What are the 8 Characteristic Of Cryptocurrencies?
2021.06.01 05:22
Hi~It's Unicorn
Today I will introduce you the characteristic of cryptocurrencies. :)
1. Irreversibility
Cryptocurrency transactions are irreversible. Once the transaction is confirmed, no one can undo the transaction, including government, cryptocurrency creators and miners.
2. Confidentiality
Cryptocurrency is also anonymous. We receive Bitcoin through a string of addresses. Although the capital amount for cryptocurrency transactions can be measured, no one can know the user's identity in the real through the string of addresses.
3. Speed
Cryptocurrency transactions are instantaneous, and transactions can be confirmed in few minutes.
4. Global reach
We trade cryptocurrency on the global network. You can receive or send funds from anywhere.
5.Unrivaled security
Cryptocurrency funds are safely locked in the blockchain system, which can only be accessed by the owner through a private key, is protected by strong cryptographic technology, and it’s hard to be cracked.
6. No restrictions
You can free to use cryptocurrency without any permissions.
7. Controlled supply
Cryptocurrency is more attractive than traditional fiat currency, because the supply is controlled through the coding.
8. Debt-free
Credit currency is the creation of monetary value through the establishment of future claims, obligations, or debts. Cryptocurrency is different from credit currency. It is not the creation of debts.
Yes, this is definitely true!
All of these factors have made crypto attractive asset classes to trade :)