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Fundamentally, cryptocurrency refers to digitalized currency meant for internet-based transactions.
Officially, it has been around for more than a decade and has grown as an alternative to fiat currency. But its history can be traced back to the 1980s. Let’s take a quick dive into a brief history of cryptocurrency.
The cryptocurrency idea was first introduced in 1983 by David Chaum, a cryptographer when he explored the idea of a currency that could be sent untraceable without involving financial institutions. He later introduced Digicash in 1995 building on these ideas.
Through the years, a lot of ideas were introduced based on the cryptocurrency concept. For example, Nick Szabo, in 1998 introduced a one very much like Bitcoin. However, they weren’t able to resolve the problem of double spending.
But in 2008, Satoshi Nakamoto introduced the world to a peer-to-peer electronic cash system through the Bitcoin white paper. Bitcoin was then launched in 2009 and it has since then gained popularity as the first of many cryptocurrencies in the world today.
There’s a rapidly increasing need for a transparent and secure financial system, away from the current centralized financial system. This has resulted in crypto’s rapid growth through the years.
As of 2021, there were over 300 million crypto holders worldwide. With more and more people embracing its concept of decentralized finance (DeFi), it has become the number one contender against the traditional banking system.
In a recent survey, over half of Americans believe that cryptocurrency is the future of finance, and living the idea of adopting it is valid for transactions and investments.
We believe that this claim isn’t unfounded because, at its core, crypto aims to cut out intermediaries and boost cost efficiency, user privacy, and customer control. Users will be able to take control of their finances, and privacy in a worldwide, trustless economy. Thereby, creating an ecosystem where users, irrespective of geographical location can carry out borderless transactions.
Whether or not you invest in crypto depends on what you’d like to achieve.
Crypto enthusiasts would tell you to go right ahead, while others will caution you about its volatility.
What are you trying to achieve? Are you looking for quick returns and fast cash? Then crypto is probably not for you as there’s a high level of risk involved.
However, with the right approach, crypto has an excellent potential of yielding incredible returns. This isn’t financial advice but creating a diversified portfolio can also boost your chances of making money from it.
If you’re looking to invest in Crypto, you need to do lots of homework to learn about the currency before investing in it. This will require a lot of research on your part to find a prospective coin and a trustworthy wallet. The other way is to seek out financial consultants to point you in the right direction
Alternatively, you can have a look at possibilities of staking and delegating your tokens with AAAvalidator. With our investment wizard you will get all the analysis regarding the projects of your interest and coins of your choice as well as educational guides of how to stake and delegate with us.
To learn more about AAAvalidator investment wizard, stay tuned for updates.
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