You might have been wondering “What is cryptocurrency?” and why so many people want to buy it. In this article, we will answer these questions and look at the benefits of crypto that you might not know about.
Chapter Overview
What is cryptocurrency?
Cryptocurrency is a type of digital money that functions independently of traditional financial systems and allows users to conduct secure and anonymous transactions. Wondering where can you buy cryptocurrency? Read on!
A remote database known as blockchain is used to store and conduct cryptocurrency transactions. Any blockchain consists of a chain of blocks with information about transactions.
Reason 1: profit
Cryptocurrency has a lot of potential because it is a relatively new concept that paves the way for endless future possibilities.
Reason 2: diversification
Long-term investments are impossible without diversification. If you already have an investment portfolio consisting of traditional assets, cryptocurrency can be perfect for diversifying your investments.
Reason 3: transparency
The transparency of cryptocurrency protects both parties of the transaction. Such transactions are encrypted in blockchain and cannot be changed. This is one of the major reasons why you should buy cryptocurrency.
Reason 4: anonymity
There is no need to enter your personal information when using crypto. So, when needed, one can be completely anonymous. Centralized exchanges, however, do require verification.
Reason 5: lower fees
Unlike with banks, there are no intermediaries in crypto transactions. This means that the fees are minimal.
Where to buy crypto?
There are a lot of ways to do it, but the best way to buy crypto is to it on centralized cryptocurrency exchanges. WhiteBIT, the largest cryptocurrency exchange in Europe, is a great example of such a platform. Now you know the answer to the question “Why should I buy crypto?”. Remember, you still need to do a research before investing in cryptocurrency.