Understanding The Pros And Cons Of Crypto currency Asset Management. Understanding the pros and cons of cryptocurrency asset management is extremely critical to you, if you have plans on investing in crypto currency. As You Must Be Well Aware Cryptocurrency is basically digital currency. But one of the most important aspects of crypto currency is the hard fact that it operates independently. Meaning, it is not governed by any central bank, anywhere in the world. Thus, if you have plans on investing in any form of cryptocurrency, it is very vital that you first get a deeper understanding of the pros and cons of cryptocurrency asset management. Pros of Cryptocurrency · Crypto currency is legal. · When cryptocurrency is mined, you can make lots of money in this way. · Because of cryptocurrency, trading anywhere in the world becomes extremely easy. · Crypto currency is 100% private. · As compared with various payment methods like Paypal and the like, the transaction costs of cryptocurrency are very low. · Total transparency exists with crypto currency. When you deal in Bitcoins, there is something known as a block chain. This is an open ledger on which each and every transaction is recorded and well maintained. As a result of this block chain, when any transaction is completed and it has been recorded on the register, it just can’t be changed. No person and no organization anywhere in the globe can manipulate this and this is the biggest feature available with crypto currencies. Cons of Cryptocurrency · Very select vendors accept cryptocurrency. · You might be using cryptocurrency to trade for something legal today. But tomorrow, that same cryptocurrency, could be used to make illegal purchases, by another person. Eg. Silk Road. · If your cryptocurrency has been stolen by a hacker, you cannot get it back. It is gone forever and all your money invested in cryptocurrency, is gone with it. · Because cryptocurrency is non-inflationary in nature, it lacks the kind of flexibility that can be seen in centralized currency. · Cryptocurrency is the ideal tool for criminal transactions. This is because any transaction that is made with cryptocurrency, cannot be traced. As such, cryptocurrency is used all over the world by drug dealers, arms dealers and the like. · If something goes wrong with a cryptocurrency transaction, there is no way to make that transaction right. So any money involved in that transaction, will be lost. · Cryptocurrency is not used by many people and most people do not even know of its existence. Is It Worth The Risk? Have no doubt about it, dealing in cryptocurrency can be a big risk. If you have plans to utilize digital currency, in the same way that you have been using your regular currency for all these years, then this is not at all recommended. But, if you have plans on investing in digital currencies like Bitcoin, then this might not be such a bad idea, as the value of Bitcoins have increased tremendously and continue to do so. Now you know the pros and cons of cryptocurrency asset management.
Today, cryptocurrencies are a fast-growing currency form, and an even faster growing accepted medium of exchange, especially in the online domain. More people are trading in cryptocurrency, and so they usually have some stock of the digital cash with them at a given point of time. When they want to exchange their cryptocurrencies for products […]
Cryptocurrency has broken through a variety of sectors, especially Bitcoin. Surprisingly enough, an average 50% of people are investing or trading in Bitcoin. Another startling trend of cryptocurrency is the fact that people have started using this in day-to-day lives. Some use it to buy and sell products and services! Let’s look at how people […]