Evaluating The Impact of Cryptocurrency as it Marks a Decade

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Every day we earn and spend cryptocurrency, but we almost never recognize its benefits and advantages. The invention of cryptocurrency complete a decade this year, with its ever memorial first transaction, Bitcoin pizza day being May 22. It's interesting to see how cryptocurrency has impacted millions of people worldwide in the 10 years since it was founded. It has evolved into a tool at the center of progress for so many of us, and as the digital world expands, cryptocurrency stands as one of the best tools available. a tool for a global economy and a form of virtual money.

In the digital world, cryptocurrency has grown to be the most popular democratic currency. By democratic, I mean free and simple to use, since it has leveled the playing field in the financial industry and makes financial services available to anybody with a mobile phone, regardless of status or position.

The way we think about money has altered because of cryptocurrency. We need to first define what money means to each of us personally and as a society in order to appreciate its value. What does money actually signify? It represents a mechanism for us to reach a consensus regarding the worth of anything. A kind of tool for communication that makes it simpler to interact with different people without obstacles.

In light of the aforementioned, cryptocurrency has developed into a bridge that spans the river of disunity that divides clans and villages, towns and cities, nations, and the entire planet. There is no longer a need for the ferry boat because anyone can carry goods wherever they wish to, without anyone getting in the way on the bridge. This is the incredible thing that cryptocurrency has done for us. No matter how much money is involved, it may be moved freely and instantly, which is not possible with the present financial banking system.

The existing financial banking system is oppressive and inflexible. The purpose of the intermediaries is to annoy you and make you pay dearly for the money you provided them to hold for you. It seems as though we are paying them to punish us for handing them custody of our money. You do not need anyone's permission to use cryptocurrency because it is a permissionless currency. You can use your money without filling out any paperwork or providing identification.

In addition to becoming a brand-new currency, cryptocurrency is also a system that was created specifically to function decentralized. This gives us freedom from outside forces who aim to invade our privacy and regulate how we spend our money.

How about monetary value?

We are shielded from the worldwide financial epidemic known as inflation by cryptocurrency. You may be aware of the terrible damage that inflation has done to our generation's purchasing power. Visit nations like Venezuela, Mozambique, Seychelles, or even Nigeria, my own country.

People's savings are devalued as money is printed. When there is an excess of money in circulation, wealth loses its worth. I believe that majority of the people who have the guts to keep their funds in crypto will have a better understanding of this. The majority of world currencies are pegged to the US dollar; if the value of the dollar declines, so does the value of those currencies. The world is currently dealing with this, but because of cryptocurrency, we are immune to this financial plague.

You should be aware of the fact that your crypto assets are not in any way related to the value of the dollar, even though you see it decimated by it in your wallets. The value of the dollar whether it collapse or not cannot affect your crypto assets whatsoever. Crypto value is derived by its users; the more people use and hold it, the more valuable it gets. it is not determine by the America or China money economic valuation.

I'm sure you're thinking of the store of value aspect of cryptocurrency, which is very popular in several news outlets you can find online. Yes, cryptocurrency is a utility currency as well as a store of value. Peer-to-peer money, or digital money, is money designed to be transferred electronically from one person to another.

All of us keep our fiat money in the bank for other reasons than to see if its value would rise, which it will never do. We keep it there because we don't want to use it now, but we will never be able to get it back at the value we gave it to keep. With time, its value fades away. Thankfully, as time passed, your crypto can increase in value. The technology behind several mainstream cryptocurrencies ensure their floor price maintain a sustainable value.

There are already an estimated 6.92 billion smart phone owners in the world with nearly 2.0 billion who do not have access to any financial services. This information may come as a shock, but it is true. Since practically every youngster under the age of 14 now owns a smartphone, even young people have the opportunity to benefit from the global financial boom.

What makes cryptocurrency so potent is that it enables everyone to participate in the system and the global economy as long as they have a smartphone and access to the internet. Millennials will be the next generation of millionaires thanks to crypto. What the government takes away from us, the freedom to own and use money, regardless of age or gender, Satoshi Nakamoto handed it back to us by inventing Cryptocurrency.

There is potential everywhere, but in a world where everything is entirely centralized, very few people get the chance to succeed. It doesn't matter where you were born in a world where this technology has fully changed and is accessible to everyone; the global economy is crucial.

With your abilities and knowledge, you may contribute to the global economy with nothing more than a cell phone and internet access. Anyone with skill has a platform to flourish thanks to cryptocurrency, and you might also flourish thanks to it. On the Hive network, you can build businesses, create your own token, and market it globally.

Imagine what kind of economy we would have if cryptocurrency became a global currency that we are responsible for and all invested in. That's an open door for everyone. cryptocurrency is a treasure that we must preserve, a treasure that enables us to invest in each other successes. This is the idea behind the sharing and giving in the Hive community, an investment in human beings.