£0.00
May 16, 2021
Comments Off on Is your crypto legit?
There is less or no certainty of safety, ideally. And from what we have seen, any crypto newbie is prone to scams. This is why this article will guide you on how to be safe with several ways to trace legitimacy. Through this, users can understand which crypto coin is secure for investments.
The online world of crypto investments has illegitimate cryptocurrencies, exchanges, and apps. 
These are shadow exchange and blockchain platforms. The only motive for their existence is to disappear in thin air. There are many safety measures people should consider before investing in crypto coins. The most important thing is thorough research before engaging in any digital transaction. It’s essential to understand the whole picture. Investigations are necessary for any given cryptocurrency offerings before making a decision. But, to save you some slack, I have some easy tips for you to protect you from that extra load. Your money ought to be safe, therefore, learn these key points right away!
These are shadow exchange and blockchain platforms. The only motive for their existence is to disappear in thin air. There are many safety measures people should consider before investing in crypto coins. The most important thing is thorough research before engaging in any digital transaction. It’s essential to understand the whole picture. Investigations are necessary for any given cryptocurrency offerings before making a decision. But, to save you some slack, I have some easy tips for you to protect you from that extra load. Your money ought to be safe, therefore, learn these key points right away!Ways of Determining Legitimate Crypto Coins in the Market
Abnormal Packages for Investment:
Sometimes, a crypto platform may offer some illegitimate claims. These are for clients with a motive to enroll them for subscriptions. Users get maximum rewards for trading given cryptocurrencies in given amounts. But, some sites offer bonuses that are non-sustainable. There is a possibility of a cap with a minimum withdrawal limit. And then, after few weeks, you stop receiving. However, people can be easily trapped by this. If you want to avoid this, be through with the checking. That’s why it’s essential going through the paperwork and understand how they operate.
Non-existent Code:
In truth, not everyone will be in a position to “scan” the base code of a digital currency. The base code is an aspect that activates this cryptocurrency. But, to avoid this confusion and avoid crypto groups who are offering base codes for free. By this we mean, the code is available for everyone in such a way that it’s read and editable. Knowing the base code is very important it is proof of legitimacy. So, avoid any companies seeking to keep their base codes a secret. Because this is what most illegitimate and fake platforms do.
Keep Check on the Whitepaper:
The
Whitepaper forms the most critical part of a unique and initial coin offer (ICO). It tells the interested clients how it operates. This also means various prospects and comparisons with suitable currencies. You will also see a road map of its future growth. This will include how the currency platform intends to generate money. It is easier to understand the most typically how the offer is set to operate. Are you one of those who are not really interested to read a Whitepaper? Then it would help if you got some sense before investing in a new currency. Through this, you will understand whether there are some trusted ones or not.
Unrealistic Promises:
It’s an incredible deal when a cryptocurrency promises 500% in 8 months. Before jumping into the contract, think about the deal’s reality. It’s one of the fraudulent methods of initiating scams for illegitimate rewards. These types of promises will regularly pop up from the internet. All the claims will be relatively high, offering “guaranteed rewards.” But with no supportive details as to why the ICO is available for such offerings and purchases.
In conclusion, you can consider these points before investing in any crypto coin.
May 8, 2021
Comments Off on Which Crypto Exchange offers the best Future Trading?
Are you looking for a good platform for trading futures in Crypto? We have insights into crypto platforms offering the best cryptocurrency future trading. Learn how the system works and be an early bird taking great advantage.
Crypto Futures provides an opportunity for investors to get exposed to virtual assets. Traders can use this to trade in coins with no physical ability to get hold of the available assets. Some Futures, like Bitcoin, typically work like contracts for bonds or indexes. It usually grants investors speculation on the price tag for digital currency. Some of these contracts are simple agreements to purchase & sell digital currency. These are at a specific period for a price that’s constant. Let’s get down right away to our best three Future exchange recommendations in the crypto world.
Crypto Exchange Platforms for Future Trades
FTX:
Undoubtedly, FTX is the most enhanced and preferable site for Future trades. It came into the digital marketplace thanks to a prominent investor, San Bankman-Fried. The site integrates superb innovation, thus becoming the fast-developing platform globally. Why do traders fall for FTX?
In truth, the platform is less expensive and diversified. Furthermore, it’s user-friendly and effortless to use. Users also get to learn Futures and options guides. FTX offers deals on 100x never ending nor changing Futures, USD as well as USDT. Having FTX at your fingertips, you can carry out trading for all Defi tokens. The available modes of payments include cryptocurrency, Bank transfers, Bank wire, among others.
Binance:
It’s another appropriate recommended site for Future trading. It has consistently held the top position in being the world leader. And Binance always tops the list for offering cryptocurrency futures trades. Clients enrolled with Binance can transact with multiple digital currencies. This includes Ripple, Ethereum, and Bitcoin. Regardless of where you are, open an account in seconds. With Binance, you get the opportunity to benefits from top-notch Future trading.
Why is Binance an option?
Here, prospective and active investors can enjoy cheaper charges. When compared with other Future platforms in the world, this is cheaper. The payment modes available with Binance trades are also great. It includes ACH-Bank transfers, Credit &Debit cards, and digital currencies.
Kraken:
Established in 2011, Kraken has experienced substantial growth in the crypto sector. Kraken is also a good option for traders searching for the best Future trading platform. It grants users the ability to carry out trading practices. You can trade in virtual contracts like Ethereum and Bitcoin Futures.
Why do users prefer Kraken?
Traders know that Kraken has favorable fee structures. They also like its outstanding site security and private data storage procedures. It’s has a good reputation and is easy to use. Concerning the modes of payments, Kraken is diverse. Users can use cryptocurrencies, Bank transfers, bank wires, and many more methods.
April 24, 2021
Comments Off on What is Ethereum Staking?
Today, we would like to help you understand the whole meaning of Ethereum staking. Furthermore, check this informative piece on Investors can now purchase cryptocurrencies using Venmo. First, let’s learn about the staking process. It incorporates the act of locking specific cryptocurrency amounts in the digital wallet. This is to take part in the process of a blockchain for returns.
Typically, everyone is allowed to be a part of this process. Whereby a noticeable variation grants access for participation.
The Stake Process
In this, people who are ETH holders act by placing a 32ETH for the validator software activation. 
Any validating agent has the responsibility of keeping related data. And then completing the transaction process as well as identifying additional blocks.
Any validating agent has the responsibility of keeping related data. And then completing the transaction process as well as identifying additional blocks. So that Ethereum remains safe for every individual who looks forward to earning new ETH. This procedure is also known as the proof of stake. The proof of stake is commonly known as PoS. It is a method taken into account by given several blockchains. It’s a way of providing some tokens to those already in the staking network. This is to gather rewards used for block validation.
In order to perform token staking, you may need to follow a given procedure. This will determine who is to qualify for a selection. After the qualification, the validator validates the blocks to earn some stake returns.
The Ethereum Rewards and Risks
Once the validation of blocks is complete. The network will achieve its general agreement, and then offer rewards. This happens after an individual goes ahead to batch a transaction to another new block. Or after a close check of work of fellow individuals. This retains and helps the whole chain to run safely.
Besides 
returns for work done to benefit the whole network. There is a probability of losing ETH because of malicious acts. Other risks include being offline and the failure to do the block validation. What are the Requirements?
returns for work done to benefit the whole network. There is a probability of losing ETH because of malicious acts. Other risks include being offline and the failure to do the block validation. What are the Requirements? If you want to involve in the block validation, here are some things worth understanding. First, you will require 32 ETH. This is a requirement for those willing to become complete validators.
You will also require several ETH to incorporate in the staking pool. Additionally, an individual has to activate the “ETH1.” It is also called the main-net client. From here, a launch program will take you through a tour for other requirements. Such as hardware and software requirements. Thank you for taking the time to learn more about Ethereum. For queries and inquiries, please use the comment box or reach us on our social platforms.
April 17, 2021
Comments Off on List of 5 Best Hardware Wallets for 2021
When it comes to digital coins mainly crypto, safety is the biggest concern. The main reason for this is hackers and fishing websites everywhere. Due to which people are now inclined to use hardware wallets and store their holdings. Hardware wallets are devices embedded with private keys. You can use this to keep their crypto assets.
These devices are safer than phone wallets as they are not directly synced with the internet. So, in this article, we make a list of hardware wallets. Below are the 5 best hardware wallets which you can use to store your holdings.
1. LEDGER NANO X
Developed by a Paris-based company called Ledger. Its production houses are present France. 
Whereas, the company operates through its offices in San Francisco. Ledger Nano X is probably the best hardware wallet available in the market as of now.
Whereas, the company operates through its offices in San Francisco. Ledger Nano X is probably the best hardware wallet available in the market as of now.Price- Currently, you will have to pay $119 for owning this wallet.
Features-
- The weight of this product is 34g, and the size is 72mm × 18.6mm × 11.75mm.
- The body of this device is stainless steel and plastic.
- It contains a 100 mAh battery.
- It supports Bluetooth connectivity. Therefore, this device is easily connected to your smartphone and pc without any wire.
- It supports multiple cryptocurrency storage.
- The package of this product comes with few accessories. It has 1 USB C cable, 3 recovery sheets, a keychain for this device, and Ledger stickers along with the device.
Coins Supported- Bitcoin, Bitcoin Cash, Binance Coin, Litecoin, Ethereum, Ripple, Monero, Neo.
2. TREZOR T
This is another high-end model from Trezor and is which offers much more features.
Price- $159, which is a bit high.
Features-
- All features are the same as Trezor’s one. Along with that, it also comes with a touchscreen instead of buttons. The device also supports more coins than the cheaper model.
- It package comes with a seal over the connector. The box also comes with one Type C USB cable. You also get a recovery seed card and stickers along with the device. It also comes with a magnetic dock.
Supported coins- It supports Cardano, Monero, Tezos, Ripple. Also, coins supported by Trezor One.
3. LEDGER NANO S
This
device is also from Ledger company and very popular in the hardware wallet industry.
device is also from Ledger company and very popular in the hardware wallet industry. Price- The price of this product is $59, which is pretty affordable.
Features-
- The size of this product is 39 × 13 × 4 mm, and the weight is only 5.9g.
- You get support for multiple software wallets.
- It supports 18 installable apps.
- The package comes with similar accessories. It comes with 1 micro-USB cable, one keychain along with keyring. You also get one lanyard. The box also comes with a recovery sheet.
Supported coins- This device supports 1184 coins in total. This includes Bitcoin, Litecoin, Monero, Ripple, Stellar, Dogecoin, Eos, Ethereum, etc.
4. KEEPKEY
Keepkey might be the last hardware wallet on our list, but it is nothing less than the others.
Price- The product costs around $99.
Features-
- This device comes with an OLED display and is aluminum-made.
- There’s a KeepKeey hardware wallet in the package. You also get a USB cable, and, Warranty card. It also has a recovery card which you can use to write down hints.
Supported coins- The wallet supports most of the ERC20 tokens. It supports major coins like Bitcoin, DASH, Litecoin, Ethereum, Dogecoin, etc.
5. TREZOR ONE
Another best pick for hardware wallets is the Trezor One. It offers many amazing features and benefits to users.
Price- It costs around $99.
Features-
The device is very sleek in design and looks great.
You can use this device with Mac OS x, Windows, and Linux.
Supported coins- The wallet supports 1064 coins in total. This list includes Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Tether, Stellar, etc.
April 9, 2021
Comments Off on How to stay away from cryptocurrency scams
Cryptocurrencies are becoming popular and therefore, are coming under the eyes of professional criminals. As they are launching new scams almost every day to de-fraud your holdings. How do you avoid getting framed or scammed? By using these tips, you can safeguard your holdings from such scams.
Bogus Platforms
Most scams that are out there happen through fake cryptocurrency platforms. They deliberately set up by scammers to steal your money. What the scammers generally do is impersonate a famous 
website. Then they manipulate the backend code to phish your credentials and steal your money.
website. Then they manipulate the backend code to phish your credentials and steal your money.To avoid this, watch for the “lock symbol” on the top left corner of your web browser’s search bar. Another thing to watch out for is the “HTTPS” keyword before the URL of the website.
They can even change the URL’s name by changing the “o” with “0”, making it very difficult to get spotted. One way to avoid this is to search for the website name on Google and opening it right from there. You can also check whether the website’s connection is secure or not.
Cheap Coins
Another common scam that people fall for in the crypto world is those cheap coins. Coins you can buy in bulk without spending much money in hopes of making a considerable profit.
Scammers see this and try their best to exploit this inclination towards cheap coins. The scammers make their fake altcoins and put them on the market at a very reasonable price to steal your money. A lot of people fall for its low prices and invest a lot of money into it. The money is utilized by the scammers who disappear with the fake coin and the money.
To avoid these scams, make sure to research before investing. Run a background check of the basics of the altcoin and its circulation and maximum supply.
Email Frauds
Another common way scammer frauds you are by sending lucrative emails. They make the email look as if it 
has come from a very legitimate cryptocurrency company. To steal your funds, they offer you fake initial coin offerings. Therefore, a background check through their details is a must. Run a review on the web. Validate the company. Do you notice any irregularity in the email?
has come from a very legitimate cryptocurrency company. To steal your funds, they offer you fake initial coin offerings. Therefore, a background check through their details is a must. Run a review on the web. Validate the company. Do you notice any irregularity in the email?A standard Google search can give you a lot of information about such frauds. Scan through everything you get before replying. Most of the legit companies never send you such emails in the first place.
Malware
Malware affects all branches of computer technology, and cryptocurrencies are no exception. There is much malware specifically designed to use with cryptocurrencies. Most investors aren’t much familiar with them and fall quickly.
To keep malware at bay, ensure that your system firewall and antivirus are always active. They can provide you with a decent amount of spyware protection.
April 3, 2021
Comments Off on Here’s All You Need to Know About NFT
Technology has now made us socio-friendly. We share lots of memes, infographics, artwork, and other digital property. Mostly with our friends and family. It can be either for entertainment or information. Also, it can be to spread awareness on a specific agenda.
However, did it come to your mind? Who’s the creator of these properties? Or where is the actual origin of those digital assets? The solution is NFT.
What is NFT?
An NFT or Non-fungible tokens is, in essence, a collectible digital property. The value is held as cryptocurrency. NFTs are value-conserving investments, similar to art, which is a visual form. But how?
So, NFT stands for a non-fungible token. This is a digital token that’s identical to cryptocurrency. 
It has similar properties to Bitcoin or Ethereum. But unlike Bitcoin, it is not exchangeable. An NFT is specific and is not exchangeable like-for-like (hence, non-fungible).
It has similar properties to Bitcoin or Ethereum. But unlike Bitcoin, it is not exchangeable. An NFT is specific and is not exchangeable like-for-like (hence, non-fungible).Why NFTs are so crucial?
NFTs have become highly popular with crypto customers and companies alike. The reason is that NFTs brought in a revolution to the gaming space. Around $174 million is now spent on NFTs from November 2017.
Thanks to the arrival of blockchain technology. Gamers are now perpetual proprietors. It can be an in-game item and different specific property and make money from them. Players create and monetize objects like casinos and subject parks in digital worlds. This includes things like a Sandbox and Decentraland. Also, there’s the possibility of selling items that are accrued through gameplay. It can be in the form of costumes, or in-game currency.
How Did NFT Suddenly Become so Popular
Several industries use NFTs based on ERC-721. Below are some excellent features that make NFTs popular:
- The entire data of NFT is secure in Blockchain. This means the tokens are not removable. No matter what, you cannot destroy or duplicate it.
- The primary source of cost for NFTs is their scarcity. However, NFT developers can make an endless number of tokens. They’re saved limited purposefully to keep their value.
- NFTs are indivisible. Therefore, unlike Bitcoins NFTs are not available in denominations.
NFTs Characteristics
1. Non-Interoperable
NFTs are considered non-interoperable due to their ERC 721 base. This means that the data saved in them 
are unexchangeable or utilized in any manner.
are unexchangeable or utilized in any manner.2. Rare
NFTs are scarce. Needless to say, this contributes to both the craze and price of NFTs. Therefore, if the quantity goes down from here due to any reason, the prices will shoot way higher.
3. Indestructible
People control NFTs through Blockchain, which provides them with more safety. This also makes them indestructible and un-removable at any cost.
4. Indivisible
You cannot send NFT partially to anyone (unlike different cryptocurrencies). It is because they’re non-fungible and don’t have a described value. For example, one bitcoin will own the same price after the transfer, but an NFT won’t.
March 27, 2021
Comments Off on Everything you should know about Litecoin
Bitcoin is undoubtedly the most prominent and widespread cryptocurrency currently. It is equivalent to gold. But, do you know which coin is the equivalent of Silver? It is Litecoin. As mentioned by the creator himself, Litecoin incubated to be silver to Bitcoin. It launched with a motive to improve the system of bitcoin. Litecoin soon became a widespread cryptocurrency throughout the world.
Although it is not in the top 5 crypto coins, it is evident that people know about this very well. The coin, which was around $4 in 2013, surged to around $370 in the 2017 bull run. The current price of LTC is about $180.
What is the role of Litecoin?
Litecoin came into existence in 2011 with a motive to improve the bitcoin network. It works on a peer-to-peer network made by Charles Lee. Litecoin was the first-ever alt-coin. It has a similar code to 
bitcoin with slight modifications. The coin made allows it to support large-scale acceptance.
bitcoin with slight modifications. The coin made allows it to support large-scale acceptance.It can also provide users with global payment solutions. These are of low-cost and low maintenance. Just like BTC, Litecoin is also decentralized as it runs on an open-source protocol. Released on MIT/X11 license, allowing users to copy, run, and even modify the software.
How is Litecoin Mined?
Much like any other crypto coin, mining Litecoin will also earn you special rewards. There’s a new block of Litecoin every 2.5 Minutes in the blockchain, which is faster than bitcoin. What’s more, the miners also get more rewards for mining. You will get 12.5 LTC for each block, which halves every 4 years, just like bitcoin, which will decrease in 2023.
Essential Things you should know about
More Supply:
Bitcoin’s limit is 21 Million coins. Likewise, Litecoin was also released with similar principles. Litecoin supply is exactly 4 times more than that of bitcoin. The main reason for this is that its development had a motive to improve and enhance bitcoin.
Faster Transactions:
Litecoin 
also confirms transactions at a must faster pace. Suppose you compare it to bitcoin. It takes around 10 minutes to transact, whereas Litecoin only takes 2.5 Minutes. That’s not because of its faster block generation. It can also handle more volume of the transaction at a given time.
also confirms transactions at a must faster pace. Suppose you compare it to bitcoin. It takes around 10 minutes to transact, whereas Litecoin only takes 2.5 Minutes. That’s not because of its faster block generation. It can also handle more volume of the transaction at a given time.Advanced Algorithm:
Litecoin uses an algorithm called the script hashing algorithm. This is different than that of bitcoin. This lets it generate more efficiency and faster generation capacity.
Daily Payment Solution:
The main motive of Litecoin was to be a lighter and more cost-friendly version of bitcoin. Using LTC for daily payments is very much possible. Because of its faster transactions and more capacity. Litecoin can also become a go-to payment solution shortly.
Trade Finance:
In case you don’t know, trade finance involves the processing of masses of paper volumes. And this work happened manually, which was expensive and very slow. But with the implementation of blockchain, you get the same result automatically. This is with the help of Litecoin as its financial medium.
March 19, 2021
Comments Off on What are the common issues of a Blockchain wallet?
The first blockchain technology came alongside bitcoin almost a decade ago. But if you look at its development, it’s practically unbelievable. Blockchain technology is arguably the best innovation of the 21st century. Most of the financial activities are slowly switching to blockchain-based databases. This is because they are secure and automated.
What are Blockchain Wallets?
A blockchain wallet is like a safe for storing your cryptocurrencies. Lately, there are many users 
using blockchain wallets. They use it for keeping their private bitcoins and other crypto assets. But, as the demand for these wallets increases, so do the problems that users face. However, there are multiple uses of a blockchain wallet. Many users face severe issues while using them.
using blockchain wallets. They use it for keeping their private bitcoins and other crypto assets. But, as the demand for these wallets increases, so do the problems that users face. However, there are multiple uses of a blockchain wallet. Many users face severe issues while using them.Common Issues faced by Blockchain Wallet Users
· Less Security:
Although some high-end encrypted wallets are the most secure ones. However, they are equally costly. Most of the users use generic wallets, which do not provide decent security. In case you are using a website to store your crypto assets. The complete website may get hacked. In that case, you are at risk of losing all your money.
· Fishing and Scam:
One of the most common issues faced by millions of users is fishing and stealing. Various people use phishing to lure you into their scams. They show fake promotions to get your details. They try to retrieve your login credentials. Then they can easily access your wallet. An excellent way to avoid this issue is by activating 2-factor authentication. Through which, every time someone logs-in to your account, they will need a 3rd random password.
· Only stores Crypto Coins:
Another significant issue people are facing is non-compatibility. Most of the wallets only support famous crypto coins like BTC and ETH. You won’t be able to store other assets. For example, you cannot store smart contracts in most wallets.
· Speculative and uncertain:
Many 
People use wallets to store their crypto assets that do not support buying or selling of coins. In that case, you are always prone to the volatility of the market. The chances are that the prices may drop suddenly. In that case, you will not be able to in-cash your holdings.
People use wallets to store their crypto assets that do not support buying or selling of coins. In that case, you are always prone to the volatility of the market. The chances are that the prices may drop suddenly. In that case, you will not be able to in-cash your holdings.· Issues with Passwords:
Recently a piece of news made headlines about one hardware wallet. A person with millions in holding forgot his wallet password. However, most of the wallets come with options to recover passwords. Some high-end hardware wallets do not support such options. Due to which it becomes a big problem for users to remember that exact password.
There are various problems faced by many users while using blockchain wallets. However, most of such issues have easy solutions as well. If you are thinking about using a blockchain wallet, you should give it a try. In case you face problems using it, you can always try a different service. There are thousands of blockchain wallet providers in the market.
March 13, 2021
Comments Off on How to write data to a blockchain
Blockchain is arguably the most futuristic technology which is growing very rapidly day-by-day. This technology developed alongside the creation of bitcoin, which is a decentralized currency. Although many people associate blockchain with bitcoin, both are of completely different characteristics.
Blockchain is a record-maintaining platform. It records all the transactions directed towards it. Whereas bitcoin is a cryptocurrency that has its value. Blockchain on the other hand is opensource and any developer can use it to build anything he wants to. Before diving into the topic of how blockchain maintains so many records. And how to write data on it. You have to understand the basic analogy of cryptography.
What is Cryptography?
The ‘Crypto’ from cryptography means ‘hidden secret’ in Greek. Whereas ‘Graphy’ means to study. Putting them together cryptography is a study of secure data transmission. It is very useful in cases 
when messages transmit without public knowledge. So, that people cannot read sensitive information. It works on certain pre-decided protocols that can decipher the messages.
when messages transmit without public knowledge. So, that people cannot read sensitive information. It works on certain pre-decided protocols that can decipher the messages.What is a Block-Chain?
It is important to understand Cryptography first before diving into the blockchain. In this technology, multiple blocks interlink with the help of cryptography. Where each block has its predecessor’s hash, data, and timestamp. Most companies use it as a ledger to maintain full-proof records. Because you cannot reverse the transaction once recorded on a Blockchain.
Hashing
It is the conversion of unified data into unique combinations. When you transact via blockchain and the verification of that transaction is complete. Then that data is treated using a hashing algorithm. Where the data converts into unique numbers and letters so that the system can add that detail to the block. Hashes are very peculiar in terms of blockchain because it only works one way. Although the combination of similar data will create the same hash every time. Reversal of hash is almost impossible. Because even a slight change in data will change the unique hash number.
How is data written to a blockchain?
Blockchain has a decentralized database. Due to which data never accommodates in a single place. Its distribution is to all the systems available in the network known as nodes. Were, each device or node stores 
blockchain data in the form of a copy. Let’s see an example to understand that:
blockchain data in the form of a copy. Let’s see an example to understand that:Taking 2 parties into consideration, one is Alex, & the other is Stella.
Let’s suppose Alex is sending a payment to Stella. For that, he will use his private key along with Stella’s blockchain address. When he transacts, there is an allocation made to a block. This block is then verified by multiple algorithms on the network.
Once the block validates, it is then added to the blockchain. After which Stella will receive her payment. Then data with details of this transaction will be present on that block forever.
Is storing data on a Blockchain costly?
The data which you can store on a blockchain is very limited. Most of the chains do not allow more than few kilobytes. Storing data across blockchain is also very expensive. Because you not only pay the base price of storing data, but there are also charges as per the size of data you store. The fees for Fast smart contracts are even higher.
March 6, 2021
Comments Off on Understanding the basic properties of Cryptocurrency
If you are an amid investor or someone who likes to follow the operations in the financial sector. You must have heard about Cryptocurrencies. Although most of our readers know what is 
cryptocurrency. They fail to understand the true property of a cryptocurrency. So, in this article, we will take you on an in-depth deep dive into the world of cryptocurrencies. Reading this article will make you understand the true nature of cryptocurrencies. This will also help you in understanding why most HODLers believe in them.
What is a Currency?
Before diving into the crypto part let’s first understand what does a currency means. Before the rise of currency, people used the barter system as the medium of exchange. But as humanity evolved so did the demands. This made it harder to transact via the barter system. and led to the currency.
The currency is just a state-promised medium of exchange. There are many uses of currency. But the basic use is to exchange it for anything with an equivalent value. Governments issue currency in the form of paper or coin. Which the nation has to accept at its face value.
What is Cryptocurrency?
A Cryptocurrency offers similar fulfillments which occur virtually. What’s more, there are no mediators or regulators of cryptocurrency who can manipulate it. You can use it to transact online. It works on the framework of blockchain. Blockchain is one of the most flourishing decentralized technology of this era. It is across the internet on various devices to record and manage operations.
Properties of Cryptocurrency
Below are some of the basic properties of a cryptocurrency:
It is in-tangible
Although most of the previous currencies were tangible. Cryptocurrencies are 100% virtual and there is no physical form for them.
Decentralized
A primary reason for this rapid growth in the crypto market is its decentralized nature. This is what intrigued people to look for a currency that is not in control of the government.
Various Alternatives
The most famous crypto coin of all time is bitcoin. But, we have 5000+ alternative coins in the market. These crypto agencies solve one or the other drawbacks of each other. Which makes each of them very unique and different from the other.
Future-oriented
As the value of money is going down, there has to be something that offers similar value in the future as well. With cryptocurrency’s decentralized nature it is impossible to manipulate. Therefore, it is the best.
Fulfills Basic requirement of Money
There are in total 7 requirements that you will find in money. Which are as follows:
- Essential value
- Durable nature
- Transferable
- Rare
- Stable store of value
- Divisible
- Homogeneous
All 
these qualities are present in cryptocurrencies.
Highly Volatile in Value
A big reason why most people are afraid to invest in the crypto market is its volatility. Cryptos are highly fluctuating assets as they are not governed by any entity.
Negative Uses
There are various rumors that people are using cryptocurrency for false usage. This includes trafficking, terrorism, dealing in the black market, etc.
This is also one of a few dark properties of the crypto world.