Crypto currencies have been here for a while now but will they be ruling over our current currencies in future? Will they be the future step in digital technology? Well lets talk about it. Today we will be telling you to what extent can the crypto-currencies progress. Should you invest in them? What’s their pro’s and con’s. And the major question “are they the future?”
What are crypto-currencies?
A crypto-currency is a digital/virtual asset. They were designed to work as a medium of exchange (i.e intermediary used in trade to avoid the inconveniences of a pure barter system) to secure several transactions. They can be earned in several ways and most probably be bought at there respective prices/rates.
A very major and well known crypto-currency is Bitcoin which is probably the first crypto-currency and is worth $8.2k and it rate changes daily!
See Also: Bitcoin hits $8.2K – And the Reigning Continues
To what extent can they progress? (Pros and Cons)
Crypto-currencies over the years have been progressing. Bitcoin started in 2009 and at that point it didn’t had any worth so it was only 0$. It is so today that it’s price has reached somewhere where majority of the people can’t afford.
Here’s the Bitcoin’s price chart from 2009 till to date.
However it is said that nobody can guarantee whether it’s price would only increase. It is only virtual and it will be only a matter of seconds of it’s ending. This is one of the reasons that there are high chances the Crypto-currencies could fail anytime.
A important thing must be kept into notice while doing transactions with them is that they are not secure. I don’t mean like they are completely un-secure but as compared to normal transactions they have a higher chance of a hacker that most probably you can be hacked and your money could be lost.
Are they the future?
Overall with the above talks i conclude that the Crypto-currencies can’t be our future. You see something that is virtual and not safe with almost no law inside it can be only successful for illegal transactions. However, investing in them can sometimes be a good source of passive income. The mining for several Crypto-currencies like Bitcoin, Etherium could bring some decent amount of money with just your computer system GPU being used.