khaleejtimes

Sunday, May 22, 2022 | Shawwal 21, 1443

prayer time in uae prayer time in uae 00:00:00

UAE

  • Crime
  • Education
  • Expo 2020
  • Government
  • Legal
  • Transport
  • Weather
  • Emergencies
  • Dubai
  • Abu Dhabi
  • Sharjah
  • Ajman
  • Ras Al Khaimah
  • Fujairah
  • Umm Al Quwain

Life and Living

  • Visa & Immigration in UAE
  • Banking in UAE
  • Schooling in UAE
  • Housing in UAE
  • Ramadan 2022

World

  • Saudi Arabia
  • Bahrain
  • Oman
  • Kuwait
  • Qatar
  • MENA
  • India
  • Pakistan
  • Philippines
  • Americas
  • Europe
  • Africa

Opinion

  • Columnists
  • Editorial

Business

  • Auto
  • Aviation
  • Corporate
  • Cryptocurrency
  • Markets
  • Economy
  • Finance
  • Energy
  • Infrastructure
  • Property
  • Start-Ups
  • Telecom
  • Tech
  • Currency Exchange
  • KT-Network

Sports

  • Cricket
  • Football
  • F1
  • Golf
  • Horse Racing
  • Tennis

Entertainment

  • Movies
  • OTT
  • Music
  • Local Events
  • Newsmakers

Dubai World Cup

  • Primer
  • Flashback
  • Columns
  • Track Notes
  • Big Numbers
  • Daily Updates
  • Videos

lifestyle

  • Arts & Culture
  • Beauty
  • Design
  • Fashion
  • Food
  • Health
  • Home
  • Mental Health
  • Parenting
  • Relationships
  • Shopping
  • StayHome
  • Wellness

Travel

  • Staycations
  • Vacations
  • UAE Attractions

Reviews

  • Tech Reviews
  • Motoring Reviews
  • Movie Reviews
  • Book reviews
  • Restaurant Reviews

Brands

  • City Times
  • WKND
  • Young Times
  • BRB
  • SHE
  • Metrolife
  • Buzzon
  • KT Filme
  • KT Gamez
  • BTR

Supplements

  • DET – Business Excellence Awards
  • Italy
  • Ramadan Cookbook
  • Ramadan Fitness
  • BTR
  • Museum Of The Future
  • Top Universities
  • Dual Citizenship
  • Pakistan Resolution Day
  • China Watch
  • Ireland
  • International Women’s Day
  • ICV Certification
  • Health and Fitness
  • SHE
  • KT Engage
  • Metrolife
  • Inspired Living
  • Travel

KT Events

  • India Real Estate Show
  • Future Of Insurance
  • KT Desert Drive
  • Hybrid Workforce Summit
  • UniExpo International
  • New Age Finance & Accounting Summit
  • Digital Health Forum
  • DigiBank
  • FutureSec
  • Artelligence
  • UniExpo
  • DigiPay
  • Future of Smart Cities
  • Global Investment Forum
  • Subscriptions
  • UAE Holidays
  • Expo 2020
  • Year of the 50th
  • Offbeat
  • Tech
  • Motoring
  • Community
  • Long Reads
  • eMagazines
  • eWKND
  • Photos
  • Podcasts
  • Videos
  • Gold/Forex
  • Prayer Timings
  • Cinema Listings
  • Weather
  • E-Paper
  • Buzzon
  • Inspired Living
  • About Us
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Sitemap

KT APPDOWNLOAD

  • apple iPhone | iPad
  • android Android
  • huawei Huawei
Sheikh Khalifa Covid-19 UAE World Opinion Business Sports Entertainment Food Lifestyle Gold/Forex Supplements KT Engage Prayer Timings

Why are cryptocurrencies so popular today?

Dubai



By Ankita Singh

Published: Tue 19 Apr 2022, 10:28 AM

A few years ago, if you had mentioned "cryptocurrency" to a friend, they would have imagined some kind of underworld banking system, with hooded traders sitting behind large computers. Today, you hear about it not only in your daily business news, but you even see the term bitcoin or crypto on the front pages of leading publications.

That's because companies like Uber and eBay are joining a list of several household names that are scurrying to embrace cryptocurrencies. Earlier, the ride-sharing company, Uber said it would "absolutely" accept bitcoin (and other cryptos) "at some point" in the future, while eBay, which already accepts NFTs, may start accepting crypto payments soon.

As crypto attracts more organizations and their customers, governments around the world are trying to put regulations in place to make it easier for crypto companies to carry out their businesses while safeguarding investor interest at the same time. Recently, the UAE adopted its first law to regulate virtual assets, which could attract some of the world’s biggest crypto companies to the region.

But for some of us, who are still wondering if the correct term is "cryptocurrency?" Or should it be "digital currency"? "Virtual asset"? Whatever we call it, do cryptocurrencies, really deserve this much attention, and why?

What is it again?

Cryptocurrencies are a new financial system that aims to replace paper currency or become an investment asset. It's given most people, and especially those who've never invested in traditional assets, an opportunity to earn income by buying and selling cryptocurrencies.

Unlike traditional currencies, crypto doesn't have a governing body like a central bank or a monetary head, meaning it's completely decentralized. Rather a community of people who are connected by a computer network transfer data between each other without the need for a central server. In doing so, this peer-to-peer community manages the transactions.

Why are cryptocurrencies so popular today?

Easy to use: The origin of cryptocurrencies may sound confusing but when it comes to using them, it's very easy to get in. To begin with, you can buy cryptocurrencies from a crypto exchange, like BitOasis, which is also available on any device connected to the internet. Once you get cryptocurrencies, you can use them to make payments, receive money or use it as an investment.

Unique purpose: Most cryptocurrencies owe their popularity to Bitcoin, which has the widest brand recognition among all cryptocurrencies. Today, there are close to 10,000 "altcoins" or alternatives to bitcoin, and most of them have tried to improve Bitcoin. Each crypto project aims to solve a particular problem faced by a particular community. Litecoin is a cryptocurrency that is popular among people looking for faster payment settlements as it confirms transactions faster than Bitcoin. Another altcoin, Monero, focuses on the privacy aspect, making transactions impossible to trace.

Minimum investment: Of late, the general level of prices is going up across the globe, and at the same time, people fear that the value of traditional or "fiat" currencies will decline. So instead of saving money in banks, more people are now interested in investing in assets that have long been invaluable, like gold, real estate, stocks, and now cryptocurrencies. But there are other limitations like understanding commission and management fees when buying Apple or Meta stocks for example. And precious metals and property deals require a huge amount of capital.

Crypto requires minimum investment and some basic research to get started. In fact, you can buy a minimum of a dollar's worth of crypto on exchanges like BitOasis instead of buying 1 entire bitcoin, for instance. Additionally, when it comes to portability and storage, you can store cryptocurrencies for free on cryptocurrency wallets that are safe and easy to manage.

In conclusion

As you can see, cryptocurrencies are more convenient to store, move and use than precious metals, real estate, and other investment assets, making them more popular than ever before. To learn more, visit BitOasis, the region's most trusted crypto exchange to buy, sell or store cryptocurrencies.

  • Cryptocurrency
  • Dubai
khaleejtimes footer
©2022 Galadari Printing and Publishing LLC. All rights reserved.

UAE

  • Crime
  • Education
  • Expo 2020
  • Government
  • Legal
  • Transport
  • Weather
  • Opinion
  • Prayer Timings

World

  • Saudi Arabia
  • Bahrain
  • Oman
  • Kuwait
  • Qatar
  • MENA
  • India
  • Pakistan
  • Philippines
  • Americas
  • Europe

Business

  • Auto
  • Aviation
  • Corporate
  • Cryptocurrency
  • Markets
  • Economy
  • Property
  • Start-ups
  • Tech
  • Currency Exchange
  • Gold and Forex

Sports

  • Cricket
  • Football
  • F1
  • Golf
  • Horse Racing
  • Tennis

Entertainment

  • Movies
  • OTT
  • Music
  • Local Events
  • Newsmakers
  • UAE Cinema listings

lifestyle

  • Art & Culture
  • Beauty
  • Design
  • Fashion
  • Food
  • Health
  • Home
  • Mental Health
  • Parenting
  • Relationships

Multimedia

  • Videos
  • Photos
  • Podcasts

About us

  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Sitemap

KT APP DOWNLOAD

  • apple iPhone | iPad
  • android Android
  • huawei Huawei
khaleejtimes buzzon
khaleejtimes citytimes
khaleejtimes competitions
khaleejtimes epaper
khaleejtimes inspired
khaleejtimes jobs
khaleejtimes Subscription
khaleejtimes wknd
khaleejtimes young times
khaleejtimes

Type your keywords