The wheel of pleasures: revolution, risks, and the future of digital finance

Abstract

This article aims to make clarity in the new trends of the modern economy that influence our lifestyle, especially how we gesture digital money. Cryptocurrency is a computerized form that allows the process to be made as well as investment of money, but many people choose to use virtual cash without being informed enough about the advantages and the high risks of losing everything. Cryptocurrency is seen as a shape of cash that works freely of banks and governments, permitting coordinate peer-to-peer exchanges. Initially planned for ordinary exchanges, cryptocurrency has progressively gotten to be a venture resource due to its cost instability. Bitcoin, the primary and most recognized cryptocurrency, cleared the way for various choices like Ethereum and Litecoin. Freedom can be felt by using virtual money due to the fact that is more convenient and easier: lower exchange expenses, accessibility through one app, investment opportunities but there is the dark side: high volatility, the absence of regulatory oversight and the fact that some countries can’t accept this type of money. In Moldova it is not allowed to use this form of currency after the decision of the National Bank of Moldova and the Law, penalizing any transaction with electronic money. People lost faith in electronic money after the cryptocurrency “One Coin” failed for mysterious reasons due to bank fraud, and investments made by people were equated to 0 cash in their accounts. To sum up, if you step into cryptocurrency, start small, do your research and only invest in what you can afford.