ED VoxPop is where we ask people different survey questions and get responses to conduct sort of a poll of our own.
Cryptocurrency has become the talk of the town for quite some time during the lockdown as many went on an investing spree. As is common knowledge, the crypto market is mostly dominated by youngsters who have sought to increase their portfolios to accommodate the future. The decentralized and unregulated currency market has since long been the target tool to measure the effects of the asset.
Since the pandemic raged about our world, the global community has looked towards the crypto market as a new asset market. This new market is unregulated, and to initiate upon the trade, the investor can pitch in an amount as meagre as 100 INR.
The fact that many have taken to crypto marketing rather than traditional stock marketing is due to its inclusivity. As opposed to paying a minimum of 500 INR per stock, the crypto market provides one with the choice to buy single or multiple coins at the low price of 100 INR.
Although the crypto market is tenaciously volatile, to say the least, the investment is one that will go well into the future of finances.
What Is Cryptocurrency?
To delve into the efficacies of what is cryptocurrency and crypto trade, what needs to be understood is the difference between regulated, fiat currency and unregulated currency.
Any form of bank-regulated currency is referred to as regulated currency as its production in itself is controlled and regulated by the Central Bank.
Accordingly, an unregulated form of a currency refers to an asset that works in the same vein as a currency but in itself can be produced without any bounds of regulation owing to a lack of third-party interference.
Thus, now to deem what is a cryptocurrency, we shall define it right below;
“A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers.
A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.”
Thus, it can easily be understood that cryptocurrency in itself cannot be tampered with by any party or parties, owing to the sole reason of it being a virtual currency. By terming it as virtual currency, what can be deciphered is the fact that it physically lacks any value unless we add value to it, much like how stocks work.
Also Read: In Pics: 8 Most Popular Cryptocurrencies To Invest In Other Than Bitcoin
Thus, we asked a few folks about their experience investing in cryptocurrency and if they wished to invest in it further into the future.
Should Crypto Be Invested In And/Or Do You Plan To Invest In It In The Future?
Thus, with a fresh new perspective available to you on whether or not to participate and involve yourself in the world of crypto trading, it is for you to decide if you wish to invest.
However, in the world of tomorrow where unregulated currency will play a major role in advancing our society, it is only fair to arm yourself with the best of armaments.
No matter what you choose, it stays undeniable that cryptocurrency has changed the world of finance and turned it upside down, and it will continue to do so.
Image Sources: Blogger’s own
Sources: Investopedia, Contributors’ opinions
Connect with the blogger: @kushan257
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