Cryptocurrency

A cryptocurrency is any digital asset that exist digitally or virtually and has no physical form
It is a digital payment system that does not rely on banks to verify any transactions. It is a peer – to –peer system that only allows the person sending and receiving the money to see the transaction details
Most cryptocurrencies use a technology know as blockchain, a system that makes it extremely difficult to; hack, duplicate, forge etc cryptocurrencies
Cryptos are not issued by any authority, this means that they are immune to government interference and so it is not a legal tender in most countries
There are many different cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, etc
Cryptocurrencies are stored in something called a digital wallet, it is an electronic device that secures a user’s payment information, and money

Has the potential of earning extremely high profits if its price increases
Helps you grow your wealth quicker and significantly if its price increases
Cryptocurrency is one of the most riskiest assets; you have no idea if its price will increase or decrease
There is no central authority to regulate the price according to the people’s opinion
In a way, cryptocurrency is more like gambling and relying on luck on whether it will go up or down

Huge Profits: cryptocurrency has the potential of earning you high profits if its price increase
No Tax: since crypto – currency is unregulated by any central authority, there are not tax regulations in place; so any profit you make does not go into paying tax
Buying and Selling: it is easy and efficient to buy and sell cryptocurrency, regardless of the amount or destination; it can also be sold in portions too. This very useful during an emergency situation

Risk: it is a high – risk asset, and you have a potential of making huge losses. Since it is also digital, corruption of your digital wallet, or device can make your coins unrecoverable and gone forever
Fraud: hacking into digital wallets is very common, and also its blockchain technology can make them very difficult to catch them

You should select a good crypto exchange platform; one that cannot get hacked or suddenly vanish
Decide which cryptocurrency to invest in; depending on its popularity, price, etc
Always monitor the prices of cryptocurrency on a daily basis; as its prices can change in minutes
Always sell a small portion of cryptocurrency if its price has increases
Ensure that you store your cryptocurrency in a good digital wallet: one that cannot be hacked