News

4 Reasons why you should go for cryptocurrency

3 Mins read


By Our Reporter

The global economy is moving towards a digital ecosystem. From investment to money transfer, everything is going paperless and intangible. The newest and most promising addition to the digital payment sector is cryptocurrency and there is no doubt it is going to become bigger and bigger as the years go by.

A cryptocurrency is a medium of exchange like normal currencies such as USD or Ugx, but designed for the purpose of exchanging digital information. Cryptocurrency is defined as a decentralized digital or virtual currency that uses cryptography for security.

Over the last couple of years, digital currency has been rapidly gaining the public eye. Here are some good reasons behind it.

Fraud-proof: When cryptocurrency is created, all confirmed transactions are stored in a public ledger. All identities of coin owners are encrypted to ensure the legitimacy of record keeping. Because the currency is decentralized, you own it. Neither government nor bank has any control over it.

Instant Settlement: Blockchain is the reason why cryptocurrency has any value. Ease of use is the reason why cryptocurrency is in high demand. All you need is a smart device, an internet connection and instantly you become your own bank making payments and money transfers.

Accessible: There are over two billion people with access to the Internet who don’t have rights to use to traditional exchange systems. These individuals are clued-in for the cryptocurrency market- you too could join the trend with Yellow Card.

You are the owner: There is no other electronic cash system in which your account is owned by you.

Bitcoin was the first decentralized cryptocurrency introduced in 2009. Bitcoin uses the blockchain technology and has outperformed gold generating a 155% annualized gain over gold’s 6% annualized loss over the last 5 years. Its price in July 2010 at 0.06/coin USD is now worth over 4000.00/coin USD today, making it one of the biggest investment phenomena in modern history. Since 2009 blockchain technology has gained momentum. Not only because of the tremendous spike in Bitcoin’s worth, but also ..

Wealthy countries are also exploring adopting cryptocurrency as legal tender. With Yellow Card, you can seamlessly join the world of trading Bitcoin in Uganda so as to support you in getting some extra money in this rough economy. The Yellow Card Wallets are safe and all your monies are extremely well protected – more to that, there is no need for you to worry about a ponzi scheme as this is not one.

Yellow Card Financial is an American Financial Technology (FinTech) startup focused on building a new financial infrastructure for the African continent. To pursue its ambitious goals the company recently raised $1.5 million from the Celo Ecosystem fund, an initiative of the Celo and Andreessen Horowitz, a prominent Silicon Valley venture capital fund. Yellow Card employs over 60 people in the United States and ten African countries





Source – BigEye.UG

Power your brain with Ugandan News

Add some text to explain benefits of
subscripton on your services.

Leave a Reply

Your email address will not be published. Required fields are marked *