Cryptocurrency is the latest way of transferring or making payments. Recently cryptocurrency has gained popularity. It is widely used as a virtual currency to make payments or make transactions.
So you want to invest in Cryptocurrencies. But don’t know where to start from?
In this article, we will discuss everything you need to know about Cryptocurrency and also about what is Morris coin? And is can I say invest in Morris coins?
What is a Cryptocurrency?
A cryptocurrency is a digital form of payment that can be used to exchange money for goods and services.
Many companies have launched their own digital money, known as tokens which they use to trade for goods and services with the company providers. Cryptocurrencies work on a technology called Blockchain.
Blockchain is a decentralized technology that spreads across computers and manages and records the transaction.
How many cryptocurrencies are there in the world?
More than 10,000 different cryptocurrencies are trading publicly according to coin market cap.com, a Market Research website.
The total value of the cryptocurrency in May 2021 was more than $1.7 trillion according to the coin market cap.
Why is cryptocurrency so popular?
Cryptocurrency has become popular for a variety of reasons to currency is seen as the currency of the future and people are buying racing to buy them.
Cryptocurrencies remove central authority from managing the money supply and other benefits of cryptocurrency are blockchain method. It is an entry centralized processing and recording system that is safer than, traditional pay systems.
How are profits generated from Cryptocurrency?
Cryptocurrency is as seen as a good long-term investment. Let us first understand how profits are generated from Cryptocurrencies.
Suppose, you buy a house, farm, or business and never sell it, it will keep on generating profit.
The same goes with buying gold, fiat currencies, or Cryptocurrencies. The prices fluctuate in the market and the fluctuations realize the price of the currency.
If the price rises for the currency, you will be able to gain money. If the currency is stable, you will be able to get currency, better profit in long term but if the currency-locked prices drop, you will face a loss.
What is Morris Coin?
Morris Coin is a multifunctional new generation of Cryptocurrencies. It is developed on blockchain technology to power eCommerce and trading networks and creating a digital and stable medium of exchange.
Morris Coin is known to be the first stable and digital currency, which is exclusively designed for the trading and eCommerce industry.
Morris Coin is known to work on blockchain smart contracts, which will allow parties to make only lawful agreements and execute them properly emphasis on transferring payments, they up to date.
This is a new method of this increase the transparency in the digital exchange supply chain. This is known to create a stable method of exchange.
Can I invest in Morris Coin?
If you are thinking of investing in Morris Coin, you should think about it again.
Morris coin isn’t a real cryptocurrency as they do not use blockchain technology, though they claim to use this technology the reality is different.
Recently the founder of Morris coin, Cryptocurrency has been arrested over allegations of doing a scam to defraud unsuspecting investors.
Is Cryptocurrency legal in India?
No, Cryptocurrency has been never certified by Indian authorities.
If you want to invest your money in Cryptocurrencies, you should have proper information about Cryptocurrencies. Therefore, first of all, research everything about Cryptocurrency.
Secondly, you should be ready for the risk you can gain a high level of profit or loss your own money while dealing with Cryptocurrency.