna coin this coin is fully disappear some invest more in this coin and some invest less but they lose there all money so Those people who would have invested more, then heart attack will be ordered by knowing about Luna.

Those people invest in cryptocurrency some are getting profit and some people are getting lose and then the other people buy the coins when the price of the coin is decrease and they sell the coin when the price is increase and then they earn more profit.

5.)What other factors are currently limiting the adoption of cryptocurrency and how can this be solved?

There is so many factors currently limiting the adoption of cryptocurrency so let's talk about these factors.

• Volatility

As I talk of this in the previous question the high volatility of cryptocurrency limiting the adoption of cryptocurrency because the increasing or decreasing of price of the coin as I told you about luna coin it fully disappear and the some people have a risk in this and fluctuation of price is make you rice or sudden poor.

Solution

Solution of this is there should be a limit in cryptocurrency There should be a limit in this that the price will fall only till this and will not fall after that like the price will fall only by 1 dollar and won't fall after that.

• Fake Advertisement

Media always makes wrong advertisements about cryptocurrency and hurts people about it limiting the adoption of cryptocurrency they make fear inside people.

Solution

Solution of this is Media has to stop making wrong advertisements and people have to tell good things about it and people will also have to tell its benefits.

• Security and Privacy

On this platform, the flow of money keeps going on all the time and many hackers do not keep an eye on it that when they get a chance and hack it Some time ago it was hacked by someone, so it has reduced the trust in the people for it.

Solution

Solution is Its only solution is to assure people again that our system is now safe and now no one can hack it.

5.)Discuss the Pros and Cons of cryptocurrency adoption by business owners.

PROS cryptocurrency adoption by business owners.

• Faster Payments

You send and receive the payment within in a second and in one click at any time at any place.

• No charges

In cryptocurrency transaction there is a no charges and a only small charges.

• Available at all times

In cryptocurrency there is a no time of use this you transact at any time day, night or afternoon and at any place there is a no particular time in cryptocurrency.

• No limit

In Cryptocurrency there is a no limit you send and receive any amount of payment without any restrictions.

CONS cryptocurrency adoption by business owners.

• Volatility

The volatility affect adoption of cryptocurrency by business owners because as I told you in there is a no limit of price increasing or decreasing like luna the luna price is decrease day by day and in the it fully disappear and busines man can't take this kind of risk this thing suddenly make them rich and if price is drop then suddenly make poor.

• Loss of private key

As you know crypto is store in your wallet if you lost your private key so you can't access to your wallet and you lost your all crypto because your crypto is store in the wallet not in the bank.

• Risk of Hack

We know this is so Secure platform But if this is an online transaction, then there is a risk of getting hacked in it, as you know that some people had hacked it some time ago, that's why trust of the people is decreases.