Cryptos have been making headlines for their meteoric rise over the past few months. In fact, virtual currencies such as Bitcoin and Ethereum have skyrocketed in value by over 400% in the past two years alone. That’s a lot of gains for any virtual currency, let alone one that is still relatively new and uncorrelated with national fiat currency.
However, virtual currencies like Bitcoin and Ethereum are not like regular currencies. They are not backed by a country or an institution, like the U.S. Dollar or the Euro. Instead, they are “cryptocurrencies” which means they are based on an algorithm and a set of rules rather than a government or bank. This article will give you good reasons why you should start playing online crypto slot games today if you want to increase your digital asset portfolio and revolutionize your personal finance habits at the same time.
You Can Trade Any Cryptocurrency Anywhere
When it comes to trading virtual currencies, most countries have some form of regulation in place. This means that you can’t just hop onto an airplane and travel to another country and buy a bunch of cryptocurrencies with dollars. Even if you had access to that country’s money, you would probably be breaking the law. That’s not the case with trading forex or stock markets.
You can buy and sell forex and stocks anywhere in the world without a license or any other restrictions. As a result, you can trade a wide range of global assets without having to worry about how you’re going to pay for it or the risk of getting arrested. You can even trade stocks and futures against each other without having to worry about who wins the trade and how they might steal your cryptocurrencies.
Your Virtual Crypto Winnings Can Grow Even Bigger
One of the main advantages of playing cryptogames using virtual currencies like Bitcoin and Ethereum is that they are risk-free investments. You don’t have to take on any risks like you would with a traditional investment, and you know that your investments will increase in value if/when the market goes up.
This is what makes virtual currencies so attractive. They are essentially a guaranteed return on your investment. You can put as much money into a virtual currency as you like, and it will be invested by real people with real money. And the best part is, if you want to cash out your investment at any time, you can do so without losing any of your original investments. This is how virtual currencies are different from most traditional investments.
They’re Built On Blockchain Technology
One of the most exciting things about cryptocurrencies is that they are: “…the first decentralized digital currency and payment system to eliminate central banks” This means that they are not controlled by any one entity or organization, and are instead controlled and operated through a decentralized network of computers across the internet.
In this regard, cryptocurrencies are actually more centralized than traditional fiat currencies like the Euro or the U.S. Dollar. That said, cryptocurrencies are decentralized in another sense as well. As is the case with every new technology, there will be risks associated with it. Blockchain technology is no exception.