Cryptocurrency and its Pros and Cons
Cryptocurrency:
Cryptocurrency is a virtual currency secure by using cryptography. It uses advanced technologies like hashing algorithms to keep secure so it has zero percent chance to make duplicate and double spend.
Blockchain technology is a digital ledger like virtual notebook records about users crypto transaction details. Cryptocurrency exists in blockchain technology.
Groups of ledger linked together in blocks, each and every block connected together. These blocks are verified by an authorised person in a computer network.
How to Buy Cryptocurrency?
If you want to buy products and goods in store by using cryptocurrency, first you want to buy cryptocurrencies in the local or global cryptocurrency exchange platform.
Visit any of the popular and global cryptocurrency exchange websites like Binance, Koinpark, coinbase, etc.
Then after selecting your comfortable exchange, just sign up and create an account.
In every exchange they provide customer support from start to end in the cryptocurrency purchasing process. They can guide through blogs, articles, emails, and phone calls.
So after signup you can proceed with given instructions in exchange like submitting identity proofs. Emails, kyc verifications, etc.
Finally you have to buy a wallet in the exchange and you can buy cryptocurrency and save it in the wallet.
Pros and cons:
Cryptocurrency was invented to become a revolution in the financial industry. Even though it has some pros and cons.
Pros:
Easy to transfer currencies between users.
There is no third parties
We can generate returns
Cons:
Expensive to interact with exchanges and earn
Price are volatile
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