What is a cryptocurrency and how does cryptoinvesting work in Russia
Cryptocurrency is digital
Crypto investments are an alternative to traditional onestypes of investments, but the risk is much higher. If in the case of traditional investments an investor can lose only a percentage of his investments, then in the case of “cryptocurrency” he may be left with nothing. Cryptocurrencies currently have a low barrier to entry into the market, and they appear on it almost every day, but they also disappear in the same way.
Crypto investing itself is developing in Russiavery active: until recently we were the third country in terms of mining volume - processing of transactions in cryptocurrency. Today, almost every second person involved in business or investment considers this tool as one of the most effective for withdrawing large capital from the country, because all this is poorly monitored and controlled by the state, which, by the way, raises many questions.
The stable position of Russia at the momentdepends on the exchanges and the governments of the countries in which these exchanges are located. VPN and other services that bypass the system itself are currently working, but nothing prevents blocking users with Russian passports.
Over the past two weeks, some cryptocurrenciestrading platforms and services have already introduced restrictions on Russians. So far, most crypto exchanges continue to serve Russian citizens and do not impose any strict prohibitions on them, because our users make up a significant part of the market participants, and the turnover of their assets is a high share in the total depth of the crypto market.
In general, in developing countries such as Russia,crypto investing is not just a hobby, but a full-fledged earning opportunity, and therefore cryptocurrency is taken more seriously here. To engage in crypto investing, people are willing to spend time studying the topic and searching for exchanges. Therefore, we have a large number of companies and schools that are engaged in investing in cryptocurrency and teach it. However, at the institutional level this has not yet been developed and this phenomenon is largely maintained by human enthusiasm.
NFT as a safe way to express yourself
NFT is a technology based onthe principle of operation of smart contracts, confirming the uniqueness of the token (conditional crypto unit). Any digital entity, in particular an art object, can be a token here. Investing in “crypto” is, in fact, investing in cryptocurrency, and NFT is, respectively, investing in art or any other media product. There is a direct connection here.
NFTs as a phenomenon are certainly disruptive.Just look at the performances, events and art objects that are produced there. They provide safe opportunities for self-expression that may not exist in real life.
Is it possible to block the crypto investment system?
Block the investment system, namelyblockchain is not possible, of course, unless the world faces a global blackout. Blockchain is a conditional chain of transactions that is recorded in a specific order in which they were made. It is stored centrally on all computers that are engaged in mining, which is already familiar to us. That is, these are millions or even hundreds of millions of computers that store information; it is impossible to imagine blocking everyone. At least it's utopian. This is the same as blocking the entire financial system: it is, of course, possible to imagine the action, but it is not possible to think about the consequences.
What can happen in Russia?
What could happen in Russia today isblocking various sites for crypto-investing or completely prohibiting this activity at the legislative level, because it is not controlled and accountable to any financial systems. Here we need to talk about what will happen to the Russian market, investors and ordinary citizens. And the scenario is very logical: investors will go to a place where their activities are not threatened, and for the population not involved in this process, this will be an educational blow. It is important to understand that any market needs freedom one way or another.
It is impossible to deny the scale of the scientific layer,involved in this area. The world is actively developing in this direction and depriving people of the opportunity to be involved in this global process is a big step backwards and an absolute loss for our market and our economic situation.
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