Review on Bitcoin by Mertcan Ölçer
My Bitcoin Review
In recent years, digital currencies have been gaining traction, and despite the fluctuations in the value of bitcoin and other cryptocurrencies, more and more people start seeing cryptocurrency as a viable investment option. For example, Bitcoin, which is the most popular cryptocurrency, has taken over the digital currency market, and some of the largest businesses around the globe, including Microsoft, Overstock, and AT&T, now accept it as a method of payment.
The most outstanding characteristic of cryptocurrency is that it is independent of any government or central bank. In other words, investors can ‘hide’ their wealth in the form of cryptocurrency without the fear of their governments confiscating it.
But not everyone is for investing in cryptocurrencies. Some groups and individuals have been, and still are, skeptical about the whole idea to the extent of dubbing cryptocurrency a ‘bubble’ that will eventually burst. However, the crypto market proved to be more than just a passing fad, and the benefits of investing in cryptocurrency are known to be profound.
Cryptocurrency, just like any other investment with the potential for high returns, is a risky venture. So, if you are new to the world of investing and you are considering investing in the virtual currency, it is important to evaluate the costs and benefits of doing so before adding cryptocurrency to your investment portfolio. In this post, we take a closer look at the advantages and disadvantages of cryptocurrency to help you get a clear view of what to expect.
Pros
- 1. Anonymity 2. Portability 3. Transparency 4. Accessibility
Cons
- 1. Volatility 2. Cybertheft 3. Financial Losses 4. Complexity
