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These Are Four Reasons Why Crypto Assets Are Loved a form of digital asset. The word cryptography itself comes from the word cryptography which is a technology to hide certain information with a mathematical algorithm. With cryptography can secure the assets owned.
Crypto assets have started to bloom along with the increasing popularity of bitcoin. In fact, Elon Musk has already allowed the purchase of Tesla using the cryptocurrency.
So, what exactly is meant by these crypto assets? Investment in crypto assets is still relatively new, but it has attracted quite a lot of attention from the public.
However, an understanding of crypto assets needs to be deepened before investing in it.
a brief explanation of crypto assets.
What Is A Crypto Asset?
A crypto asset is a form of digital asset. The word cryptography itself comes from the word cryptography which is a technology to hide certain information with a mathematical algorithm. With cryptography can secure the assets owned.
Crypto assets can be used for many things, from buying coffee, plane tickets, cars, or even simply sending them to friends and family overseas.
Then what is the difference between crypto assets and electronic money that is available in various financial applications that can also be used for transactions? Well, actually there are many more uses for crypto assets.
When using digital wallet applications that are widely used today, a central authority is required to verify transactions. This authority also decides whether or not it is permissible to spend the money.
Some services can freeze your account if they deem it necessary. Crypto assets, on the other hand, operate without a central authority. So money can be directly transacted between users without any intermediary institutions.
No central authority means having the freedom to save, send or receive money.
Why Are Crypto Assets Important?
Forms of money have evolved from time to time: from sea shells to beads, from gold to paper money. We have now entered the digital era and it’s time for us to use digital money that is even more advanced. Here are some of the reasons why crypto assets are so popular :
1. No Intermediaries
You can transact crypto assets directly from sender to recipient, without the need for an intermediary to manage your transaction. Each transaction is carried out only by the sender to the recipient.
2. Cheap And Fast Payment Methods
When you want to send money to someone else in any country you will definitely use crypto assets, the money will arrive in a few seconds and be settled on the spot.
3. Hold Sensor
No one can turn off crypto assets because the software is free and anyone in the world can participate to make the crypto asset network more secure.
4. Secure
It is almost impossible to hack and crack crypto assets due to its blockchain technology and how the crypto assets are designed.
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What Crypto Assets Are Out There?
The most popular crypto asset and the first one to be created is Bitcoin. The creator of Bitcoin, named Satoshi Nakamoto, created a 9-page document in 2008, he described a new peer-to-peer electronic payment system called Bitcoin.
Furthermore Satoshi started the first Bitcoin server in 2009. Until now, we don’t know who Satoshi Nakamoto is. This is what makes crypto assets attractive because identities are not required to execute an idea.
Since the emergence of bitcoin, there have been other types of crypto assets that have different purposes and provide different solutions.
Some crypto assets are more private than others, faster than others, more programmable than others and much, much more. To date, there are more than 500 crypto assets out there.
A phenomenon that is unique in the world of These Are Four Reasons Why Crypto Assets Are Loved is the magnitude of the influence of technology icons. Elon Musk’s tweets on twitter or news of a mega investor entering the crypto world can affect the price of an asset.
One of them is the case of Dogecoin, which experienced an increase in price due to Elon Musk’s tweet. However, after he rarely promoted the coin, the price of Dogecoin fell back into free fall.
This is evidence of the volatility of cryptocurrencies that are vulnerable to being influenced by popular figures.
So, just like fiat currencies, cryptocurrencies basically have value due to the people who use them. Crypto-assets are considered valuable because they can become a global medium of exchange with a value recognized by many.
In addition, because it is a relatively new type of money, the perception of the value of cryptocurrencies will continue to grow.
