Throughout the world, we use a currency that is paper or coin based. This system was born over 500 years ago because traders at the time were having a hard time conducting business, so they needed something that could represent the value of their goods but be easy to carry.
It was not feasible for someone to take a cow to the market and come back with a bag of corn.
Thus, paper and coin currency were born, which we use now to reduce the burden.
LEARN ABOUT BITCOIN:
After a long time of paper currency lasting more than 500 years, a new system of Cryptocurrency has been born that has no borders in international money transfers.
This new Cryptocurrency system is like it has come to correct the mistakes of the current system of money that is not easy to send money internationally, and if you succeed in sending money internationally, be prepared to use high costs, which will result in many deductions to reach the target.
The new system of money that has come is a system that has no high costs in international transactions, it is also a system where the transaction is verified within 10 minutes compared to the current system, which takes more than three days to reach the target.
The new system does not have a middleman, meaning that there is no one to control it, that is why we call it a Decentralized System with the characteristics of Peer to Peer (P2P).
The new system is open, making it difficult to engage in double spending as is seen in the current financial system.
What do you need to know about the current system to benefit more from it and what are its disadvantages?
These are Important Things to Know Before Entering Crypto.
1. Learn
By learning, I mean, seeking accurate information for as long as you were studying in school.
2. Do not listen to opinions that only tell you about the benefits.
Many people give information to others about only good Cryptocurrency, ignoring the challenges. Be sure to know the challenges too.
3. Start by preparing your mind to know that Crypto is life.
Many people enter Crypto with the mindset that Cryptocurrency is a place to get rich but in reality, Crypto is life.
Remember: The goal is not to compete, the goal is to overcome poverty.