Cryptocurrency: The Future Of Money Is Here

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Our world is rapidly changing as a result of advancements in technology and allied fields.

One area that has been greatly impacted by this advancement? Money and financial transactions; commerce and associated matters.

Cryptocurrency (or “Crypto”), today, has become the future of money. The compelling force and widely accepted concept behind the proponents of this non-traditional medium of exchange is to have an immovable, uncensorable, and decentralized medium of value exchange free of the endemic problems within traditional financial systems and governments.

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What is cryptocurrency?

A cryptocurrency, crypto-currency, or crypto is a collection of binary data which is designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger which is a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. Some crypto scheme use validators to maintain the cryptocurrency. In proof-of-state model, owners put their tokens as collateral. In return, they get authority over the token in proportion to the amount they stake. Generally, these token stakers get additional ownership in the token over time via network fees, newly minted tokens or other such reward mechanisms.

Cryptocurrency does not exist in physical form (like paper money) and is typically not issued by a central authority. Cryptocurrencies typically use decentralized control as opposed to a central bank digital currency (CBDC). When a cryptocurrency is minted or created before issuance or issued by a single, it is generally considered decentralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.

Bitcoin, first released as open-source software in 2009, is the first decentralized cryptocurrency. Since the release of Bitcoin, many other cryptocurrencies have been created. (Source: Wikipedia.org)

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There are so many cryptocurrencies that have come into existence after Bitcoin, and more are still coming up…As of September 2021, there are more than 6,500 cryptocurrencies in existence! Some of them are: Ethereum(ETH), Litecoin(LTC), Cardano(ADA), Polkadot(DOT), Bitcoin Cash(BCH), Stellar(XLM), Chainlink(LINK), Binance Coin(BNB), Tether(USDT), Monero(XMR), Ripple(XRP), and a host of others.

The strength of a cryptocurrency is measured by these: following or trading volume, and immense popularity among dedicated communities of backers and investors.

Dogecoin a little-known coin came into global prominence and high value when one of the richest men on earth, Elon Musk (CEO of Tesla and other global brands), promoted the token on social media.

Cryptocurrency has experienced exponential growth in the last decade, with new innovations and a collective market cap of nearly US$2 trillion!

The future of money is here now, get onboard the cryptocurrency train to secure your financial future!

 

You Can Make Money From The Online Financial Market

         

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Online Currency Trading? Foreign Currency Trading? Foreign Exchange-Forex, FX?

What is it, anyway?

The online currency trading (foreign exchange, Forex, FX) market is the biggest and fastest growing market on earth. Its daily turnover is more than 5 trillion US dollars! The participants in this market are central and commercial banks, corporations, institutional investors, hedge funds, and private individuals like you and me.

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What happens in this market?

Markets as we know are places where goods are traded, and the same goes with Forex. In Forex markets, the “goods” are the currencies of different countries (as well as gold and silver). For example, you might buy Euro (the European currency) with US dollars, or you might sell Japanese Yen for Canadian dollars. It’s as basic as trading one currency for another.

Of course, you don’t have to purchase or sell actual physical currency; you trade and work with your own base currency, and deal with any currency pair you wish to. The beauty of this business is that your activities in this market are carried out via the internet, and from wherever you are on this earth, as long as you have a very strong internet signal. And, you can use a desktop/laptop PC, Tablets, and smartphones. This business of buying and selling foreign currencies via the internet is what is called Online Currency Trading, or Forex Trading.

How do you profit in the Forex market?

Very simple, buy low and sell high!

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The profit potential comes from fluctuations in the currency exchange market. Unlike the stock market, where shares are purchased, Forex trading does not require physical purchase of the currencies but rather involves contracts for amounts and exchange rates of currency pairs. The advantageous thing about the Forex market is that regular fluctuations in the regular currency exchange markets, often around 1%-are multiplied by 100! This allows the Forex trader to make huge gains provided their analysis and trading decisions are in order. Conversely, this too can apply to your losses if the market moves against you!

How risky is forex trading, you may ask?

In the Forex market, you cannot lose more than your initial investment (also called your margin). The profit you may make is unlimited, but you can never lose more than the margin. YOU ARE STRONGLY ADVISED TO NEVER RISK MORE THAN YOU CAN AFFORD TO LOSE.

Please note, that online currency trading IS NOT A GAME! It is A BUSINESS!

A lot of folks ignorantly assume that trading currencies online is a game, that’s why many who have this mindset never succeed. They don’t know that Forex trading is a business and because it is a business, it has its rules and regulations just like any other business. One of the rules of Forex trading is that you must have accurate knowledge and understanding of everything that has to do with this business known as Online Currency Trading(FOREX). Your involvement in this business enterprise demands that you learn, and keep on learning so that you can succeed continuously. Forex education is a must!

You can make money from online currency trading (Forex trading) if you are really serious about making money online. The first step is to get the relevant education by looking for a reputable Forex training academy. The internet offers many opportunities to learn all you need to know about Forex trading. Friend, I would strongly advise you to go for a paid program so that you can have a thorough education in this business. Besides, the majority of these paid programs offer mentoring along with your enrollment; they guide you and monitor your progress until you become a consistently profitable Forex trader. Doing a diligent search on Google will be of great help to you.

I would strongly appeal to anyone looking to make money from online currency trading (Forex trading) to sit down and ask themselves if they want to undertake this lucrative business with its attendant risks.

Friend, you can make money from the online currency trading (Forex) market if you really desire to make money online.