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The popularity of bitcoin has increased rapidly. It becomes a hot topic for many people. Bitcoin is an example of cryptocurrency or digital money. In this digital era, using digital money in some virtual transactions is something familiar. Many people get interested in investing in cryptocurrency. Though this investment is promising, it still has rules that you consider before buying this digital currency.

What Is Cryptocurrency in the Financial World?

The Definition of Cryptocurrency

Cryptocurrency is digital money and currency used for virtual transactions in the internet network. The secret keys are complicatedly functioning to protect and keep the security of this digital currency. The word cryptocurrency is coming from two words. Those are cryptography meaning to be a secret code and currency being the currency. The cryptography concept is famous since World War II. It is different from the conventional currency centering feature.

This digital currency is featured to be decentralized. It has no sides present and taking a role in a medium in a transaction. The payment with this digital currency is sending the sender to the receiver or peer to peer. However, all conducted transactions are still noted and controlled in the cryptocurrency network system. Mining cryptocurrency is noting this transaction and getting a commission of the used digital currency.

Types of Cryptocurrency

Though it has developed since the 1990s, it has been popular 10 years ago. Some types of used cryptocurrency can be found such as Litecoin, Monero, Ethereum, ripple, and of course bitcoin. Today, it has more than 1.000 cryptocurrency types spread in the world. However, bitcoin becomes the top list of digital currency mostly used. It was created by Satoshi Nakamoto in which he only created 21 million coins based on the appropriate protocols. Furthermore, it has a blockchain system making a transaction of this digital currency. It lasts safely. The blockchain is similar to a big book doing notes on every transaction activity in a working system. It is working decentralized, valid, and a few mistakes. This schema is occurring in the value in which the digital transaction currency is safer, more practical, and easier than a conventional banking system.

Advantages and Disadvantages of Cryptocurrency

Is it safe for investing in cryptocurrency? Before you value them, these are some advantages and disadvantages of cryptocurrency investment. You can make a deal with it.

Advantages

It has the potential of a high price increase in the future.
The blockchain technology makes a payment process of digital currency running safely, quickly, and easily.
It prevents a crime of fake money because a blockchain system is blocking possibilities to do two different transactions.
It saves personal data safely in which you can do financial transactions without showing original identity.

Disadvantages

The risks of law violence possibly happen because a governmental regulation is banned the existence of cryptocurrency
It has high volatility, the changing of the price suddenly
It is difficult to predict currency in the future so that you must be careful to estimate the loss.

Before 2020 goes further, there’s nothing wrong if we are a little nostalgic with a series of old technologies that have been present in our lives, and coloring our teenage years. But over time, he was slowly forgotten until finally destroyed by time. What do you think is the best technology or electronic device in its time that has been dead in the past decade?

The Old Technologies Familiar in the Past, But, Nothing for Now

DVD movie

The generation born in the 80s or early 90s may be familiar with DVD movie player technology. In the past, finding a DVD seller or rental place was very easy. Now? Don’t hope anymore! DVD or Digital Versatile Disc stands or Digital Video Disc was popular in the 2000s. This DVD is a hole-shaped piece in the middle. This object is an optical storage media that is usually used to play films. To be able to watch DVDs, we usually have to buy or rent them at a rental place. DVD had accompanied the teen days in his time, before finally “closing age” because people started switching to online streaming services or to a more compact storage media, namely flash.

MP3 player

MP3 players have also become a technology that was popular in the 2000s. Generally, these objects are flat and long, like a TV remote or air conditioner, complete with its headset. But as time evolves, the media player so the song switches to applications such as Spotify or Joox. Another option that is considered more practical than an MP3 player is to use a cellphone or laptop.

BBM

BBM could be excellent among old technologies literate people, including teenagers, idnplay poker players or students. BBM is considered to have many features that were not previously owned by any chat application, such as the status update feature, changing the display picture, to the PING feature. But over time, chat technology is also growing, and not exclusive can only be accessed on one device such as BBM. Because it was considered slow to be improvised, BBM was forced to close.

Vine

Tik Tok fans might never have heard of Vine. Though Vine is a forerunner service to Tik Tok, which is currently on the rise. Like Tik Tok, Vine allows users to make short videos and popularize them. Many people have become famous for uploading creative videos on Vine. These Vine artists are the same as celebrities on Instagram, or celebrities on Twitter.

Windows phone

Not wanting to be outdone by Google who issued Android and Apple with their iPhones, Microsoft also wants to exist by launching Windows Phone. This phone is made attractive with a colorful display. However, in reality, Microsoft is not smart enough to develop this technology. Evidenced by the application that is not even perfect from the start. Finally, in January 2019, Microsoft officially stopped the Windows Phone service.

Google+

Google+ was created by Google with the aim to rival Facebook social media. Unfortunately, Google’s efforts did not bear fruit. When Facebook sped up so fast, Google+ was devoid of interest. Many people prefer Facebook or even Instagram and Snapchat for social media. Finally, in April 2019, Google+ was officially terminated.

Path

Path, social media bearing the red logo was once popular among teenagers. The path allows users to share photos, locations, to books being read, movies that are being watched, or music that is being listened to. But unfortunately, Path has increasingly been deviated from the vision and mission of the day to provide a private platform for its users. Eventually, many turned to other social media. In 2018, Path was officially excused.