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December 12 2022 Cryptocurrency

Cryptocurrency: what is it and why should you care?

The question "Cryptocurrency, what is it?" is coming back from more and more places. Although at first it seemed like something the vast majority of people would have nothing to do with, we now somehow feel it's worth investigating what this particular currency is all about.

That's one of the reasons why we can't ignore it, because more and more places around the world are accepting it as a means of payment, so we can use it to book accommodation, airline tickets and even pay at one of the biggest online shops in Hungary.

But let's not get ahead of ourselves, let's start with the basics. So far, experience has shown that, like all technological innovations, people are afraid of cryptocurrency. That's how it was with smartphones, and then we'll see what happens! Interested in mining or trading crypto?  Read on!

Cryptocurrency? What is it?

Cryptocurrency, or cryptocurrency is actually a completely new concept of money that seeks to eliminate the drawbacks and flaws of the currencies issued by the currently dominant states and financial institutions. I am sure you feel that money in every age is that which is not properly distributed and divided among the great powers.

While not everyone has access to 'traditional' money, the really big fortunes are in the hands of the wealthy top leaders, the political powers, squeezing ordinary people out of the opportunity to reach the big plate and feast on their own. Cryptocurrency, on the other hand, is not linked to any state, political party or company.

Why is this good? Mostly because it gives anyone access to it, and the possibility of fraud and embezzlement and sudden bankruptcy is completely eliminated, as nothing will affect cryptocurrencies in the same way as the various currencies of countries. If it's so good, why doesn't the world switch to it right now?

The complexity of cryptocurrency

At first sight, it may sound dauntingly complicated that cryptocurrency can be mined by performing complex operations. In addition, you can buy coins and tokens on online exchanges and even get cryptocurrency from selling them.

Fortunately, there is already excellent software for trading, called trading bots, which buy and sell cryptocurrency even when you are doing something else. Of course, that doesn't mean you can't do it, but you'll find it much easier to earn cryptocurrency if you automate most of the process.

The blockchain is definitely worth getting into cryptocurrency trading. This interconnected data pool, where all previous cryptocurrency transactions are stored, helps to eliminate the possibility of fraud and embezzlement!

But what is the future of cryptocurrency?

People are understandably cautious, especially when it comes to money, and especially when it's all happening in the online world. But it's worth knowing that there have been many security advances since cryptocurrencies first emerged.

As the technology continues to develop, the spread of cryptocurrency could mean the end of the monopoly of banking systems and financial institutions, but while some countries are encouraging their citizens to use cryptocurrency, others are discouraging it.

But if you feel we've piqued your interest, check out our knowledge base, YouTube videos or even take part in our face-to-face training sessions, where you can dig deeper into the world of cryptocurrency that promotes equality and equity! Contact us and take your first steps with us!

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The content of any communication by the Service Provider is based on a subjective opinion and is intended only for general, non-personalized information, strategy, orientation and educational purposes. The Service Provider is not considered an investment firm under section 4 paragraph (2) point 10 of Act CXXXVIII of 2007 on investment firms and commodity dealers hereinafter referred to as the Investment Services Act. and the Service Provider's activities are not regarded as investment analysis under section 4 paragraph (2) point 8 of the lnvestment Services Act or investment consultancy under section 4 paragraph (2) point 9 of the lnvestment Services Act.