Before Investing, Know What Is Crypto?

Rtvassen.comBefore Investing, Know What Is Crypto? – The year 2020 ago, precisely in March was the beginning of the emergence of the Covid-19 pandemic in Indonesia. At that time all sectors including sectors were affected by the spread of the virus.

One of them in the economic sector, especially those related to investment experienced drastic changes, many stock prices fell. However, for some people the situation has a positive impact. Especially for people who understand investing, they will buy shares in large quantities.

Since then the investment trend has also increased. Many people began to learn and find out about investment instruments, ranging from gold, stocks, mutual funds, to cryptocurrencies. Investing in cryptocurrency assets is quite popular lately. Some people are also curious about the trend of investing in cryptocurrency assets, for more details, see the following description.

What is Cryptocurrency?

Cryptocurrency itself is currency in virtual form. Cryptocurrencies can be used to make transactions from one person to another virtually or online because this currency has been used by cryptography.

Cryptocurrency is not only popular in Indonesia, but also abroad. As evidenced by the percentage by Statista of cryptocurrency ownership in February 2020, there are 10 countries recorded that their people have large amounts of cryptocurrency.

Based on this percentage, Nigeria has the highest percentage, namely 34 percent, while the Philippines and Vietnam have 20 and 21 percent.

Cryptocurrency Functions

The main function of cryptocurrency, of course, is to invest. Investing in cryptocurrencies can be very profitable, especially if the price continues to increase rapidly. Apart from investing, cryptocurrencies can also be used to buy goods and services. You can make payment transactions at hotels, bars, restaurants, applications, and others. This is because some shops have started to enforce cryptocurrencies.

The last is mining or mining. For cryptocurrency users, solving complex cryptographic puzzles can earn you rewards for making transactions using cryptocurrency.

That’s some information about what crypto is, hopefully it can help you when using cryptocurrency.

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