INTRODUCTION TO CRYPTO CURRENCIES
Digital cash is in quite craze nowadays .Everyone is promoting and using it .This proved to be quite beneficial for receiver and giver both ,none of them face any difficulty regarding its use and protection . BUT this currency is not widely accepted in our country means, people are using it but not at large. There are many confusion and insecurity engraved in mindset of people not only middle aged but even youngster are not fully aware of its miracle .
The biggest reason for this fright is lack of knowledge and terror of risk .in our education system ,we are never taught to take risk and attitude of ‘give it chance ’which cost a lot to us in later part of life. we are so used to be in comfort zone or safer side we are missing out a lot which can only be achieved with stroke of risk only.this is the time to evolve from our previous mindset and start investing. How many millionaires do you know who became wealthy by investing in saving accounts?
So this is the remedy of your problem –“crypto currencies”in simple words it is the system that allows for secure payments online which are dominated in terms of virtual “tokens”. Many cryptocurrencies are decentralized network based on blockchain technology — a distributed ledgre enforced by a disparate network of computers. Cryptocurrencies face criticism for a number of reasons including their use for illegal activities exchange rate volatility and vulnerablilities of the infrastructure underlying them. However they also have been praised for their portability ,divisibility inflation resistance and transparency. Wise spending is part of wise investing and its never late to start due to its positive feature it can eradicate corruption to great extent it is such a powerful concept that it can over turn the government because its circulation is not under control of central government it is based on network that is distributed across a large network of computers.
Many experts believe that blockchain and related technology will disrupt many industries including finance and law. Blockchain is tech bitcoin is merely the first stream manifestation of the potential bitcoin and other cryptocurrency have been growing rapidly in india despite the pessimism of the central and reserve bank of india (RBI).in 2018,RBI has banned banks and other regulated financial entities from dealing with clients who handeled private cryptocurrency such as bitcoin .however,the supreme court last year over turned the RBI’s order .this has cleared some of the uncertainity around the legal status of cryptocurrencies and contributed to rapid growth in trading volume.Bitcoin enthusiastic see the rise in the price as a validation of their belief that private cryptocurrencies viable alternative to fiat currencies such as dollar and the rupee.the core argument is that unlike fiat currencies which are indiscriminately printed by the central banks the limited supply of private cryptocurrencies make them a lot more valuable .infact the supply if many private cryptocurrencies is limited by design and this is an attribute that has attracted many to invest in them .many even believe that cryptocurrencies to replace fiat currency at some point of time