What is the Profit and Loss of Cryptocurrecy ?

Benefits of cryptocurrency :

• Everything that is done in cryptocurrency is in the online mode, plus the security is very strong, because the technology used in it is a special type of security technology, so fraud in it The chances of this are very less. Nor is any person able to hack it.

• Transactions done through cryptocurrency and normal transactions that you do are different, because transactions done in cryptocurrency are done very tightly and securely.

• When you pay with a credit card, you have to pay extra charge on every payment, but cryptocurrency will be beneficial for this, because it will also make you pay more to someone and it will also be in it. The transaction charge is also much less than that of a credit card.

Due to all these advantages, cryptocurrency remains a very good option for people in today's time.

Loss from cryptocurrency :

• Where there is a specialty of any thing, there is definitely some deficiency in it, the same is also there in cryptocurrency. Yes, cryptocurrency has its advantages but it still has some drawbacks like -

• The only drawback in cryptocurrency is that it has not yet come up with such technology that if you get paid by mistake for some reason, you cannot take it back.

• The biggest drawback in cryptocurrency is the non-receipt of Wallet ID. That is, once you have lost the ID of your wallet, then forget the cryptocurrency account as it can never be found again. Also, after losing the wallet ID, you will never be able to withdraw your remaining money from it. So you will lose it forever.

Is cryptocurrency legally correct?

The answer to this question may vary from country to country, as cryptocurrency is being used in many countries in the world, such as United States etc. But even then it is completely banned in some countries which includes the name of China. Let us tell you that along with China, it is completely banned in our India.