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Crypto/NFTs - Coggle Diagram
Crypto/NFTs
Cons
Celebrities promoting scams
Big companies taking advantage of the “trend” and making NFT projects
Potential of crippling economic growth
Malware
Hackers that could steal hefty amounts
Lack of liquidity
High trading fees
Environmental damages
Blockchain technology is still in its early phases
Pros
a new way invest
turning absurd amounts of profit on NFTs
being able to work from home
Short settlement times
a potential future for currency
Private Transactions
a way to make money
Protection from Payment Fraud
crypto markets are always open
why you should invest in crypto
the government cant tax crypto
many coins are made as a long-term investment like bitcoin and ethereum (other coins like doge coin arnt)
long-term storage of value
many examples of teenage millionaires
get familiar with crypto because there is a huge change cash becomes obsolite
blockchain technology is getting better and better
a better way to invest with extra cash
obviously not being barbaric with investments but making smart small low risk investments will turn out to have huge profits
it is reliable
Questions
Why are so much celebrities promoting new "coins"?
Could you possibly lose your digital wallet?
Is it really the future of currency?
How tight is the security against hackers?
Is it a gamble?
Could the crypto market crash?
Is it ethical?
Non-fungible Tokens that grant the seller the opportunity to set a price they want
Allowing jobs as "artists"
set on a blockchain that proves ownership
private and instantaneous transaction
there are different types of NFTs from different sellers like: Bored Ape Yacht Club, CryptoPunks etc
Digital Currency
Buying, selling and trading
investing
Different "coins" or currencies that have different values: Ethereum, Bitcoin etc