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With the advancements in technology, it is a new day every day and people get to explore so many new things every step of the way. It is not just the simple things that technology has made an impact on, even the not-so-normal things have been impacted by it. One such thing that has been making a buzz around the market about the modernization of it is currency. In the latest trends, cryptocurrency is the kind of currency that has been making the headlines for its increased usage and value. A simple tweet from Elon Musk, the founder of SpaceX skyrocketed the values of Bitcoin and another simple tweet crashed their values down. But before we move ahead let’s understand, what does cryptocurrency means?

History of Cryptocurrency

It was in the year 1983 that an American cryptographer named ‘David Chaum’ first invented the electronic money called ‘ecash’. Over the years, technology grew and development going on. In 2009, the first-ever decentralized cryptocurrency was developed by ‘Satoshi Nakamoto and was called Bitcoin. It works on the technology called blockchain and ever since then so many other cryptocurrencies have been launched in the market. 

Since it’s quite a trending topic, there are certain expectations that people have from cryptocurrencies – safe transactions, more profit, etc. but the realities might be different from it sometimes. Let’s talk about some of the expectations we might have from cryptocurrency and the realities it actually shares.

EXPECTATION: IMMENSE PROFITS

A lot of people believe that trading through cryptocurrency would be very profitable and actually help them by increasing their profit shares. Seeing other people’s posts or listening to news about the same, all has got us to believe that cryptocurrency is actually the best place to invest in when it comes to profits.

REALITY: HUGE PROFITS, HUGE RISKS

Well, it’s not all sunshine and rainbows because it’s only when we make huge investments, that we are entitled to huge returns. But with such big investments comes the big risk of losing everything because the market depends on various factors and it’s not all in our hands. 

EXPECTATION: BITCOIN IS THE ONLY ONE

Awareness is a virtue and without being fully aware, you can’t actually think of succeeding in the job. The same goes for cryptocurrency. People hardly know about all the options they have or which one will suit them best. The only one most people are certain of is ‘Bitcoin’ and a lot of people think of Bitcoin as the only cryptocurrency.

REALITY: LOTS OF OPTIONS

While Bitcoin may be quite famous and a lot of people know about it but it’s not the only one if is trying to make an investment in cryptocurrencies. Some other very interesting and quite famous ones are Ethereum, Litecoin, Cardona, etc. 

EXPECTATION: LACKS ACCESSIBILITY

Back in the day, like a couple of years ago, it was extremely difficult to have access to cryptocurrency. The payments were not secured, it involved a third party to actually make a transaction consisting of bitcoins, and then to nobody could be assured that they will surely get the coins. But a lot has changed over the years as technology has changed and grown over time.

REALITY: HIGHLY ACCESSIBLE

Though people think that transactions related to cryptocurrency are extremely difficult and are not easy to go through, that’s not entirely true. While some basic risks might be there but the technology has grown over time and it is now extremely easy to access the cryptocurrency. There are so many applications these days that make it even easier to make investments in cryptocurrencies.

Cryptocurrency has a great market and is only going to increase over time but we have to be careful because with huge transactions comes huge risks as well. So, the profits might be over-the-top but the same goes for losses so all you have to remember is to be careful.


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