Many people are interested in investing in cryptocurrency because it is considered to be able to provide large profits for investors. To get a cryptocurrency like bitcoin, we can buy it with some money or do mining (mining). In addition to large profits, investing in cryptocurrency is considered safer because this currency is secured with a cryptographic system so that it cannot be faked and is not easily hacked. You can choose a minority-owned investment education company in investing your money. However, before we decide to invest in cryptographic or digital currencies, it is better if we know the advantages and disadvantages.
The first advantage of cryptocurrency is about speed and also convenience. Cryptographic currencies are deliberately created as a solution to the complexity of conventional financial and banking transactions. By using cryptocurrency, we can make transactions more quickly and practically for example to make transfers to foreign accounts, we usually have to do these transactions on working days and hours. As for transactions using cryptocurrency, we can do it anytime without having to wait hours and workdays. The second advantage that makes investors interested in cryptographic or digital currencies is security. Security becomes very important considering that lately there is a lot of hacking and data theft. Parties such as banks that we trust to guarantee the confidentiality of their customers’ data can divulge that data to other parties. For this reason, some people prefer to hide their identities when making transactions. We can do financial transactions without having to display our real identity with a cryptocurrency like bitcoin.
Of all these advantages, you also need to know the shortcomings. One of them is high volatility. This cryptocurrency is a new currency that has not been long known by the world community. Therefore the volatility of this type of currency is still very high. The value of a currency can suddenly experience a drastic increase.