Cryptocurrencies PROs and CONs

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Finance and Investing > Forum > Cryptocurrencies PROs and CONs

🔥NEW Cryptocurrencies PROs and CONs
Mounia, Analyst, Morocco, Premium Member

A cryptocurrency is an electronic means of payment and payment system that uses a peer-to-peer network which is fully decentralized and has no server or central authority. Characteristics of cryptocurrencies are:
  • DECENTRALIZED: In traditional forms of currencies, central authorities and banks have control over the financial system while virtual currencies have no central authority.
  • IMMUTABLE: Transaction records are accessible to the public and it's extremely difficult to change them.
  • SCARCITY: Cryptocurrencies have a maximum supply which make them deflationary.
  • ANONYMOUS: Cryptocurrencies have a decentralized network of users that create anonymous digital identities that they use to make transactions and authenticate them.
The first version of cryptocurrencies and the most prominent one is the Bitcoin which first appeared in 2009. The absence of a centralized third party and the anonymity that characterizes virtual curren (...) Read more? Sign up for free
 

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