Why is cryptocurrency becoming so popular?



We've all heard of Bitcoin and other crypto coins at least once.  And this is not surprising, because our future belongs to them.  And today we will talk about digital money in more detail.


In order to receive cryptocurrency, you need to transfer dollar to btc.  This is the most reliable way to get money in a special wallet.


What are the advantages of cryptocurrency?

Against the background of problems in the global economy, people do not trust fiat currencies, they are looking for new options for storing and accumulating capital.  Virtual assets can replace conventional money in all areas, including trade and investment.


Highlight the advantages and disadvantages of cryptocurrency.  By understanding the mechanisms that underlie coins and tokens, you can find assets for different purposes: both trading and investment.


Interest in virtual assets shows the level of capitalization.  In November 2021, the volume of all coins and tokens was about $ 3 trillion, with the maximum price of bitcoin and altcoins.  The exchange rate has changed, and the market capitalization has fallen, and is at the level of the developed countries of the world.


Virtual money has existed since 2009, when Satoshi Nakamoto developed and launched the Bitcoin network.  From that moment on, the world changed: supporters of digital assets appeared.  No one denies the very existence of cryptocurrencies, the value of which depends on people's trust in them.


Virtual assets are based on blockchain - a decentralized distributed network.  There is no regulator that controls the rate, issue, sets the rules.  All transactions are stored in the blockchain, everyone can see any information (except personal).  The operation of the system is controlled by the users themselves - miners, validators and other participants (depending on the confirmation algorithm).


The benefits of cryptocurrency are attracting people.  Some traditional banks and state governments have adopted virtual money.  Main advantages:


* Decentralization.

* Anonymity.

* Low cost of translations.

* Unaffected by inflation in the traditional understanding of fiat currencies.

* Alternative to gold (for bitcoin).

* Great investment opportunities.

* Other features that traditional currencies do not have.


Many of the benefits of virtual assets are based on comparisons to fiat.  So far, digital coins cannot oust traditional money from circulation and replace it as the main means of payment.  However, in some areas, they have already proven themselves better than the Fiat.