For the past few years, Cryptocurrency has been a new trend in the trade market. When introduced in the market, it was a new concept that many people thought it as a trend bubble. It has been over a decade, and the Cryptocurrency is still going strong.
We have been in the Crypto trade market for more than four years. When we started trading in the Cryptocurrency, we used to see only its positive aspects. We never spared a thought about its other features whatsoever. After these long five years, we now have more to say about Cryptocurrency.
In this article, we will share our experiences and enumerate everything we have seen in the Crypto trade market.
When we started with the Crypto trade market, we have the only positive feeling for the Cryptocurrency. But now, after a long five years, we are filled with different kinds of emotions: right, wrong, and optimistic.
What we felt good about cryptocurrencies?
Cryptocurrency is undoubtedly a boon for the trading world. It has given the traders and investors a new way of seeing the trade market and has opened a new income source. Here are the things that we feel good about the Cryptocurrencies:
What is decentralized? Decentralized means, there will be no single authority that will rule over the network. Every member will be the owner od their part of the network. This is what's best in the Cryptocurrency blockchain network.
Like the fiat currency, Cryptocurrency is not restricted to the borders. If both parties are happy, they can transfer money with the help of the blockchain's public ledger network even if both parties belong to the different nations.
Competitive in the market
Cryptocurrency has been very useful in the nation where the fiat currency's inflation rate is too high. Countries like Africa and Venezuela are using Cryptocurrency, just like the standard currency to compete in the international trade market.
Rivals fiat currency
Cryptocurrency holds similar power to that of fiat current. To be precise, Cryptocurrencies have their advantages over the fiat currency. This has made the fiat currency work for its money. If the fiat currency regulation becomes prominent, there is a chance that it might replace the fiat currency in the near future.
What we felt terrible about the cryptocurrencies?
The good and the bad part of the Cryptocurrency seems well balanced to us. Being a digital currency, and not having any physical for itself is a bad thing. Here are the things which we felt terrible about the Cryptocurrencies:
Regulation is made on trust
Cryptocurrency has yet to be accepted by the government. That means it is still illegal in a sense. And all the trading that is being done in the form of the Cryptocurrencies is done on just trust. We are just trusting the other people giving us money in the way of Crypto coins, and they are expecting the same from us. But what happens if the trust is broken. The total assets and money that we have invested in the Cryptocurrency will be lost.
Price is evaluated on stocks
The stock of other elements manipulates the price of the assets. But when it comes down to Cryptocurrency, the shares of the Crypto coin itself bring changes in the Cryptocurrency price evaluations. That means whoever holds a higher number of crypto coins in the market will be able to manipulate the Crypto coins' price.
Worldwide adaptation of the Cryptocurrencies
We all are hoping for the universal adaptation of the Cryptocurrencies. But what happens if that happens this instant? What will happen to all the assets that you have kept in the form of paper money? Well, that is something we need to take care of before making Cryptocurrency as a mainstream currency.
What we hope for Cryptocurrency?
We are yet to use the Cryptocurrency to its full potential. There are still some unexplored lands. We can move forward more cautiously so that we have nothing to regret in the future. With that being said, if you are interested in Cryptocurrency and want to learn Crypto trade strategies. You need to visit the bitcoin trader app website to have it all.