What is Cryptocurrency

What is Cryptocurrency

You must have heard about Bitcoin, Cryptocurrency and wondering what actually it is, what is bitcoin, what is Cryptocurrency, so let’s learn something about it, here we go.

In very old days people used to do barter trading they used to exchange goods for goods.

After barter different types started as money like commodity/coins with certain values as a payment for goods and services.

What is Cryptocurrency?

Now technology is shifting revolutionary trend of money to Cryptocurrency. It is a form of digital money, neither it is paper money nor any other physical form, no one controls it or regulated by a governing body or any centralized financial authority.

The sell and purchase of Cryptocurrency can be only carried out on internet. It uses blockchain technology it is secure, instant and anonymous.

Why to use Cryptocurrency?

When someone want to transfer money from bank, bank can freeze money or limit the transaction to certain amounts. This is a problem you cannot face while storing your Cryptocurrency in your wallet using your unique key. Only you have access to the funds within your wallet.

Using Cryptocurrency offers an added level of protection, since you won’t be providing anyone with sensitive banking information that could potentially be sold or stolen.

When you have to transfer huge amount, transaction fees are generally low for Cryptocurrency transactions.

Benefits of Cryptocurrency

Everyone can do this; everyone can send or receive money even you do not have access of any bank account.

You can transfer money to anyone, anytime, anywhere in the world instantly, with no bank or middle man with little or no fees.

The possibility to build on top of and around the block chain technology to eventually and fundamentally change the way we use, accept, distribute and interact with money.

You can make Cryptocurrencies transfer or trade 24/7. You can trade Cryptocurrencies at mid night or in the early morning or on the weekends.

 

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