When we hear the word currency, the first thing that comes to mind is the cash currency we deal with every day. A cryptocurrency is a form of virtual currency that is used all over the world for various transactions. These cryptocurrencies have a lot of worth attached to them. There are many cryptocurrencies in the world, Bitcoin being the most popular one. Another popular cryptocurrency is Ethereum. These currencies are gaining more and more popularity with every passing day because they are a practical way of sending money and collecting money through a virtual medium.
IS THERE ANY DISADVANTAGE OF A CRYPTOCURRENCY?
A major disadvantage of a cryptocurrency is that its worth is unreliable. The value of any cryptocurrency, particularly the Bitcoin changes from moment to moment. When the value reaches a higher numbers everyone is pleased because of the profit that they are going to make, but it becomes a disturbing affair when the price of the currency drops. The Bitcoin had reached up to $20,000 as a high number and has gone down to $3000 as well, and is currently standing at a bit more than ten thousand dollars.
THE NEW CRYPTOCURRENCY
A new cryptocurrency known as Libra is being introduced this year. The cryptocurrency has been issued by none other then Facebook. It will operate through a blockchain issued by Facebook as well. This cryptocurrency will indefinitely increase the ever-growing market for cryptocurrencies. The whole idea is revolutionary and soon it will dominate the cryptocurrency market.
With new cryptocurrency entering the market, people need to know more about it and plan on investing in it for its worth good money.