What is digital money?
Most of us use traditional money (paper currency) for daily shopping at stores. Though the use of debit/credit cards has also become an integral part of life yet traditional currency works. However, the world is rapidly heading towards digital money that includes cryptocurrencies, virtual currency, and digital assets. We define it as the asset or money that is stored and managed by computers and is not in your hand. Although you have complete control over that to spend. In this article, we will discuss cryptocurrencies.
Importance of cryptocurrency
Cryptocurrencies have great importance in the economy as well as in an individual personal life. Because this is a highly volatile asset and can earn you high profit in a short time. Crypto prices have increased dramatically since March 2020. The price of Bitcoin has surged from $5,000 to $61,800 in the span of a year. So, you can well imagine how much this market has grown. Moreover, Bitcoin has crossed 1 trillion dollars asset which is something huge. The following are the other things that make cryptocurrency important.
- Very quick and fast transactions
- Secure and facilitates worldwide
- There are no central regulations or under a central bank
- Demand and supply controls the prices
How can I trade digital currency?
Well, as I have mentioned above that cryptocurrencies are not under a central bank. So, to trade these currencies you will have to use one of the best-decentralized crypto exchanges. What are the best and largest crypto exchanges? The following are the two major exchanges in the world that give you access to almost every prominent cryptocurrency.
Create your account on any of these exchanges by click on each, buy a cryptocurrency and start trading to earn a good profit.
Are Binance and Coinbase the best crypto exchanges?
To be very honest, these both exchanges are leading the crypto world. Binance is the world’s largest exchange as well as number one on the ranking list. While Coinbase is also managing a huge number of users and assets worth billion dollars. Moreover, Coinbase gives you a free $10 reward upon registration. These both are highly safe and secure and provides you a variety of trading options. So, make your account today and step into the crypto world.
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