When common people are confused as to whether or not cryptocurrency is here to stay, most of the investors and analysts are trying to scale a different aspect of this query. Why shouldn’t you buy into centralized cryptocurrencies? By centralized cryptocurrencies we mean transactions that involve a third party, transactions perceived to be safer and securer, however with a number of drawbacks. Let us look into some reasons for why shouldn’t you buy into centralized cryptocurrencies.
Why Shouldn’t You Buy Into Centralized Cryptocurrencies
Does it throw a fear vibe into your spine when you think of how Facebook handled sensitive user data, or how Amazon uses it for eliciting a position to their own advantage? Well, it does, and it does this to most of all. And this is one of the biggest disadvantages and the reasons why shouldn’t you buy into centralized cryptocurrencies!
Although centralization has gotten a huge chunk of worldwide attention at the moment, that is only due to the ease and the security a new investor feels with this type of settlement. The crypto wave is getting to more and more of us, and when we do not know much about it, we look for the easiest ways possible. Centralized cryptocurrencies come in handy at such times, but little do we know that we pay a lot more for the same transactions than we would have paid if we had gone in for a direct decentralized transaction in cryptocurrency. Rather, it is better to hire consultants like executium.com to help us learn to trade in decentralized media, rather than shed our money here at centralized platforms for cryptocurrency transactions. The former is a one-time investment and you get permanent wings to trade on your own. Most of the people who are into crypto trading regularly and have long preferred to trade in this manner.
Last but not least, you would have heard that it is tough to survive in the crypto niche, that the transaction fee for crypto is usually very high, that most of the new entrants in crypto investments fail while only some are able to make it, and alike! What is the reason? There is not one in all, but one only if we talk of the primary one. And that is centralization. The exchanges, or whatever media you use, work for their own benefit. In an exercise to make out the maximum profits for themselves, they squeeze the stakeholders to the maximum possible. And that is where most of us lose out. We are thrown off the crypto track even before we begin due to the higher costs and many times losses involved as a reason for centralization. Why not avoid it when we can!
Wrapping it up….
In the end, I would like to say that it is not absolutely bad or wrong to go in for centralization, but this practice must be avoided and decentralization must be preferred wherever it is possible. It is a wastage of money to spend so much extra on a centralized trading mechanism, when you can do the same with decentralized platforms as well. Executium.com is a reverberant name in this regard to train you well.