Cryptocurrency

Cryptocurrency is a type of digital currency, which means it does not exist in physical form like the normal paper currency. Crypto typically works under a decentralised control mechanism named blockchain, it's a publicly distributed record of transactions in digital form where each block contains information of transactions and is connected to the previous block thus forming a chain.

The reason why they are called “cryptocurrencies” is that they are created using a set of cryptography functions, including public-private keys, which secure the currency from third-party intervention and identification. This means that cryptocurrencies cannot be traced by authorities and their users can remain anonymous should they choose to be.

Decentralized: A major benefit of cryptocurrencies is that they are mainly decentralized, meaning that, financial activities with crypto are conducted without the involvement of an intermediary, like a bank, government, or other financial institution.

Avoid middlemen (Easy Transactions): Crypto transactions can be made easily, at low cost, and in a manner more private than most other transactions. Using a simple smartphone app, hardware wallet, or exchange wallet, anyone can send and receive a variety of cryptocurrencies. Some types of cryptocurrencies, including Bitcoin, Litecoin, and Ethereum, can be bought with cash at a Bitcoin ATM. A bank account isn’t always required to use crypto. Someone can buy bitcoin at an ATM using cash then send those coins to their phone. For people who lack access to the traditional financial system, this may be one of the biggest pros of cryptocurrency.

Self-governed and managed: Governance and maintenance of any currency is a major factor for its development. The cryptocurrency transactions are stored by developers/miners on their hardware, and they get the transaction fee as a reward for doing so. Since the miners are getting paid for it, they keep transaction records accurate and up-to-date, keeping the integrity of the cryptocurrency and the records decentralized.

Protection from inflation: Inflation has caused many currencies to get their value decline with time. Almost every cryptocurrency, at the time of its launch, is released with a fixed amount. The source code specifies the amount of any coin; like, there are only 21 million Bitcoins released in the world. So, as the demand increases, its value will increase which will keep up with the market and, in the long run, prevent inflation.

Secure & Private: Privacy and security have always been a major concern for cryptocurrencies. The blockchain ledger is based on different mathematical puzzles, which are hard to decode. This makes a cryptocurrency more secure than ordinary electronic transactions. Cryptocurrencies, for better security and privacy, use pseudonyms that are unconnected to any user, account or stored data that could be linked to a profile.

Currency exchange can be done easily: Cryptocurrency can be bought using many currencies like the US dollar, European euro, British pound, Indian rupee or Japanese yen. With the help of different cryptocurrency wallets and exchanges, one currency can be converted into the other by trading in cryptocurrency, across different wallets, and with minimal transaction fees.

Security softwares: Security software can improve your information security. Using your devices without security software, or using outdated solutions, leaves you exposed to a wide range of threats, including malicious hackers, spyware, viruses, and malware.

Multi-assets trading platforms: Multi-asset trading platforms are designed to meet the challenges of trading today. These platforms help you execute trades and build a strategy across the multi-asset offerings. It provides you with a unified vantage point for building and managing a diversified portfolio.