A brief about the merits and demerits of cryptocurrency.
A cryptocurrency is a virtual currency that one can send from one user to another over the internet. It is designed to store all the records regarding payments over the internet. The purpose to make cryptocurrency is that cryptocurrency should be free from any government, or bank organization. The term “cryptocurrency in itself is derived from the encryption techniques used to secure the network.
As time changes the market of crypto is growing too fast. Small countries like Vietnam and Nigeria are leading in the highest transactions of crypto by a county in a year.
What if the Crypto overtakes the cash system? If cash is changed by crypto it will change our life completely because all the currency is now changed into crypto which means we have to make payments over the internet. Many international companies like Tesla and Amazon are started accepting crypto payments in the form of cryptocurrency which is a very courageous move to do.
If you also want to start accepting the crypto payments then you can use Ipint a crypto payment gateway app that will help you with all your quarries and give you the best possible advice regarding your investment.
Ipint is a Crypto payment gateway that was developed by two IT employees in the year 2018. Our company aims to provide a platform where small businesses can grow faster by changing their cryptocurrency transactions into their local currency without any kind of external charges.
Types of Cryptocurrency
The first and most known cryptocurrency is Bitcoin, which is remaining the most used, and popular among them. Although Dogecoin, Ethereum, and US coin are also popular. Bitcoin is a popular currency and was launched in 2009 by an anonymous identity. A total of 18.6 million Bitcoins are in circulation with a total market cap of around $927 billion this data is till martch2021.
After the success of Bitcoin, there are numerous currencies created also known as altcoins. Some of the well-known altcoins are given below:
1. Litecoin
2. Peercoin
3. Dogecoin
4. Ethereum
5. Cardana
Today the total cryptocurrency price around the world is $1.5 trillion and more than 60% of this is from Bitcoin.
Merits of cryptocurrency
Crypto transfer between two people will be easy without the need of a third party like a bank or international charges.
It is a cheaper and faster way to use other than international transfers through banks.
Modern cryptocurrency systems like ipint are a safe and convenient option to use as all these things contain pins, which makes them safer. And by using ipint you can change your cryptocurrency into your local currency by following the respective process which I already mentioned in these articles before.
One can easily use the USDT payment gateway through ipint.
Funds transfers are completed easily and fast and everyone can see the transactions as it is open software.
Demerits of cryptocurrency
Although there are numerous advantages of using cryptocurrency but yet there are some disadvantages also, as everything can’t be perfect.
The cryptocurrency is not managed by any government or organization which means if any fraud will take place you can’t have any authority to the lookout.
Payments are not replaceable.
Cryptocurrencies are not accepted everywhere and their value is the same in every place.
There are so many studies that prove that it takes more money or energy to make a single unit of Bitcoin this can be the main reason for its prices hike.
These are some disadvantages of using cryptocurrency although they are nothing if we see the advantages of it. Yes, it is risky but you have to take some risks if you want to be different from all. It’s time to invest in crypto and be different.