Cryptocurrency and its Concept
Cryptocurrency is digitally virtual mode of currency that implements cryptography as security. Counterfeiting cryptocurrency is quite difficult due to such security. It is alluringly endearing and given its organic natural presence, no central authority issues it. Neither do they render it theoretically for any sort of interference or even manipulation by the government. It was with the emergence of Bit coin in 2009 that the wholesome concept and perspective about the same came into being as well as in vogue. Today, there are numerous cryptocurrency platforms that operate successfully across the globe, such as: Litecoin, Zcash, PPCoin, Name coin, etc.
Features of Cryptocurrency
The various noticeable features of the revolutionary concept of cryptocurrency are as follows:
- Financial transactions between two parties, one selling and the other buying any product becomes very conveniently lucid due to cryptocurrency. With the help of both private as well as public keys these transactions are facilitated with minimal fees for processing. Again, they do not charge steep fees like most financial institutions like banks for the purpose of wire transfers.
- Cryptocurrency is a modern representation of the age old story of the eminent Chinese emperor, Qin shi Huang who had all forms of currency coins abolished only to introduce a new one in the market and of course, in the society. This was done to bring about an economic uniformity in the society. Similarly, cryptocurrency bars all sorts of disparity that may be borne out among individuals belonging to different nations while bartering. Thus, cryptocurrency has the power to distribute the virtually printed money without any authoritative central power for supervision. It evolves as a singular powerful economic trend setter.
- Being a very prospective and dynamic economic system, if the entire structure of cryptocurrency indeed work out in its favour then it would loom large as a major economic tycoon throughout the world.
- As any central authoritative power does not intervene in between payments or transactions of cryptocurrency, an individual not only has the power to generate and distribute his money but also has the sole authority over the money he earns.
To conclude, it may be said that cryptocurrency is after all virtual money that in no way is connected to the government or bank; it helps individuals without bank accounts to have and maintain their money but storing and transferring the same. It is not much subjected to inflation and thus, it is far cheaper as it is fast.
Cryptocurrency trading and Its Features
Cryptocurrency trading means the “foreign exchange” of cryptocurrency that enables you to trade altcoins as well as bitcoin for both BTC and USD. Without investing you digital cryptocurrency in bitcoin clouds or in the mining of the same, cryptocurrency trading alternatively lets you get involved in the sphere of cryptocurrency. Unlike the risk that involves in the integrity of the cloud mining of bitcoin, cryptocurrency trading does not execute the same.
Attributes of Cryptocurrency Trading
The various features involving cryptocurrency trading are as described below in the following bullets:
- Cryptocurrency trading provides you with certain lucrative options that are otherwise not granted by the conventional mediums of foreign exchange. For instance, bitcoin trading takes as less as a few minutes unlike the complicated means of foreign exchange and it also enables you to leave any instant you feel like. All you need to do is transfer you cryptocurrency out of the wallet for exchange and you become free.
- It offers “low spread” in comparison to foreign exchange or Forex and i.e. the difference between the price that has been asked for and the one that is bid remains almost the same and thus, no loss or nearly no loss is incurred by both the buyers as well as the sellers. If you happen to make a loss, it would be so negligible that it would not bother you at all.
- The concept of “margin trading” applies for cryptocurrency trading just like it does in the case of Forex. Margin trading allows you to borrow the power of that of a buyer or of a seller and thus, if you predict quite close to what the result of a bid is established, you would reward yourself with earnings. However, this procedure demands some allocation of funds for security purposes.
- Owing to the multifarious dynamisms of cryptocurrency trading, you need not worry about trading limits that is not at your disposal. This is when “leverage trading” comes to use which provides you with the leverage of the ratio 1:10, i.e. if you are investing 1 unit of currency it gives you the leverage of 10 unitary values.
Cryptocurrency trading is dynamic, secure and amiable for those who want to explore on the platforms of online trading, but with assurance of security. You would be bonded with simplicity of the procedure and the trust that the different cryptocurrency firms offer you with.