The document provides an overview of cryptocurrency, detailing its definition, history, and operational mechanics, as well as its advantages and disadvantages. It highlights the potential for cryptocurrencies to disrupt traditional financial systems, emphasizing their benefits such as decentralization, security, and accessibility, while also addressing challenges like volatility and regulatory concerns. The conclusion suggests that while cryptocurrencies present significant opportunities, investors must remain aware of the associated risks.
The document provides an overview of cryptocurrency, detailing its definition, history, and operational mechanics, as well as its advantages and disadvantages. It highlights the potential for cryptocurrencies to disrupt traditional financial systems, emphasizing their benefits such as decentralization, security, and accessibility, while also addressing challenges like volatility and regulatory concerns. The conclusion suggests that while cryptocurrencies present significant opportunities, investors must remain aware of the associated risks.
The document provides an overview of cryptocurrency, detailing its definition, history, and operational mechanics, as well as its advantages and disadvantages. It highlights the potential for cryptocurrencies to disrupt traditional financial systems, emphasizing their benefits such as decentralization, security, and accessibility, while also addressing challenges like volatility and regulatory concerns. The conclusion suggests that while cryptocurrencies present significant opportunities, investors must remain aware of the associated risks.
The document provides an overview of cryptocurrency, detailing its definition, history, and operational mechanics, as well as its advantages and disadvantages. It highlights the potential for cryptocurrencies to disrupt traditional financial systems, emphasizing their benefits such as decentralization, security, and accessibility, while also addressing challenges like volatility and regulatory concerns. The conclusion suggests that while cryptocurrencies present significant opportunities, investors must remain aware of the associated risks.
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AGENDA
INTRODUCTIOn TO CRYPTO CURRENCY
HOW IS IT IS WORK HISTORY AND BACKgROUND OF CRYPTO CURRECY STEPS INVOLVED IN CRYPTO CURRENCY FUTURES AND POTENTIAL OF CRYPTO CURRENCY CHALLENGES OF CRYPTO CURRENCY ADVANTAGES OF CRYPTO CURRENCY DISADVANTAGES OF CRYPTO CURRENCY Significance and Growth of Cryptocurrency conclusion INTRODUCTI On TO CRYPTO CURRENCY A cryptocurrency is a digital currency, which is an alternative form of payment created using encryption algorithms. The use of encryption technologies means that cryptocurrencies function both as a currency and as a virtual accounting system. Unlike traditional currencies issued by governments and central banks, cryptocurrencies operate on decentralized networks based on blockchain technology .some of the most popular types of cryptocurrencies such as Bitcoin, Litecoin, and Ethereum. Cryptocurrencies are increasingly popular alternatives for online payments. Before converting real dollars, euros, pounds, or other traditional currencies into ₿ (the symbol for Bitcoin, the most popular cryptocurrency), Symbo l of bit coin HOW IS IT IS work? Cryptocurrency transactions occur through electronic messages that are sent to the entire network with instructions about the transaction. The instructions include information such as the electronic addresses of the parties involved, the quantity of currency to be traded, HISTORY History and AND BACKROUND background of OF CRYPTO crypto currency CURRENCY The first cryptocurrency was created by Satoshi Nakamoto, the pseudonym for an anonymous computer programmer or group of programmers, on January 3, 2009, when Bitcoin software was made available to the public. The software would release some 21 million Bitcoins after its release to the public. People seeking. Bitcoin's creation was inspired by the 2008 financial crisis, which highlighted the need for an alternative to Steps involved STEPS in crypto currency INVOLVED IN CRYPTO 1.Alice sends instructions to transfer crypto currency to Bob. Anyone using the network can view the message. 2.Miners group the transaction together into a 'block’ with other recently sent transactions 3.Information from the new block is transformed into a cryptographic code. FUTURES FUTURES AND AND POTENTIAL OF POTENTIAL OF CRYPTO CRYPTO CUREENCY CUREENCY Cryptocurrencies have the potential to fundamentally alter the way we use money in 2023 and beyond. Because of its decentralization, transparency, cheaper transaction fees, faster transactions, and global accessibility, it is a desired alternative to traditional currencies. Cryptocurrencies, which operate on a decentralized network and are not governed by governments or financial institutions, offer more financial stability and security. This is where the transparency of the public ledger can help in the battle against fraud, money laundering, and other illicit conduct. According to Statista, the Indian cryptocurrency market is projected to reach $222.70 million by 2023. Furthermore, with the growing traction, the global accessibility of cryptocurrencies might be especially beneficial for those in developing nations, where traditional banking infrastructure may be restricted or non-existent. Thus, as per the trends, ADVANTAgES OF CRYPTO CURRENCY TRANSACTION PRIVACY SECURITY SPEED
Inflation Transparency Diversification protection
Transaction Accessibility costs Transaction speed If you want to send someone money in the United States, there are few ways to move money or assets from one account to another faster than you can with cryptocurrency. Most transactions at U.S. financial institutions settle in three to five days. A wire transfer usually takes Transaction costs The cost of transacting in cryptocurrency is relatively low compared to other financial services. For example, it's not uncommon for a domestic wire transfer to cost $25 or $30. Sending Accessibility Anyone can use cryptocurrency. All you need is a computer or smartphone and an internet connection. The process of setting up a crypto currency wallet is extremely fast compared to opening an account at a traditional financial institution. There's no ID verification. There's no background or credit check. Security Unless someone gains access to the private key for your crypto wallet, they cannot sign transactions or access your funds. However, if you lose your private key, there's also no way to recover your funds. Privacy Since you don't have to register for an account at a financial institution to transact with crypto currency, you can maintain a level of privacy. Transactions are pseudonymous, which means you have an identifier on the blockchain -- your wallet Transparency All crypto currency transactions takes place on the publicly distributed blockchain ledger. There are tools that allow anyone to look up transaction data, including where, when, and how much of a cryptocurrency someone sent from a Diversification Cryptocurrency can offer investors diversification from traditional financial assets such as stocks and bonds. While there's limited history on the price action of the crypto markets relative to stocks or bonds, so far the prices appear uncorrelated with other markets. That can make them a good source of portfolio Inflation protection Many see Bitcoin and other cryptocurrencies as offering protection against inflation. Bitcoin has a hard cap on the total number of coins that will ever be minted. So, as the growth of the money supply outpaces the growth in the Bitcoin supply, the price of Bitcoin ought to increase. There are numerous other cryptocurrencies that use mechanisms to cap supply and can act as a DISADVANTAG ES OF CRYPTO CURRENCY Cryptocurrency Scaling Problems Crypto Value and Exchange Security Volatility
Worries About Lack of Proper Changing Regulation Technology Scaling Problems The problems of scale in cryptocurrency lie in their infrastructure and technology in this area has much room for improvement. Although improvement is ongoing, and of an evolving nature, claim embracers of cryptocurrency, it Crypto Exchange Security Cryptocurrency relies heavily on digital technology. As a result of this, it is open to breaches in cybersecurity. Among some worries over dealing with any crypto currency is the fact that accounts can be hacked into. There is already living proof of this with reports of hacking into many ICOs, costing individuals millions in dollars. The security infrastructure, thus, has to be controlled and managed better than it currently is. Traditional banking security Cryptocurrency Value and Volatility Crypto currency in india has taken over the young and old investor’s mind with vivid thoughts of making promising returns. While many investors are riding the wave of cryptocurrency, there are several who are finding out that cryptocurrency prices tend to be prone to a degree of volatility. This is because cryptocurrency exhibits some lack in its innate value, as the digital currency is not Lack of Proper Regulation The experienced investor stressed on the lack of any regulatory authority controlling assets in this market. Due to the apparent lack of any supervisory management, the system is bound to “implode”, to quote the word that Buffet used. You may perfect the inherent technology, but unless a regulatory Worries About Changing Technology There are particular logistical problems of trading in cryptocurrency in India, and the world over. These are largely connected with the technology that the digital currency involves. For instance, when the technology related to cryptocurrency needs to SIGNIFICATION AND GROWTH OF CRYPTO CURRENCY Cryptocurrencies represent a groundbreaking innovation in the financial industry. They offer a new way to store, transfer, and CONCLUSIO conclusion N The future of cryptocurrency The future of cryptocurrency holds holds vast potential for vast potential for disruption and disruption and innovation innovation in the financial sector. in the financial sector. While cryptocurrencies offerWhile crypto currencies advantages offer such as decentralization, advantages security, such as investors and accessibility, decentralization, must know the market’s security, volatility and associated risks and accessibility, investors
