What do you know about Crypto Currencies? – Roscommonarts

What do you know about Crypto Currencies?

Crypto currency is digital gold that is accepted worldwide as a standard currency. It is an encrypted decentralized currency that is built by Crytpgraphy technology and runs under the process of Crypto mining. This currency is transferred and exchanged between the peers by central banking systems which include blockchain technology that is not regulated by any people nor issued by centralized banks. This electronic money is volatile and has no significant reception. Not all websites accept this digital currency for online shopping and other related transactions. Only few countries has approval to accept such currency and recently few developing countries and political restriction like Russia and China are legalizing and regulating this form of currency in their countries for the benefit of their residents and increase their economy. There are more than 1600 kripto para birimleri available online to perform investments and transactions. Bitcoin being on top is very large and growing with outstanding rate, the others listed in blockchain technology are Bitcoin Cash, BAT, Dogecoin, Ethereum, Litecoin, Monroe, NEO, Ripple and Stellar in order of capitalization.

Crytpgraphy technology

Disadvantages of Crypto Currencies:

There are few disadvantages regarding this digital currency like in any other financial sectors:

  1. Any business through Crypto Currencies may gain profit or loss. As it is not stable all the time it is difficult to understand for the new comers which digital currency is profitable for them to invest and without prior knowledge about it they might lose their real money in hands of hackers.
  2. Before investing your money in Crypto currencies please check which countries and websites are legalized to accept this currency for buying, selling and any other online/offline transactions. There are few websites and countries which doesn’t accept this kind of electronic payments for any commerce and international bank transfers. This currency becomes impractical for everyday utilization in the market.
  3. There is no scope of refund if you have paid someone mistakenly using this Crypto Currency. You will lose your entire transferred amount unless your request to refund is turned down by that person.

Conclusion:

So it is known fact that kripto para birimleri is volatile and not accepted by certain websites and countries, always check list the country which is legalized to accept this digital currency to be on safe side and not lose your invested money for any type of transactions like money transfer or exchanging your currency.