What affects the value of cryptocurrencies
Several cryptocurrencies are based on several blockchain-based system. So, there are many factors what are influencing the price of any cryptocurrency. First of all, I would like to to mention the reason of the core issues of cryptocurrency. For example, steem price will be influenced by its value addition to the platform steemit. If the users of steem blockchain can do better and contribute more for the blockchain development through their blogging and high-quality content, the price of steem will be automatically high. And in the two way the cryptocurrency which is based on which system of blockchain that is the key indicator of the price change that is the fundamental analysis. There are some other reasons behind the price change of cryptocurrencies like reumer, price change of other currencies, changing the condition of the market, reducing the use of it, changing the costing of mining and many more.
Source: Image by Benjamin Nelan from Pixabay
Why cryptocurrency transactions be called more transparent
Cryptocurrency transaction is so much transfer and because anyone from the any part of the world can see the transaction. The transaction is open for everyone and it will not be deleted. As it is in the blockchain forever and open for everyone so it is much more transparent. On the other hand, as you are maintaining your transition so there is a less chance of making any fault during transition. Who can see sometimes banks making mistakes and transfer to the wrong people? And in that case customer had to go to the banks for several times to rectify this transaction although he is not responsible for the mistake. For blockchain Ledger and as it is open for everyone to check it out that's why I think it is very much transparent.
Source: Image by xresch from Pixabay
Development of cryptocurrency in my country
I don't know much about the cryptocurrency and its development and adoption about in my country Bangladesh. I can see a number of people are using this steem blockchain. This is basically a blogging platform where people are gaining money in the form of steem for making effort on creating quality content. It is one kind of freelancing activities because here those who are contributing to the platforms, they are getting some money in the form of steem. There may be some other uses of cryptocurrency of other platforms or other techniques but I don't have much knowledge on it. There may be some restriction by the government due to the money laundering issues.
But still, it is a condition where much more people are not aware about this modern technology where in our neighboring countries like India, we can see many of the talking are going on these issues of accepting or rejecting cryptocurrency. The blockchain technology has a lot of advantages for the benefit of the technological era and the security purposes well.
Source: Image by WorldSpectrum from Pixabay
So, in that case many countries are adopting blockchain Technologies and trying to you used the positive benefits of the blockchain. I hope Bangladesh will think more about the blockchain technology and its adoption and if there are some experts they will talk about these issues and how to implement it for what's the positive features of it we can use for the betterment of the country. But still, I can see a few of the people from my country are using blockchain.
And I have talked with number of friends and most of the cases I have found that there are not aware of it and they don't know ABC of it even as well. So that's why it is really important to educate people about the things and then we shall able to discuss about the positive and negative issues if the negative issues is high then it will be rejected but if the positive issues are then it should be accepted by the many.
Who I am
This is Sayful
Ex Banker
Part time blogger
By Profession Lecturer
Fasinated by Nature and Cricket
Day dreamer and a round pig in square hole
Write on Textiles, Online Money Making, Agriculture & Technology
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Ex Banker
Part time blogger
By Profession Lecturer
Fasinated by Nature and Cricket
Day dreamer and a round pig in square hole
Write on Textiles, Online Money Making, Agriculture & Technology
Upvote, Reblog and Follow me on hive @engrsayful
This is Saiful’s Classroom from @engrsayful
Find me on
Posted Using LeoFinance Beta
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