Cryptocurrencies have found themselves to be in the centre of “hot discussion” amongst people across the globe. A sizeable chunk of masses are still finding them hard to understand and are certainly having a dual opinion. However, there is a sea of institutions which haven’t just understood its prime utility but are also willingly making use of the same as well. Yes, the concerned government institutors, corporate and banks and many individuals have been quite open and vocal towards demystifying the myths and have already welcomed the new age technology with open arms.
Considering the uncertainties, it is important to mention
What is Cryptocurrency?
Cryptocurrency is a virtual currency which uses a typical and unique currency namely cryptography.
How does this currency differ from the rest?
Well, unlike all the other ‘currencies’ available in the market, which are basically issued and circulated by their respective governments, this currency is organic. It basically implies that no authority of the government has issued it. This is what makes it unique and outstanding from the rest and of course for the same reason, it is very difficult almost next to impossible to be counterfeited.
Likewise, owing to the fact, there is no relation of the government with the currency, no similar or pertinent authority can manipulate or enforce its ideology.
There are following cryptocurrencies available:-
Cryptocurrency makes use of decentralized technology. It empowers and ensure people of making secure payments. Now, while you start with your transactions, it is extremely necessary to know the top bitcoin exchangers list
Can I store funds anonymously as I don’t want to use the name of the organization, I work or even my personal name?
Well, it exactly helps you to do it in an anonymous manner. The transaction is stored on their system through a network of public ledger which is known as blockchain
Can I reverse the transaction on cryptocurrencies?
Well, the transaction which you have done can’t be revoked as it is irreversible.
Likewise, your responsibility as an individual is primarily very important before you deal with transaction. Even if that means, that the cash is sent to some other person, then you can’t simply do anything.
Transaction is anonymous
Usually, the identities of individual is attached with all the transactions relating with bank accounts, but, cryptocurrencies’ transactions have absolutely no link to you or for that matter any other entity. It is completely anonymous.
Easy to operate with no permission to undergo
Just installing of software will do the trick. Yes, you can start with the most profound way of dealing in terms of receiving and sending. Unlike the real world trading of capital markets, where you have to follow a set pattern, as trade accounts have to be confirmed by pertinent authorities, there is nothing of that sort. In short, it is absolutely free from any sort of authorization, where you feel that certain authority is looking after you, or may have watch your actions in future.
CryptoCurrency Exchange : The Technology behind Trading