Why should you trade in Cryptocurrency?

The modern concept of cryptocurrency has become very popular among traders. A revolutionary concept introduced to the world by Satoshi Nakamoto as a side product has become a success. Decoding Cryptocurrency understands that crypto is something hidden and currency is a medium of exchange. It is a form of currency used in the block chain created and stored. This is done through cryptography techniques to control the creation and verification of the transaction currency. Bit coin was the first cryptocurrency that came into existence.

Cryptocurrency is only part of the process of a virtual database in the virtual world. The identity of the real person here cannot be determined. Also, there is no centralized authority that governs cryptocurrency trading. This currency is equivalent to hard gold kept by people and the value of which is supposed to be increased by leaps and bounds. The electronic system established by Satoshi is a decentralized one where only miners have the right to make changes by confirming the transactions initiated. They are the only providers of human touch in the system.

Counterfeiting the crypto currency is not possible as the whole system is based on hard core mathematical and cryptographic puzzles. Only those who are able to solve these puzzles can make changes to the database which is almost impossible. The transaction once confirmed becomes part of the database or block chain which cannot be reversed then.

Cryptocurrency is nothing but digital money that is created with the help of coding techniques. It is based on the peer-to-peer control system. We now understand how you can benefit from trading in this market.

It cannot be reversed or falsified: Although many people may argue that the transactions are irreversible, but the best thing about cryptocurrencies is that once the transaction is confirmed. A new block is added to the block chain and then the transaction cannot be forged. Become the owner of that block.

Online transactions: This is not only convenient for anyone who is anywhere in the world to transact, but also facilitates the speed with which the transaction is processed. Compared to real time where you need third parties to enter the picture to buy a house or gold or take a loan, you only need a computer and a potential buyer or seller in the case of cryptocurrency. This concept is easy, fast and full of ROI prospects.

The fee is low per transaction: There is a low or no fee taken by miners during transactions as this is taken care of by the network.

Accessibility: The concept is so practical that anyone with access to smartphones and laptops can access the cryptocurrency market and trade anytime anywhere. This accessibility makes it even more lucrative. Since the ROI is commendable, many countries like Kenya have introduced the M-Pesa system which allows a bit currency device which now allows 1 in every three Kenyans to have a bit currency wallet with them.