Which crypto currency management service do you recommend
Fall of cryptocurrencies
Does an investment in digital money make sense?
An investment in digital money is, let's call it their name, an investment in hot air. Because: there is simply no real value behind it. No company buildings, no vehicle fleet, no sales, no profits, no interest and no dividends. The fact that cryptocurrencies are not regulated by the financial supervisory authorities should also make anyone interested. As of today, cryptos are no real currencies, no legal tender and therefore above all objects of speculation. When there are high profits, fraudsters are usually not far away. Onecoin is cited here as an example of a presumably digital currency, but ultimately it turned out to be a pyramid scheme and caused damage of over four billion US dollars.
Bitcoin, or BTC for short, is often referred to as the mother of all digital currencies and, in terms of market capitalization, is the clear number 1 among crypto currencies. It does not exist in the form of coins or bills, it only exists virtually. Apart from the sometimes irrational fluctuations in exchange rates, it is nevertheless extremely attractive, especially for the younger generation. Because instant transactions can be carried out via so-called Lightning Networks. Firstly, these run at speeds of less than a second. Second, the sender and recipient are independent of the provider, i.e. without the interposition of a bank, credit card company or other payment services such as PayPal. Thirdly, this reduces the data associated with the transaction to an absolute minimum and protects privacy much better. However, with the virtual payments, the energy consumption increases due to the technical requirements. The Deutsche Bundesbank has calculated that a single Bitcoin transaction corresponds to the monthly electricity consumption of a single family home. So Bitcoin can hardly claim to be environmentally friendly, sustainable or green.
Even if cryptocurrencies have no intrinsic value: Central banks and governments have recognized that there is a certain trend. Libra, launched by Facebook, has done the rest to make virtual currencies not yet socially acceptable, but at least make them a hot topic of discussion. The European Central Bank is testing a digital euro and wants to decide on its introduction in summer 2021. However, not as a cash substitute, but initially only as a supplement.
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