/  About Crypto

About CRYPTO

Basic understanding of crypto

Cryptocurrency is the new way of online payments. Crypto is a digital or virtual currency that is secured by cryptography, which make it imposible to counterfeit. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers.

The most defining feature, is that they are not issued by any central authority, rendering them theoretically immune to government interference or manipulation.

The Market Cap of the crypto universe has exceeded the 1.5 TRILION EUROS, fact that shows it’s dominant side.

Advantages

Cryptocurrencies hold the promise of making it easier to transfer funds directly between two parties, without the need for a trusted third party like a bank or credit card company. These transfers are instead secured by the use of public keys and private keys and different forms of incentive systems, like Proof of Work or Proof of Stake.

In modern cryptocurrency systems, a user’s “wallet,” or account address, has a public key, while the private key is known only to the owner and is used to sign transactions. Fund transfers are completed with minimal processing fees, allowing users to avoid the steep fees charged by banks and financial institutions for wire transfers.

Disadvantages

The semi-anonymous nature of cryptocurrency transactions makes them well-suited for a host of illegal activities, such as money laundering and tax evasion. However, cryptocurrency advocates often highly value their anonymity, citing benefits of privacy like protection for whistleblowers or activists living under repressive governments. Some cryptocurrencies are more private than others.

Bitcoin, for instance, is a relatively poor choice for conducting illegal business online, since the forensic analysis of the Bitcoin blockchain has helped authorities arrest and prosecute criminals. More privacy-oriented coins do exist, however, such as Dash, Monero, or ZCash, which are far more difficult to trace.

About Crypto

Easy transactions

Eliminate the middle man, paperwork, brokerage fee, commission, using a secure network while the transactions would be transparent. In this way, it becomes easier for you to establish the audit trails,

Asset transfers

The cryptocurrencies can be used to transfer the ownership of assets on one name to another name by paying the seller through bitcoin using the blockchain ecosystem.

Confidential transactions

Every transaction you carry out with the recipient would be unique and the information is exchanged based on the push concept. You can only share the information that you want to disclose to the recipient.

Low transaction fee

Every transactions requires paying fees to miners. The data miners would receive their compensation from the cryptocurrency network, so there would be no charge or very less charge on the transaction fee but compare to the traditional financial system is much less

Give access to credit

Internet is allowing people to transfer cryptocurrencies with ease and securely. The cryptocurrency service can be used by anyone who has access to the internet knowing their cryptocurrency network. In this way they carry out transactions and asset transfers.

Hold ownership

In cryptocurrency is that you will be the sole owner of private and public encryption keys. and it becomes easier to identity the cryptocurrency network.

Strong security

When you perform the transaction in cryptocurrency, you cannot reverse it. There will be a reliable encryption technique used throughout the cryptocurrency transaction process to protect from hackers and tampering the information.

Decentralization

The blockchain technology will manage the database that has the bitcoin transaction records. The decentralization would involve only two parties in the transaction, the sender and receiver. There is no third party and no one to monitor your actions.