Actually crypto-currencies are the data that are entered in the form of the token in the decentralized consensus databases. This is called as crypto-currencies because these databases processes are cared with much care by well-organized cryptography. These currencies are made up of cryptography. These data are not taken care because of money, head, people, or owners. It is taken care only because of the math, which is a calculation. There are two properties related to the crypto-currencies. One is transactional one and the other one is monetary material. They always have an equal share of properties and it helps to fix its profits strongly. https://elitetrading.de/trading-software/bitcoin-era/
When a person sends a set of an amount to some other account and gets the confirmation code, the transaction is completely done. If he or she tries to stop in between or after getting the notification, it is not at all possible. Whoever thinks, banker, miner, even Satoshi or the president of the United States cannot stop the transaction. Once it is done, done. No one can stop it. Even when a hacker tries to take the amount from the account, it is impossible to cancel the transaction. That is the major problem in crypto-currencies. Literally, we can say it is an irreversible process.
Role of Identity:
There is no identity in using crypto-currencies. Normally, when people transact their amount to anyone through a bank, they need to have their account number, branch code and some other important necessary things. But for crypto-currency, it is not actually needed. There is no identity of a photograph or a signature or anything. Only people can receive Bitcoins as an identity of sending their amounts. It is only visible to analyze the flow of the transaction alone, but it is impossible to connect them with their addresses or contact numbers or anything.
Though such things cannot be there in this case, still it is securable only. It is one of the fast ones and it is also famous all over the world. As a Bitcoin is the only symbol of a transaction, there is no need to worry about anything. It is as safe as the bank transactions. The only thing which it does not have is its identity proofs. The other things are exactly or somehow related to the normal transactions only. People should be very conscious about the transaction which has to be done through crypto-currency.
No one can break this system or account once it is done with crypto-currency. It has some magical codes and only the holder or the owner can access it with the functions of the cryptography. A BitCoin is always very secure and it does allow any other man to hack or open the account or allow anyone to know about the history of the transactions. There is no need for getting permission to use crypto-currency as it is software. Anyone can use it by downloading it in Android phones, or apple, or laptops. It is very useful for people. Blindly they can use it without any doubt of insecurity or hesitations.