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Why is crypto such a hype

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There are many reasons why cryptocurrencies have been such a hype in the past years. They give you access to a universe you cannot access in any other way, while others see it as an investment.

We are going to introduce you to what cryptocurrencies are and how they work. Furthermore, we are going to discuss why and how people invest, as these investments can be used when covering the spread at a crypto casino or to invest in art.

The definition of cryptocurrency:

Cryptocurrency is a digital currency built on blockchain technology. Essentially, cryptocurrencies are decentralized digital money or assets that can be used by anyone and sent freely and directly between people as long as they have access to the internet.

The data kept on the blockchain is protected via cryptography. Cryptography has been a topic for a very long time before the Internet ever existed. It is used everywhere on the Internet to ensure safe communication and that information does not fall into the wrong hands. You may also recall from vintage spy movies that the characters exchange encrypted communications, which can only be deciphered in order to read them.

Why do people invest in crypto?

People believe that blockchain and crypto will be a part of the future, and they see it as an opportunity to invest in new and exciting technology. Over the last 30 years, we have witnessed a revolution in the digitization of knowledge and communication. Many believe that the financial system is next in line.

The enthusiasm for Bitcoin arose because people saw a need for a global currency that was not controlled by any central banks, politicians or public bodies. This is a system where the rules are enforced by computer code rather than by people with power and influence. Due to high inflation and political unrest in many countries, such an asset can provide some protection against social upheaval. There is no guarantee of future returns, but it must be mentioned that over the past decade, Bitcoin has been the best investment of them all. In front of Apple, in front of Amazon and more. Many people assume that Bitcoin and the crypto market still have a lot of room to grow because this is still a tiny market compared to traditional markets such as the gold market or the stock market.

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