As a beginner, you may have heard the word cryptocurrency. Actually, cryptocurrency and bitcoin mining is currently becoming a trend among investors. Then, what is cryptocurrency? Cryptocurrency can be interpreted as a digital asset that has functioned as a medium of exchange that uses cryptography to secure transactions. Cryptography also used to control the creation of additional units and to verify the asset transfers. The cryptocurrency classified as a subset of digital currencies, as a subset of alternative currencies, and virtual currencies. After knowing what is cryptocurrency, investors flocked to start investing in cryptocurrencies such as bitcoin mining on multiple mining platforms.
Some reasons why cryptocurrency is in great demand by investors:
- Cryptocurrency is a currency whose value is determined by supply and demand. Price movements fluctuate as well as stocks and forex. However, the one that makes the cryptocurrency safer and the two is that in cryptocurrency there is no such thing as a bankrupt stock that is largely determined by the growth of the company. Otherwise, there is no margin call in cryptocurrency. This is because while we do not sell it at lower prices then the amount of our coin will remain the same and just waiting for the high price.
- An investor who knows what is cryptocurrency must know that cryptocurrency is global and no cryptocurrency is used in just one country. Cryptocurrency is definitely used in almost every country in the world. Because in essence cryptocurrency is a means of payment across countries. It can expand the currency market itself to encourage a growth in value supported by increasing demand.
- Cryptocurrency is not a flat income that offers the same amount of profit every month. Because the fluctuating value is determined by the increase and decrease in the number of demand and supply in the market. Many rich people in the world created this business. They buy cheaply and sell it for expensively.
- If you want to do business with cryptocurrency there are two factors that make cryptocurrency potentially have a price increase. The first factor is system marketing and the second factor is market demand. If cryptocurrency has one or both of these factors then it means you must have a cryptocurrency savings.
- Since 2009, there have been hundreds of cryptocurrencies running and none of them have been scam until now. Because cryptocurrency is just like a commodity as gold.