Crypto Currency - A digital Money Use

moyeon (70)SKP [Mod]in Steem Alliance • 4 months ago

Hello Steem Alliance

_Canva

Digital Crypto Currency - A Secured Digital Money

_Pixabay

We people know the value of money. In India, we use Indian rupees as our currency and same way every country has its own currency. We can keep this currency and touch this also but there is now trend of crypto currency which we can keep in digital form but we can not touch it. Now it is becoming popular and people are thinking to invest into this currency. In this article, we will talk about what is digital currency and especially what is Bitcoins and what does benefit to keep Bitcoins?

What does means of Crypto Currency?

_Pixabay

In Latin language there is one word of Crypto which means there is something which is hide and there is another word currentia which means money. So we can say Crypto Currency word comes from Latin language. As we said above it is pure in digital form and we can use in online. We don't keep this currency as normally we do.

We can use this currency to buy stuff, to buy services and best part is we can hide money from government. We don't need to open bank account which can track by government so it is best part to save and hide money from Government.

It is rumour that it is made by Satokshi Nakamoti in 2009 but to be very honest, there is no certified proofs even where is Satokshi Nakamoti now, no one knows about him. It is completely on rumour based.

How many forms of Crypto Currency

_Pixabay

According to research, Bitcoin was first crypto currency which had been launched and now there are more than 1000 crypto currency are available in market. But Out of 1000, I can share few names here which are most popular crypto currency. Ether और Etherem, Litecoin, Dash, Jedcash, Monero, Bitcoin, SiaCoin, Redcoin, SYScoin are very popular crypto currency but Bitcoin is very precious from starting till now.

What do you understand by Bitcoin

_Pixabay

As I said earlier, Bitcoin is first crypto currency which had been launched and it is world wide used by people to make transaction without using bank account or third party and in my previous article, I shared that this is well secured because it is based on Block chain nodes and money comes in codes form and it is hard to make scam in Crypto Currency transaction.

What is Wallet of Bitcoin

It is like software where we store our Bitcoins and as I said money comes in codes form so it is saved in codes form and whenever we want to use, or want to send to some one so we just need their Bitcoins wallet adress and we can make transaction and Government does not have ability to track this.

Why People are using Bitcoins

_Pixabay

In earlier, People used to use Swis bank to hide their black money but now Government can track those money and It is very risky but Bitcoins are very safe. You can purchase Bitcoins using your black money and whenever You want to use, You can use it . Government does not have system to track transactions. It is super safe that's why people are using very much.

Is there any loss in using Bitcoins

Well It is safe but Suppose You invested huge amount and it is like share market and suppose you are unlucky and rates will drop so you will book huge loss.

It is also unsafe in eyes of country growth because people are getting involved to buy illegal things like drugs, weapons because government can not track transactions so people are getting involved in illegal activities so this is up to you how do you manage and how do you use this crypto currency.

Conclusion

_Pixabay

Hope You are now much familiar with Bitcoins and crypto currency. See it is good to invest but with wisely you should use this system. It is saved and secure but if you will do mistake so people can hack your Bitcoins wallet adress and in that case you will in trouble or if you will loss your wallet address or it's password so it is very worst situation because there is no recovery of password. So Use system with wisely.