Why FED Cannot Prevent The Rise Of Cryptocurrency
In the currency world, the value of cryptocurrency is skyrocketing each day. Among all other cryptocurrencies, bitcoin is delivering the best result. Many people believe that this meteoric rise of cryptocurrency is temporary and the FED will intervene soon. As a result, the price of bitcoin will plunge soon.
However, cryptocurrency expert has a different opinion in this subject. They believe that the lifespan of the fiat currency is limited and within a couple of years all major economies of the world will accept cryptocurrency and allow buy and sell bitcoin legally.
Why cryptocurrency is inevitable
Many people don’t know anything about cryptocurrency and often ask, bitcoin what is it? A simple explanation of their question is that bitcoin is a cryptocurrency. It is only present in the digital space in the form of a ledger. FED controls the valuation of the dollar, but no one controls the valuation of bitcoin.
In short, it is a beautiful form of decentralized money that no one controls. Another advantage of cryptocurrency is that its transaction is non-traceable. Anyone can make payments anonymously. With the help of a USB stick-like device, you can carry it everywhere. All of these features make it better than fiat currency.
Types of cryptocurrency
You must be wondering that bitcoin is the only cryptocurrency. However, there are many cryptocurrencies are in circulation now. Here are some cryptocurrencies that recently got their value appreciated by the market.
· Dogecoin
· Ethereum
· Nxt
· Litecoin
The unstoppable future of cryptocurrency
All experts in the cryptocurrency industry believe that it has a bright future. Recent turmoil in the financial world shows everyone how governments manipulate fiat currency value for their benefit. Any kind of intervention depreciates the value of fiat currency.
On the other hand, cryptocurrencies are above government regulation. Due to very low inflation, the value of cryptocurrencies appreciates all the time. Recently, S&P 500 Company Tesla brought more than 1.25 billion dollars’ worth of cryptocurrency through the bitcoin website. They also announced that they will accept cryptocurrency payment for their vehicle.
This move clearly shows the potential future of cryptocurrency. Many experts believe that more and more established companies will follow the financial strategy of Tesla and purchase more cryptocurrencies in the future. If it happens, then there is no doubt that cryptocurrency will dominate the financial market.
How to protect cryptocurrency purchase
Purchasing cryptocurrency is a simple process. For this, you need to contact the cryptocurrency exchange first. Here you need to open an account and exchange your money for cryptocurrency. One thing that might surprise you, that unlike cash you receive a digital ledger for your cryptocurrency.
You need to keep this ledge in a secure bitcoinwallet. The wallet is a digital device that looks more like a USB stick. There is an app inbuilt, which helps you do the transaction. In a wallet, you can store an unlimited volume of cryptocurrencies. One thing you should always keep in mind that this wallet uses a secure system and you need to remember the password for transactions.
