Cryptocurrency-bitcoin is digital money which is created with the help of coding technique. It is also considered as a digital alternative to using cash or credit cards to make payments regularly.<\/p>\n
Difference between Banking and cryptoCurrency<\/strong> So check the Advantages of cryptocurrency\/BitCoin? 1.It is a virtual currency.<\/strong> The birth of bitcoin in the year 2009 opened doors to several investment opportunities in an entirely new type of class \u2013 cryptocurrency. By using cryptocurrency, there is very little chance of fraud because it is digital which can easily prevent a counterfeited or reversed payment. This type of action can be a major issue with other traditional payment options, such as credit cards, due to charge-backs. Cryptocurrency is much safer than other traditional forms of payment and banking in the market.<\/p>\n Also, there is no need to share your personal information that can lead to identity theft while using cryptocurrency. You should note that all the transaction is based on a push basis with a cryptocurrency which gives the option of sending the exact amount with no extra information to the account holder. The use of cryptocurrency is available to everyone that has access to the internet. It is getting more fame in certain parts of the world, such as Kenya, which covers only 1\/3 of the population using a digital wallet.<\/p>\n Cryptocurrency-Bitcoin-Send\/Receive – transactions of Bitcoin<\/strong> There is a very low fee in doing transactions with a cryptocurrency. You would be glad by knowing that it is easy to complete a cryptocurrency transaction without having to pay extra charges or fees. With over 1200 unique cryptocurrency types in the global market, there are innumerable opportunities to select a payment method that matches the specific needs. Of late many people can deny that the transactions are irreversible, but the perfect thing about cryptocurrencies is that after the confirmation of the transaction. A new block will be added to the blockchain and then the transaction will never be forged for sure. You would become the rightful owner of that block.<\/p>\n The Cryptocurrency\/Bitcoin market is the market where all Bitcoins are traded worldwide. If you have Bitcoins, then you would be able to use them for buying anything for which this currency is accepted. It would be better for you to understand that there are some trades worldwide which accepts only Bitcoins for the payment purpose. If you are planning to get those specific goods, then you need to take the help of Bitcoins to complete the transaction. The price of Bitcoin determines the demand and supply. There will be high risk and high return in the investment of Bitcoin. Make sure you are going through every aspect of Bitcoins before proceeding further for the next steps. Currently, 1 bitcoin = 3,371,198.88 Indian Rupees.<\/p>\n At last, you need to understand that the value of Cryptocurrency-Bitcoin goes up and down within seconds. If you are not making the right decision at the right time, then you would be losing a significant portion of your investment for sure. A better thing is that once you are aware of the basics, then you will reap lots of profits from this type of trading.<\/p>\n For more details watch the Bitcoin Malayalam video<\/p>\n
\nlet’s see what is normal banking?
\nThere two parties sending money with the help of a bank. In the Digital era, there are so many\u00a0 Disadvantages can see in traditional banking.
\n-Bank centralized operation.
\n-Time consumption
\n-Chance of manipulation
\n-Service Charges<\/p>\n
\nCryptocurrency introduced with the aim to optimize banking. <\/strong><\/p>\n
\n2. It is decentralized.<\/strong>
\n3. secure transaction<\/strong>
\n4. Very quick transactions<\/strong>
\n5. Peer to peer network<\/strong>
\n6. without any third-party manipulation.<\/strong><\/p>\n
\n-we have to keep a ledger of each transaction-public ledgers.
\n-anybody can verify the transaction called Bitcoin Minning.
\nCryptocurrency-Bitcoin Mining-Block chain Technology<\/strong>
\n-People have to verify each transaction and save as block with transaction details (Transaction ID + details + #code)
\n-each block contains the id of the previous block. so its a chain.
\n-miners get fees and reward as bitcoin.<\/p>\n