The Pros & Cons Of Cryptocurrency ||Cryptocurrency

What is Cryptocurrency currency

The time is changed now most of the transacton are done online with it which is also know as virtual currency .We can not touch because it is not in physical form .They are stored in our electronic wallet .The increasing demand of virtual currencies in today’s market it give's rise to thousands of more virtual currentcy. Phrases or words such as Blockchain, alternative currency , cryptocurrency, online currency ,digital currency are everyday buzzing our notification bell again again daily.

According to current analysis value of some cryptourrencies are much more than the Ammerican $ (U.S Dollar).In general the potential of these currencies are increasing with theincrease ofonline transaction.They become the mainstream transaction method in online markets.Moreover these online currency are gripping their hand in every sectors.For eg: -Black market,Deepweb,Darkweb,E-commerce etc.

Cryptocurrency currency

It is an innovative way through which we can have cash . We can see our cash on our electronic device(computer,mobile). It is unregulated because their no account of any transaction done throungh it.It is developed or programmed by a developer or a organisation.There is no control of any government on cryptocurrency currency which result in zero(0) surveillance on our transaction done with them.

Diffrence between Digital currency, virtual currency and cryptocurrency

1. Digital currency
   These type of currencies are only available in digital form on your device you can not physically use it . These type of currencies include both virtual curriences and cryptocurrencies . You can use it for buying anything online or doing online transaction.


2. Virtual currency
   It include an large chunck of digital currency .It includes monetary assets in the virtual form. It may be or may be not regulated by goverment.Mostly virtual currency are regulated by the central bank of the country but some are not are not regulated by anyone.


3. Crypto currency
   It include online currencies which are neither control by any government nor byan organization. These currency are mostly used for anonymous transaction done on deep web or on any other online platform . the transaction done through this can not be tracked and their is not account of transaction through it.

Pros and cons of crypto currencies

• Pros

1. Anonymous
   The transaction done with the help of crypto currency are fully anonymous .It is impossible for anyone to track down your transaction and I.P address.


2. Instant way
   This is an instant way of tranferring money to the person and te money can be deposited in just few seconds of tranfer .You only need the virtual address of the reciever.


3. Secure
   Once the payment is send to the reciever it can not be reversed at any cost back to the sender. There is no chance of online scam and frauds.

• Cons

1. World-wide acceptance
   This is the main reason why people hesitate in using crypto-curriences .Many banks does not accept crypto curries at all .They are mostly used for sending money to someone on deepweb.


2. Irreversible
   The process of sending money is irreversible so' if you send money to wrong account there no chance of getting that money again except asking the account holder to return it .


3. Losing your wallet
   The main problem which can put you in serious trouble .If you mistakenly forget your wallet password their is no chance of getting back your wallet password .You should always rember your password as well as account address.