Pros and Cons of Spending in Cryptocurrency

17/11/2017 Financial & Legal Services

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Description

Investments and their returns are subject to market conditions and one should always take care while investing in shares, Mutual funds and other options. Is this applicable to Cryptocurrency as well?

New Age Currencies

The new era currencies which are in prime demand –the Cryptocurrency, have become the favourite investment option of the decade. But there are few who are investing in cryptocurrencies without understanding the details, they are not fully aware in terms of the correct function and the best currency to invest in. Without the proper know how of the currencies in terms of their advantages and limitations it is not advisable to invest in just any. Before doing so you must learn the pros and cons of cryptocurrencies which are as under:

Advantages-

1. The Growth Factor

You can build huge capital from your investment as they grow very fast, sometimes to the level of 300% n a short period of time, just like GDC Coins which have grown from mere 0.01$ to 3.86$, that means 386 times, within a span of seven months. The tremendous grow factor is mind blowing.

2. Consistent Growth

The fact that the occasional drop in cryptocurrencies, in terms of their rates, hard effect the investor as people investing in them do not stop an whatever drop happens is all taken care by the next jump and the outgrows all the setbacks.

3. No Effect Of Ecosystem

The ups and downs of political and financial instability hardly affect the growth of Cryptocurrency and remain untouched, hence investing in best cryptocurrencies, like GDC Coin, will always give good dividends.

4. No Restrictions

The rules and regulations of any Government or regulatory bodies do not apply on Cryptocurrency, hence the investor need not answer or worry of getting questioned, in terms of the investment sources, investment quantum and can with free mind invest and multiply his investment. They need not pay any transaction fee or are limited to operate limited transactions. All these are not required in GDC Coin and are decentralized and pseudo-anonymous.

5. Trust of People

The trust and faith of people, which is building strength in favour, over the years, has given GDC Coins further strength and hence investing in such cryptocurrencies is always fruitful.

6. Transparency

As the structure of the currency is such that every single transaction is recorded and monitored. They can be traced back to their origin and cannot be broken. They can be altered and can be verified by anyone and everyone. Such level of high transparency is not available with any fiat currencies.

7. Safe Easy Transportation

You need not carry them in boxes or show it to anyone, you can always carry billions of dollars in GDC Coin in simple memory drive and travel easily without anyone knowing about it. You need to worry in terms of them being stolen or robbed.

8. Strong Control Over Money

Since you can trace, monitor, every transaction you are in strong position to handle money your way. Also, your identities are always hidden and cannot be traced by any means.

9. Untraceable

Since the transactions only can be traced and you cannot locate the user it is safe for you to remain undercover without getting in the notice of any organisation or body monitoring you and your funds.

10. Get Richer Faster

Investing in cryptocurrencies like GDC Coin or Bitcoin, today, are the best options as they not only give to high growth, consistent growth, but also they are safe, transparent, unaltered by any inflation rate, cannot be robbed, and do not come under any regulations and under any limitations. They keep of growing on the graph and even the dips do not affect their overall position.

Limitations-

1. Acceptance

The basic understand amongst common man about the cryptocurrencies is still bleak and that makes the acceptance difficult. People avoid or do not indulge in transactions with cryptocurrencies. Even companies do not accept Cryptocurrency transactions as a mode of payment. As a result, people who want to use them are restricted. There is mistrust and doing business with cryptocurrencies is very rare.

2. Once Lost, Lost Forever

Cryptocurrency is encrypted and can be stored on a drive, that is not connected to the internet, which identifies the currency and not the owner. That obviously means safety, but that also implies that if lost they cannot be returned to the original owner, or even traced. The transactions once done cannot be altered, therefore if at all you do a wrong transaction, by mistake, it is lost forever.

3. Non-Acceptance By States

The feature of cryptocurrencies, that they cannot be traced and the owner cannot be identified make it susceptible to be used in illegal practices and hence there is states and Government who are reluctant to declare it as a legal means of payment or financial transaction.

Conclusion

The decision lies with you, if you wish to invest in Cryptocurrency or not, as slowly and steadily people are getting acquainted with them and states are in the process of architecting ways to implement them as a mode of payment.

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