What is Cryptocurrency : In today’s digital world, currency has also taken its digital form. And this digital currency itself has been named Cryptocurrency. For example – Bitcoin whose name has been heard many times. But what is this Cryptocurrency ? and how is it used.
What are its benefits? You will get answers to all such questions in this article. That’s why let’s know today about Cryptocurrency that What is Crypto Mining?
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What is Cryptocurrency : What is Crypto Mining
Cryptocurrency is a virtual currency. Which was introduced in 2009. The first Cryptocurrency was the most popular Bitcoin. Cryptocurrency is not like any real coins or notes.
That is, we cannot take this currency in our hands like money and cannot keep it in our pocket either. But it remains safe in our Digital Wallet. That’s why you can also call it Online Currency. Because it only exists online.
Payment from Bitcoin is done from the computer itself. By the way, friends, you already know that our Indian Rupees and that is why the government has complete control over currency like Euro, Dollar. But there is no such control on Cryptocurrency like Bitcoin.
This Virtual Currency is not controlled by Government Authority such as Central Bank or any country or any agency. That is, Bitcoin does not follow a system like Traditional Banking. Rather, this computer keeps on transferring from Wallet to other Wallet.
How many types of Cryptocurrency are there?
It is not that Bitcoin is the only such cryptocurrency. Rather, more than 5000 such Cryptocurrencies exist. And there are some popular Cryptocurrencies. Such as – Ethereum, Ripple, Lite coin, Tether and Libra. You can invest in these. And just like Bitcoin, they can be easily bought and sold.
But it is different that the most popular cryptocurrency is Bitcoin. And you will get an idea of how much Popular Currency this is, from the fact that many companies of the world have started accepting Bitcoin Payment. And further the numbers of these companies will increase rapidly.
In such a situation, shopping, trading, food delivery, traveling everything can be done using Bitcoin. Slowly but surely Bitcoin is increasing rapidly in India. The reason for a low speed of Cryptocurrency in India was to be illegal because Cryptocurrency was banned by RBI.
But now in March 2020, the Supreme Court has removed this BAN. That is, now it has become legal to use Cryptocurrency in India. And that is why the number of Cryptocurrency users has started increasing in India too.
How to use Cryptocurrency?
It is very easy to use it. This means that by using the CoinSwitchKuber application, you can invest in Bitcoin in one click. You can buy and sell it. You will find it as easy as you purchase the product of your choice from Amazon. This app has Millions of users all over the world.
This question may come in your mind that bitcoin will be expensive. In such a situation, how can I buy it, then friends, the good thing is that even though the price of one bitcoin is still 32 lakh rupees. It is growing steadily. But by using this app you can start your investment with only Rs.100.
In this you will not have to pay any Transition Fees either. Here you should also know that the price of Bitcoin keeps on changing rapidly. And according to its demand, its price fluctuates.
Keep these things in mind while using Cryptocurrency.
In this, you have to remember that you can get a lot of profit in this. But the risk is also high in this. That is why while buying any Cryptocurrency, do some research on it so that you know how the performance of that Cryptocurrency was Last Week, Last Months.
With this, you will get an idea of the profit from that currency and the fluctuations in it. So that there can be low risk and high profit in your investment.
In the future, how fast the cryptocurrency will spread in India and what we will be able to buy from it, it will be known only in the future. But now if you want to use it wisely, then you can get profit.
So friends, through this article, What is Cryptocurrency: What is Crypto Mining? A lot would have been known about If you have any question related to this then you can ask us in comment box. We will definitely answer your question.
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