Cryptocurrency Explained: Key Benefits and Hidden Pitfalls for Investors

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In this digital era, maximum, whether high or low, but little internet surfers can think about the future of our digital world.

Because of our first lifestyle, we have to change our work strategies. Besides changing our lifestyle some unethical activities are also increasing in our society like fraudulence, data manipulation, illegal transactions, etc.

Today I will tell you Key Benefits and Hidden Pitfalls for Investors in real life. To avoid the imbalance we should know and keep updating ourselves on such points;

1. Because of the decentralisation network system, it is nearly impossible to break the chain.
2. Cryptography is such a method that it encrypts a message using an algorithm and sends it with a key to decode it. Only the sender and receiver only know the key without any middle one.
3. Without any hassle of a manual account, you can handle your crypto account with only an internet connection.
4. There is no hard cash transaction risk to dealing with others, every correspondence will be recorded in every Wallet using a hard blockchain system.
5. These transactions are faster than any other transactions worldwide without any cross-border.
6. Cryptocurrency transaction fees are comparatively less than general banking transactions.
7. This currency converts your property ‘physical and digital’ to a token. This token will make your real-world asset easier to access without fractional ownership.

1. This currency transaction is always one way. This means that after pressing the transaction ‘Ok’ button, you won’t have any chance to reverse the transaction.
2. Without physical authority, customer protection is riskable. Unfortunately, if you face any problem like fraud or manipulation the user's resources are limited.
3. Prices of cryptocurrency are highly Volatile, within a very short time its price can fluctuate unimaginably. Cause that this investment is riskable.
4. We know the blockchain system is safer than other finance correspondence. Using this fact, cross-border transactions will encourage more illegal activities.
5. Much more mining will always harm our environment because of high energy consumption such as electricity, radiation, etc.
6. Minor but also important, understanding this whole cryptocurrency software system is a little hazardous for beginners.
7. These kinds of transactions always diminution government revenue like Tax evasion, remittance transaction fees, etc.