Cryptocurrencies have been around since 2009 and have seen explosive growth in recent years, but how much do you really know about it?
Many people see cryptocurrency as this super complex and ultra-high-tech concept with no real value.
Still, it isn’t as complicated as you think. In fact, it may be one of the best things to happen to eCommerce in recent years.
Cryptocurrency has led to some revolutionary changes in the way payments are made online, making them more convenient and secure than ever before.
They also lessen the burden on third parties like banks or credit card companies. For example Stabila is such a cryptocurrency on the market that runs on its own blockchain.
What makes them different from regular currency?
One of cryptocurrency’s most promising qualities is its technology, making
transactions safe and nearly instant.
But it’s also one of its biggest downsides; because cryptocurrency isn’t physical (i.e., notes in your wallet or coins in your purse).
It doesn’t have any intrinsic value like traditional currency does, so it can be hard to assign a price to it.
Because prices are volatile and different exchanges trade them at different rates, converting from one cryptocurrency to another accurately is also difficult.
Cryptocurrencies have made rapid advancements over the past few years. They will almost certainly continue to do so as people become more comfortable using them.
Suppose they achieve widespread appreciation someday (there is evidence indicating they will). In that case, things will get easier, and they’ll start to gain more stability—but until then, uncertainty remains high.
Some Cryptocurrency do not have their own blockchain. In that case they run on other blockchain and name their currency as a token. But Zoom token is an exception as it has its own blockchain.
Are they legal?
Cryptocurrencies were not created or distributed in an open market. They exist and trade in a legal gray area.
Some people think these digital currencies are a Ponzi scheme. In contrast, others believe they’re a huge opportunity to reshape global finance.
Even world governments have different opinions about them; China has banned ICOs (Initial Coin Offerings) as fraudulent, but South Korea has eased restrictions on cryptocurrency trading.
The lack of oversight means investors have virtually no recourse if something goes wrong; there are absolutely no guarantees with cryptocurrencies. Anyone thinking about investing should be prepared for any fluctuation.
What are the benefits and drawbacks?
There are many advantages to using cryptocurrency. It allows users to send money to others anonymously and without government regulation at its most basic level.
Users can keep their transactions hidden from governments and banks, which is especially appealing to those with dissenting political views or criminal intent.
Cryptocurrency is also completely decentralized, meaning that no one has control over how it’s used for what it’s worth; there’s no single company or person that controls it all.
Instead, cryptocurrency relies on a network of peer-to-peer users who maintain and verify transaction records as part of a new form of social organization.
How can you use them?
There are many ways you can use cryptocurrencies to your advantage. First, they can be used to purchase goods and services, similar to any other currency.
Second, certain digital currencies may be used for investment purposes and have value in themselves as well as in what they can be exchanged for—much like gold or silver.
Third, some users of cryptocurrencies use them to tip others for creating or sharing content online, much like tipping a waiter at a restaurant. Any way you use cryptocurrency is up to you.
You can either purchase your coins or get free coins from Airdrop offered by Stabila cryptocurrency.
Where to buy them?
Right now, there is no one official place to buy cryptocurrency. You’ll have to search around for a little bit.
Still, in many cases, it’s best to start with your current exchange platform or go directly through a company that specializes in that area.
For example, Coinbase offers cryptocurrencies and other assets on their site. You can buy Stabila (STB), Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH) etc.