Crypto Currency – The most luring investment alternative
In the digital era people are more imaginative and innovative and always look for new avenues of investments. Cryptocurrency is emerging as one of the fast growing investment trends in the world. First of all, it is important to know about it from the perspective of a fresher in the field. One pertinent question that comes to mind is what term cryptocurrency and altcoins means in real sense. Broadly speaking, it can be termed as virtual or digital money that takes the form of coins or tokens. The “Crypto” is derived from the world cryptography that enables creation of digital currencies and their transactions across the digital platforms. Cryptocurrencies are developed by software engineersas code and there is set mechanism for their issuance.
Most surprisingly, cryptocurrencies are designed in such a manner that they are not under the manipulation and control of the respective governments of the lands. As more and more people are inclined to invest in it, the very foundation formula that government has no control over this system raise many eyebrows over its authenticity.
Bitcoin (BTC), the original crypto currency was developed in 2009 under the fictitious name Santoshi Nakamoto. It appreciated at an astronomical rate and became a household name across the world. Bitcoin was available at the price of $500 a piece in May 2016 and its value appreciated to $44,000 a coin in March 2022. Besides being a trendsetter, BTC started an era ofcompetitive altcoins.
Crkyptocurrencies coming after Bitcoin are termed as altcoins and sometimes as shitcoins. These later created digital products present themselves as better alternative to original Bitcoin by way of providing some of impressive features which original version does not have. Some of the key competitors of Bitcoins are Ethereum (ETH), Tether (USTD), USD Coin (USDC), Binance Coin (BNB), Binance USD (BUSD), XRP, Cardano (ADA), Solona (SOL), Dogecoin (DOGE) and Polkadot.
Another question that comes to mind is why such complicated way of transferring money are order of the day. Blockchain- based cryptocurrencies offer decentralized platform to facilitate peer to peer financial transactions or establish contracts. It eradicates the role of intermediary like banks, monetary authorities and tribunals. This digital system has witnessed exponential growth in the last few years as innovative developers are creating new altcoins that have better features than the earlier ones. Beyond doubt this mode of investment is most luring but at the same time is also quite risky and speculative. Investors with high risk appetite and also financially sound to face the uncertain outcomes,may take a plunge!
