Grassroot Crypto Education | Series 2 Volume 6- Contest: Crypto Wallet or Bank.

Introduction.
Been a member of the grass root crypto education has helped me increase my knowledge about Cryptocurrency, I can now identity trade pairs, place a buy/sell order all thanks to the grassroots crypto Education. Today we will be looking at a Contest still related to Cryptocurrency, much appreciation to the organizer @fredquantum.

Well before I attend to the questions on the contest let's look at the definition of Cryptocurrencies, conventional currencies, and the difference that exist between them.

Cryptocurrency.

Cryptocurrencies are virtual currencies in which transactions are first of all verified before been added to the blockchain. For the fact that Cryptocurrencies operates on a blockchain it is nearly impossible to hack. Cryptocurrency is operates in a Decentralized system of government.

Conventional currencies.

Conventional currencies or traditional money are currencies that are regulated by the government of a country. Conventional currencies operates on a centralized system and needs the intervention of a third party before transactions are carried out. Conventional currencies system can be hacked or tempered with, conventional currencies do not observe a rise and fall like Cryptocurrencies do.

Conventional currencies	Cryptocurrencies.
Currency issued by the government.	They are digital currencies which operates on a blockchain.
They are generally accepted by the country.	Not every country accepts the use of Cryptocurrencies.
Traditional money are stored in the bank.	Cryptocurrencies are stored in encrypted wallet.
Low level of volatility.	High level of volatility.
Requires third party	No third party required.

Momma offered you 10 USD to keep it for 2 years Would you keep it in the crypto wallet or bank?

If I haven't been following up in the grassroots crypto Education then I would have kept it in the bank, but seeing the benefits that comes with investing in Cryptocurrency, I would keep the 10 USD given to me in a Crypto wallet as it must have yield more before the time to return it to momma, I can already picture the smile on her face when I also give her the interest I made.

Why do you go for the choice above?

The Crypto market is volatile, so I will make research on a good coin and invest the 10 USD given to me, it will yield interest for me, putting in a bank is like a waste of time as they might even deduct from it and tag it for bank charges.

There's high possibility of getting profit if I invest in Cryptocurrency compared to when I just store it in the bank, interest from banks are small and cannot be compared to when one invest in good crypto token.

Is any harm attached to your choice? Explain.

Of course there is harm and risk attached, since the crypto market is volatile there's high possibility of loosing the money given to me, to avoid such risk one needs to be careful about whick token or coin to invest in, study the market and know when to buy and when to sell off.

Conclusion.

In conclusion, Cryptocurrency is here to stay despite the fact the government of many countries banned the use of Cryptocurrencies but the citizens still trade Cryptocurrency thanks to peer-to-peer network.

Thanks for reading my post.

_{I invite @jlvillamizar @joymm @madilyn to participate in the contest.}

15% payout to @steemkidss