Before you dive to investing in cryptocurrency, it is wise to allot time in understanding it from a business and currency perspective. A very notable feature for any cryptocurrency is the fact that it is decentralized. To better understand the associated risks of cryptocurrency, we have to understand the platform’s features first or otherwise called Blockchain where crypto is based.
https://www.youtube.com/watch?v=ahWcUZfSufI
Such platform has a unique characteristic and these are:
Irreversible
Once the transaction has been confirmed, it can’t be reversed and there’s no safety net either.
Anonymity
Neither accounts nor the transactions are connected to the owner’s real-world identity.
Everything’s digitalized and it all can be access through the internet.
Global Speed
The transactions are almost instantaneous in the network and can be confirmed as well in a matter of minutes. Because they are taking place in global network, they’re indifferent of the person’s physical location. There are also no third parties that are involved in either the validation or verification.
Security
With sophisticated cryptography as well as the big numbers to be computed and decrypted, it almost becomes impossible to break the structure.
No Gatekeeper
Everybody can simply download the software for free. Once it’s installed, you can start receiving and sending cryptocurrencies like Bitcoins and Ethereum.