What is Cryptocurrency and What Are Its Pros and Cons?

Crypto assets are decentralized finances existing in a digital space. Crypto has no physical form, and the way it is stored is also virtual - digital wallets. In 2022, the market of crypto assets collapsed. There were several circumstances that led to the market drop:

• large continental war;
• increased interest rates;
• news background.

Regardless of the long-lasting market crypto winter, many people are now watching promising assets for investments at low crypto coin price. It is not a secret that the next trend will come sooner or later, and that will be an upward trend - a bull run when crypto rates will boost and bring profit to early investors. So in this article, we will discuss the pros and cons of buying digital assets in 2023.

Advantages of Cryptocurrency

Here are some reasons it is worth buying crypto in 2023:

• High potential profits and lucrative returns.
• Decentralization and safety of transactions on a blockchain.
• Total transparency and no intermediaries bring finances to a new quality level.
• Trading is available around the clock.
• Crypto markets save people from inflation risks, for digital assets are not tied to any traditional currency.

Disadvantages of Cryptocurrency

There are some disadvantages of buying cryptos:

• It takes a lot of time to understand this market and all its peculiarities.
• Crypto is an increasingly volatile investment, so it bears higher risks.
• Danger of hacker attacks.

Where to Buy Crypto?

Regardless of all the dangers and risks of purchasing crypto assets, they are still the most profitable investment options now. If you want to become a crypto owner, you should select a reliable platform for it. It should have an intuitive interface, a sufficient number of digital assets, trading tools, and customer support. We recommend using the WhiteBIT exchange - a young but reputable platform where you can trade crypto using basic and advanced tools, as well as get a passive income.