Wednesday, June 20, 2018
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What can you really do with crypto currencies?

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There is no right or wrong way when it comes to investments. Some prefer long-term options while some look for short-term ones with a great liquidity. It all boils down to the matter of personal financial goals.

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Crypto currency as an investment opportunity

With the growing awareness about the importance of the right investments and the tax benefits, they offer there are now numerous flexible choices. Among all the investment options crypto currencies are recommended as one of the most profitable ones. Earlier people merely saw them as digital tokens that could be exchanged in order to make some purchases. But then as the demand started soaring there was a sudden growth in the value of the tokens. And this was how the trend of trading in crypto currencies was born! So people buy tokens when they are still relatively new or even the well-established ones. And then they sell the currencies when they have increased in their value.

Crypto currencies for online transactions

In fact, this is the very first application for which people bought the tokens. There was first just one crypto currency introduced. Thanks to the success of the idea and the good impression it created on the investors the value increased and this opened the way for several new currencies. From there on, there has been no turning back. There have been many new ICOs released by new ventures.
The recent news that has delighted crypto currency investors has been the introduction of the Circle USD Coin by Goldman Sachs. The mere fact that such a huge financial firm, one that has won the trust of millions around the world, has introduced a crypto currency, is strengthening the credibility. And there is one other good thing about this – given that such a big financial institution is offering the crypto currency it would soon be accepted in several places. So payment with crypto currencies would become simpler and more practical. You would be able to purchase these currencies with FIAT currencies and later use them for a majority of your online payments.

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The crypto currency difference!

There are many that still have the confusion in mind about the need for crypto currencies when there are many other ways to directly perform online transactions. The real difference lies in the security aspect. Crypto currencies get their name from cryptography which is used to secure the system to reduce the chances of cyber attacks. This is the revolutionary addition that gave crypto currencies an edge over the others. The Blockchain system that lies at the core works on decentralizing the ledger where the dependency on a single server would be eliminated. Adding blocks would be made simple but modifying the existing chain is made nearly impossible. So the investors can be assured of the security that they would expect from a digital system. Hackers would also find it more and more difficult to hack into the system. There is no single point of failure that might lead to the crash of the system and the subsequent loss of data.

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