World of Cryptocurrency
Everyone is nowadays in a rush and hustle of getting the world of Cryptocurrency in today’s world. The people even from the remote villages of underdeveloped nations are getting in a race to obtain Cryptocurrencies in the world without having the knowledge of what it is actually.
So let’s get familiar with what is basically a Cryptocurrency and why it is being in so much demand nowadays.
Cryptocurrency is basically a virtual currency or you can basically say its a virtual stock of a company or an organization which needs money for an expansion of their company or organization in the international market. You may think it was even possible before the Cryptocurrency .. yes you are right. But due to Cryptocurrencies, this process has become very easy as it is a decentralized currency and we get an easy exchange and equal rates in each and every country. You can transfer money in form of Cryptocurrency in any part of the world without losing any sort of money. But is it the only need for Cryptocurrency ??? No, it isn’t
Another need for Cryptocurrency is the blockchain technology transfer if money…
So what is blockchain technology ??
It is a technology in which all transactions are recorded even if you do million transaction of the currency which gives the benefit of transparency of transaction and the clear amount of money one has.
So you must be thinking that this should be adopted by the government so they can track each and every transaction taken place ???? …… but the answer is NO !! Its because the virtual currency doesn’t have any value any individual of the world can make his/ her own currency .. so this, in turn, would bring inflation in the world as the value of Cryptocurrency is just dependent on its demand .. we will learn it from a (Real life) example in the end. The more is the need of currency the more is its value.
Next question in your mind .. !!! Are the Cryptocurrencies legal ???
NO !!! Cryptocurrencies are still not legal in India and most of the other countries. There is hardly any country in the world which has legalized Cryptocurrency.
Even being Illegal why is the demand for Cryptocurrency so high ???
It is just because of the extreme rise of the Bitcoin (First Cryptocurrency) in just a few months. Yes everyone must have heard about the bubble of Bitcoin. It just rose to the height of 20000$ from 1000$ in just 7 months and rose from 5000$ to 20000$ in just 2 months .. Imagine you making 400% money in just 2 months. Due to this rise of Bitcoin many people ranging from millionaires in big cities to poorest people in remotest village tried to acquired Bitcoin and as a reason, the price of Cryptocurrency is growing.
So that’s all for today .. for more updates on world’s news and markets etc. And more fun stays connected with us on our facebook page Super Timepass .. Cryptocurrency part 2 article will be out shortly.
Top cryptocurrency to invest in 2018 World of cryptocurrency