04 Sep What You Need To Know About Investing In Cryptocurrencies?
Cryptocurrency also called digital currency is a currency that exists online without being dependant on any bank, country or any governing body. Its value is determined wholly on public sentiment as it does not have the backing of any physical asset. In fact, the worth of cryptocurrency is ruled by what people pay for them.
It is common knowledge that in the last couple of months the price of bitcoin has leaped from a marginal investment to a worldwide sensation.
he price of one bitcoin that revolved around $3,000 in the beginning of mid-November reached a global $19,000 in the beginning of December. But one thing is certainly clear, the technology behind a bitcoin or other similar cryptocurrencies will change both the national as well as global financial system in future.
The Blockchain – A Digital Ledger
Cryptocurrencies rely on blockchain a relatively new technology that makes secure transactions that just cannot be hacked. Though transactions relating to bitcoin are assured, the verifying cost of bitcoins is quite expensive.
Cryptocurrency transactions take place not in a bank but directly between individuals
Every time a cryptocurrency transaction takes place, funds in a crypto wallet are used to give a bitcoin to another individual, the whole transaction gets recorded in a digital ledger also referred to as a blockchain.
Benefits Of Investing In Cryptocurrency
The popularity of cryptocurrency over other traditional currency is due to its several advantages
- Protecting your assets in case of political instability that can arise due to collapse of the government, banks or currency.
- No Taxation on capital gains as cryptocurrency is not quite recognized as real investment as it does not belong to any one country.
- Its popularity arises from the fact that it is an anonymous currency and all transactions are encrypted i.e. no one has any knowledge of who bought and sold.
- Cryptocurrencies are completely protected against fraud and cannot be counterfeited
- Cryptocurrency has universal access and can be used round the globe
Pay For Entertainment – Punished Bad Teens
Cryptocurrencies are making its debut into the digital world of adult entertainment. With recent premiere of special coin dedicated to purchases on famous PornHub website another project is inspecting the impact of this phenomenon. We are talking about Nubiles series called Punished Bad Teens where naughty fantasies of stepdads punishing their stepdaughters are becoming real. Watch these misbehaving girls taking a lesson from person they thought they can trust. Is it bitcoin ready?
Risks Or Disadvantages Of Investing In Cryptocurrency
It is advisable to study the risks entailed before you decide to buy digital coins. The various risks are as follows
- Cryptocurrency is volatile and unpredictable as its value can fall around 10% to 20% or even more in one day
- The biggest risk to digital coins is hacking especially for retail investors who are not in a position to take the necessary precautions in protecting their coins. Web vulnerabilities can cause risk to your assets in the form of digital coins
- Accidental loss or misplacement can result in case you forget your digital wallet passwords as this will keep you from accessing your digital wallet. In such cases your crypto coins become non-existent.
- Its utility is very limited as very few places accept cryptocurrency as it is still not a common mode of payment
- The anonymous nature of cryptocurrency can lead to illegal or illicit activities
- Cryptocurrencies are energy intensive causing environmental destruction
- As no one spends digital assets the currency is becoming more of a miscalling. Very few retailers accept crypto currencies, so people just seem to be buying cryptocurrency with one aim, hoarding.