Be Careful Using Cryptocurrency

  • **For those of you who are accustomed to doing business online, maybe you have heard Bitcoin. Bitcoin is a digital currency that is obtained by means of 'mining'. The difference with actually mining is, you are mining with your computer. Your computer functions as a calculator to solve blocks, which later you will get a reward in the form of bitcoin.

    Today Bitcoin is one of the most popular currencies used by foreigners. Even merchants that use Bitcoin as a payment tool also exist in Indonesia. Bitcoin itself is a warm conversation. At all time high, the price of Bitcoin is once equivalent to one troy ounce of gold.

    At present even the value of Bitcoin is still very high. One bitcoin is equivalent to more than US $ 1100. With its success, there are now many similar currencies. Other examples of cryptocurrency are dogecoin, litecoin, mrai, dashcoin, and many more.

    Bloomberg's classmates also discussed the phenomenon of bitcoin. Why do foreigners like bitcoin? Check out the reviews below.

    1. Ease payment
      For some countries like China, they have difficulty spending their renminbary money abroad because of the policies of the Chinese government itself. This is intended to prevent capital outflow from happening. But for the community itself, this can be a problem for those who travel abroad.

    Cryptocurrency does not have monetary policy restrictions from any country, so it is simpler to use to travel abroad. Using bitcoin does not require a physical transaction, making it easier for customers to transact. Compared to currency where you have to change your rupiah at a money changer first, then cryptocurrency is more reliable

    1. Slowing the growth of bitcoin
      The 'mining' system is basically arranged in such a way that the longer the digital money is obtained, the more difficult. For cryptocurrency like bitcoin, of course it can maintain its value, because demand for digital currency will remain as long as there are merchants who want to use bitcoin as a payment tool.

    2. Increasingly accepted by the global community
      As mentioned earlier, bitcoin has been accepted as a payment instrument. If cryptocurrency continues to be used to buy real goods and services, then demand for this digital currency will continue to be maintained.

    3. Account opening is very easy
      Unlike a bank account that is quite complicated to register, opening an account to accommodate cryptocurrency is very easy. Even the Mrai currency only requires active telegram media. As for bitcoin, each website provides different and more complicated terms, but still not as difficult and as difficult as registering an account with a bank.

    But with all these conveniences, you must be careful about using cryptocurrency as a payment instrument. There are some drawbacks that you must be aware of.

    Not all cryptocurrency can be used as currencies
    Currently, the most easily accepted as a payment tool is bitcoin. If you 'mine' or use other cryptocurrency, then you must be very careful. Don't be fooled by the offer to buy another cryptocurrency.

    Not worthy of investment
    It is true that cryptocurrency capitalization values ​​increase over time. But the fluctuation is very unpredictable because there is no single country that controls this digital currency. Do not let you be consumed by an offer to invest in cryptocurrency. Just use it for ease of payment or as your side income.

    Easy to use for bulging investments
    In the absence of a regulator that controls the digital currency, there are also many bogus investments circulating using cryptocurrency. Ponzi schemes and money games thrive thanks to this digital currency. Be careful of offering investments using cryptocurrency. There is no money that is easy to get.**