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Hello dear dear brothers and sister of steem kids and parents I warmly greet you all and I believe you all are doing great likewise me. Without out wasting much time I will write an article about Crypto and technology. Stay tuned as you read along!

What is crypto in a lay man terms.

Crypto is a virtual or digital money that doesn't require a bank or financial institution to verify transactions and can be used for purchases an investment and as a medium of exchange between individuals and businesses. They used encryption algorithms and techniques and this encryption algorithm is the method used to transfer currency or data into a cipher text.

Just like our traditional currencies, cowries, coins and to be precise physical notes were used for exchange of goods and services but cryptocurrencies only exit in digital form and are saved in digital wallets they are based on a technology called blockchain.This platform called Steemit is a decentralized digital currencies that provides a peer-to-peer (p2p) flow. It’s also a blockchain database and a great asset in this digital age.

Have crypto changed your life? How did crypto changed your life.

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Yes, crypto has really changed my life not just me bust my family too. Cryptocurrency has really played an important role and also made me a better person. At first when I heard about cryptocurrency I doubted and never give it a thought because back then I wasn’t a fan of online business and trading until one day I stumbled into a friends write ups on how he had made it big and how fun it was for him making it real big seeing that made me to pull more courage. I invested by taking a bold step later run it paid me too in a way I could never imagine! While on the process I loose and also win which is normal in every businesses.

After earning pretty well I bought a smart phone, standing fans, few tools for my work, cleared debts and a small table refrigerator I mean this happened 2019.it really saved my ass.

Advantages of cryptocurrency.

These are the advantages of cryptocurrency which includes;

• Zero transaction fee: Cryptocurrency transactions are peer-to-peer (p2p) and they do not require a centralized intermediary like (CBN) Central bank of Nigeria involves fees with the conversion of transferred funds.

•Fast Payment: In cryptocurrency there’s fast near peer-to-peer (p2p) transactions unlike centralized banks that take ages for instant payment.

• Reduction of fraudsters: Goods and services are oftenly open to strangers to buy and sell goods across geographic boarders. This is an open Cheque for fraudsters to manipulate nevertheless crypto technology helps to fight the risk of fraud.

• Speed and Accessibility: Cryptocurrencies speeds up the accessibility of financial services with the whole help of decentralized network and can easily be accessed.

• Decentralized work: Cryptocurrency provides a decentralized framework that level up the playing field by allowing the individuals make independent peer-to-peer (p2p) transaction and eliminating the middlemen.

Disadvantages of crypto
Here are the disadvantages of crypto;

• The lack of trust: One of the things that stand in the way of cryptocurrencies getting the respect they deserve is the fact that there is no trust.

• Crypto newbies are exposed to risks: Crypto newbies are vulnerable to risks in terms of meeting a fraudsters in essence to help them. Crypto might not have the risks that come with using central intermediaries, but that doesn’t mean they’re completely free from security issues.

• Cryptocurrency exchange rates are vulnerable to cyber attacks, which could lead to an irreplaceable loss of your investment.

• There are also websites thefts that let you store your cryptocurrency remotely thereby making you loose ur virtual wallet or data.

Conclusion.
It’s is known that cryptocurrencies definitely have the good potentials to change the world of finances and business at large.
I invite @joymm @ptem and @chiomzy810 to take part in this contest.

Thanks.