Today there is no consensus on the definition of the term “cryptocurrency”. Some scholars refer to cryptocurrency as a “virtual currency” and call it an innovative payment network and a new type of money, others deny the “involvement” of cryptocurrency in money and call it a “digital asset”. In general, cryptocurrency is a cheap, convenient, and technological way to carry out settlement operations around the world, as well as a promising form of investment.
Today there are a very large number of different cryptocurrencies, but the most popular is bitcoin.
Advantages of using bitcoin:
- complete anonymity. All transactions are public, personalization of addresses is absent;
- decentralized system. The lack of dependence on the government of a particular country;
- lack of commission. There is no mandatory fee in the Bitcoin system;
- international circulation. Since the issuance of cryptocurrency is not the responsibility of a particular central bank of a country, “coins” are accepted at the international level.
Factors threatening cryptocurrency: how to deal with it?
Compared to traditional financial infrastructures, Bitcoin users have significantly more control over their personal information and financial data and face lower risks of identity theft than users of fiat currencies and other digital forms of payments such as credit cards.
Although, with the further development of cryptocurrency, the number of hacker interventions has also increased. People buy, sell and trade the hacker programs that introduce the entire market today. Such programs have a wide range of capabilities and schemes to rob ordinary users.
In order to keep it safe from hackers, it is better to think about the anonymity of your currency. In this case, you can use one of the most secure services BitMix https://bitmix.biz/en that will not only help you to protect your personal data but also can guarantee you the safety of your digital money. So, do not hesitate to use such a good alternative.