What is cryptocurrency? How does the investment help a common man?

Cryptocurrency is digital money that is secured by blockchain technology. Cryptocurrency investing can take many forms, ranging from buying cryptocurrency directly to investing in crypto funds and companies. Digital signatures can be used to keep the transactions safe, and let other people check that the transactions are real.

The primary benefit of Bitcoin and most other cryptocurrencies based on blockchain technology is that they don't have a central authority, payment processor, or company owner. Instead, crypto networks are peer-to-peer, meaning people can transact directly with one another.

Investing in cryptocurrency is risky, so it's important to not invest more money than you can afford to lose.

Investors worldwide have invested and are starting to invest in cryptocurrency. While Bitcoin is likely the best-known digital money, thousands of cryptocurrencies already exist.1 Cryptocurrency can be considered as one of the newest and most exciting asset classes that is available to investors.

MetaShiba is one of project you can refer. There were many other tokens with the same name, but most of them have already died down due to poor management, scam, or without actual development. But $MSHIBA is a genuine metaverse game project that has new development all the time.

Let us understand from very basic, what is a CRYPTOCURRENCY and how it is important?

When we buy or sell things, the payment is usually processed by banks or credit card company.

What are the problems in this process-

1). The companies often take a cut of the transactions.

2). We have to trust these companies to protect our data from hackers.

3). Most international payments take a long time and expensive.

To solve all these problems, we could use a special currency that is secure and based on the science of cryptography, which is a way of protecting the information using mathematics.

This special type of currency is called a CRYPTOCURRENCY and only exists in computer networks.

BENEFITS of using cryptocurrency-

1). When you send the special currency, the money goes directly to them, removing the middleman.

And at the same time, the transaction is broadcast to the entire network and recorded in a permanent way, which means it is impossible to fool the system.

2). Costs of making payments are lower.

3). Transactions are faster especially across countries, and even those people across the globe who don’t have banks accounts, can buy or sell goods and participate in the global economy.

However, there are some risks of using cryptro currency,

1). The transaction in most crypto currencies are anonymous.

2). Some crypto currencies can even be untraceable. This can make it easier for the bad guys to make payments without being notices.

3). If you lose your password, you could lose all your money.

4). At the moment, crypto currencies are highly volatile.

5). They can’t process large amounts of transaction quickly yet, and don’t even widely accepted.

But if we can counter the risks, then this new technology or some variation of it can completely change the way we sell,buy,save, invest and pay our bills.

This can be the next step in the evolution of money.