Do you know that Crypto buyers are increasing at an alarming rate since the world-wide lock down after Covid-19 outbreak? According to a report by Apptopia, the top ten crypto wallet application have reported an all time high demand in terms of daily active users and new signups last month for crypto transactions.
If you are one of them, you may have noticed huge waiting days for your account verification due to increasing demand. Why is this happening and would this impact cryptocurrency in late future? If yes then how?
As you know that the Global Economy is rapidly moving towards a Digital Economy and the use of paper currency all over the world is slowly declining, cryptocurrency on the other hand is gaining popularity at an exponential rate.
What is Cryptocurrency?
In case you don’t know what cryptocurrency exactly is, read this:
As defined by Investopedia.com as a decentralized “digital or virtual currency that uses cryptography for security” making it difficult to counterfeit. Since it is not issued by a central authority, governments can’t take it away from you.
Some Reasons to Buy Cryptocurrency
Are you ready to join the future of the Digital economy?
- Long and Short Term Benefit: Due to a large amount of Price Fluctuation in the crypto market,educated investment can prove to be a very high yield profit experience. People can earn significant returns in a short time and exponential returns in long term
- No Fraud: As crypto currencies are Decentralized and no one controls or regulates them, all transaction are fully encrypted and there is no intermediate authority making it impossible for fraud related activities.
3. You are the Owner: As mentioned above that Cryptocurrency is Decentralized, there is no one in between your money making it rightfully YOURS!
4. Identity Theft: As all the transactions are encrypted thanks to the all new Blockchain Technology, the identity of Buyer and Seller are encrypted. Simply meaning- “Not Known”.
5. Huge amount of options easily accessible: Bitcoin is what majority of people think when they hear the term “Cryptocurrency”. But let me make it very clear that cryptocurrencies are huge in number and many young cryptocurrencies are coming up everyday. The advantage of this is their instability. No wonder there is a possibility that you may loose every single penny that you invest in crypto, however, this possibility is very very less. What I’m trying to explain is that nature of Crypto at this moment is to grow. As Cryptocurrencies are young today, they tend to grow which makes them irresistible to buy.