Official Review: Cryptocurrency by Ray Roth
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Official Review: Cryptocurrency by Ray Roth
Cryptocurrency is a non-fiction book written by Ray Roth. The author is an investor and has studied cryptocurrencies for many years. His book explains what cryptocurrency is, how it works, its digital technology, and the pros and cons of using it. The book provides understandable terms that provide impartial information about this topic.
The author begins by stating that there are many myths surrounding cryptocurrencies. Many people find the subject difficult to understand, and this makes people afraid of it. The author provides descriptions of this technology and how to invest into this relatively young idea.
In 2008, a white paper was published about this new technology by a pseudonymous man known as Satoshi Nakamoto. This paper sparked the formation of Bitcoin, which is the world’s leading cryptocurrency. Blockchain technology is utilised, which means no third party is required, such as the government or a bank. All transactions are of public record and maintain a secure and decentralised payment structure. The idea is appealing for the global community as it is a solution for currency exchange rates, as it differs from traditional currency because it’s not affected by inflation. It has the disadvantages of not being considered legal tender in most countries and has its risks and dangers. Cryptocurrencies are a new technology and are untested and unproven in many ways.
I appreciated the author’s unbiased presentation of cryptocurrencies. He has clearly outlined the pros and cons of this technology and explained what it is and how it works. I picked this book to review as I had come across this technology on many social media platforms and had no understanding of this currency. The book has increased my knowledge and described how cryptocurrencies are different from traditional currencies. The author covers blockchain technology and cryptocurrency wallets straightforwardly and understandably.
Chapter ten in the book is a great inclusion. It consists of terms and phrases that help to navigate the world of cryptocurrencies. For example, he explains that scam coins are an entire system of coins created to scam people and take their money. Other terms and acronyms that are important to recognise are defined. Having this understanding takes away the fear of this subject as we all gain security from knowledge.
The author is clear that there is a chance that this technology could be a great opportunity, or it could also result in losses. He states time will only tell whether this new way of managing money will be successful. I think it is important to be unbiased and not steer readers in one direction. The author has done a great job of clearly setting out the facts and enabling the reader to make their own decisions about this investment opportunity.
I didn’t find any spelling or grammar mistakes in the book, so I believe it is exceptionally edited. I enjoyed the format and the easy to understand descriptions of a complicated subject. I appreciated the unbiased content and the explanations of terms and phrases. I rate the book 4 out of 4 stars as there was nothing I disliked about the book. It is an essential read for adults who are interested in joining the world of cryptocurrencies.
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Cryptocurrency
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