THE DARK SIDE OF CRYPTO.

 

Title: The Dark Side Of The Crypto World

Hey guys, I trust you are enjoying our simple educative, and informative content . Today, I will be addressing the dark side of the crypto world.

Crypto!

Cryptocurrency!!

Cryptocurrency!!!

What have you heard about Crypto?

Have you ever assumed answering this question, what exactly is the potential of Crypto assets?

Well, we have something great for you today.

Do you know that People use cryptocurrencies for a variety of reasons? Some use them as an investment, while others purchase goods and services.

Are you aware that  Cryptocurrencies can also be used to transfer money internationally at a lower cost than traditional methods?

Here is the kicker!

Cryptocurrency is a digital or virtual currency that uses cryptography to secure transactions and control the creation of new units.

Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Since then, hundreds of other cryptocurrencies have been created.

Created in 2009, Bitcoin is a digital asset and a payment system. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.

Bitcoin is controversial because it is a decentralized currency operating outside government control. It has also been used for illegal activities painting the crypto world scam.

Cryptocurrencies are often traded on decentralized exchanges and can also be used to purchase goods and services. While they are still relatively new, cryptocurrencies show much promise and could be the future of every financial freedom.

It's obvious that crypto has been making sensational headlines in the past; the online money-making machines has turned many ordinary people into a billionaire and are now considered by the world bank to be the world's largest financial market platform in history.

Some benefit of the crypto world includes

- Decentralization: Cryptocurrencies are not tied to any central bank or government, meaning they're independent and can't be manipulated.

- Security: Cryptocurrencies are encrypted, meaning they're much more secure than traditional currency.

- Anonymity: Unlike traditional currency, cryptocurrencies can be used anonymously.

- Global Availability: Cryptocurrencies can be used anywhere in the world

While this transaction is very safe, there is a darker side to the story "crypto world," and we will show you here.

The Dark Side Of the Crypto World

• Regulation

It has been proven that crypto is dangerous and very easy to induce criminals because it is out of control.

Government and authorities have failed to keep control of the crypto world as promised in its existence. They just run its regulation as formalities; meanwhile, the real thing is that crypto can no longer be regulated.

Since it can't be regulated, it gives more opportunities for people to misuse it.

• Feckless use of Energy 

Every related Crypto activity requires enough energy to run properly; unless there is a reference to renewable energy, the crypto world makes no sense.

• There is no refund or cancellation policy

Unlike other financial platforms, you can request a refund of your transaction if you don't feel like continuing or have the ability to cancel a transaction. The Crypto world does not support this policy. 

Why?

Because anyone or any organization does not control it, once it leaves your wallet, you also say bye-bye to it.

• No market Regulation 

Presently, crypto is out of market Regulation. Many people are doubtful about their visibility and existence in the financial world.

If all the crypto transaction is out of a market regulator and government, it will likely cause heartbreak to many customers who jumps into it.

• Cybercrime activation 

Everything in the crypto world borders on regulation; they lost it many years ago, giving the platform to untrained people to mess up the financial world using the opportunity to stalk money from innocent people online.

• They fluctuate in the market sphere 

Yes, the Crypto world doesn't steady, they swing in and off, and most times, they can do away with your money, and no one dares to challenge them. No refund, no trusted person to inquire.

• It records more loss than Gain

Cryptocurrency world values have dropped to the extent that customers lose more than they gain in the platform.

Crypto investments have seen rapidly more losses than investments in a diversified portfolio. 

On April 13, 2021, the bitcoin price surpassed $63,000, but on  June 27, 2022, the price was around $21,000. That’s a shocking loss of two-thirds of its value in 14 months. 

One of the risks of cryptocurrencies is that governments or traditional financial institutions do not regulate them. They can be used for illegal activities such as money laundering and drug dealing. Additionally, they are incredibly volatile and can experience large price swings, resulting in substantial losses for investors.

Conclusion

Cryptocurrency is shaking up the way we think about money, and it has the potential to change the financial landscape in the future completely. However, we need to keep an eye on it as's dark sides increases every day.

Hey guys,

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