Decrypting the Cryptocurrency

      No Comments on Decrypting the Cryptocurrency

A couple of years ago our vicinity was totally immune to the term “Cryptocurrency”. But now, every 2nd person is talking about it. The regular price hike in the world of cryptocurrency is a breaking news for every day. But wait, are you one of the innocents who have no idea what people are losing their minds about? Well, don’t worry.
A couple of months ago cryptocurrency for me was just like a UFO, no clue but sounds fun. Therefore, I chose to dig deeper to help people like me. All right people, sit tight because you after a reading this article you will be all set to jump right back into those ‘Cryptocurrency Talks’.
What is a cryptocurrency?
According to Wikipedia, a Cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transaction, to control the creation of additional units, and to verify the transfer of assets.
In other words, cryptocurrency is a type of digital currency. It is often referred as Virtual Money. One more term you will notice while reading about the cryptocurrency is “Decentralized”. We all know that our REAL currency that we have in our wallets is governed by our Government. And it is called Centralized currency.
Since in a cryptocurrency, the Government has no control over it. Therefore, it is called Decentralized currency. These currencies are managed through advanced encryption which is known as cryptography.
In conclusion, we can say that it is a type of digital money or an asset which is still fighting for its legality in some areas of the world. However, the majority is allowing it as a method of payment. We will talk about it in upcoming sub-heading.
No so long ago, the very first Decentralized cryptocurrency, Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto. Now the Bitcoin is in all over the world. Since then, thousands of cryptocurrencies have come into the existence. And Binance Coin is one of them.
If I say that cryptocurrency is legal then I would be partially wrong. Because the legality of these currencies is kind of topic of discussion. However, some countries have officially allowed the trade of it and other counties have banned it explicitly.
Besides the government organizations, over 100,000 merchants and vendors have accepted the Bitcoin as payment in Feb 2015. As of now, it has grown beyond our perception and it is still growing.
Current Position of cryptocurrency
To make you understand the popularity of cryptocurrency and its value, let me give you a statistical report. Right now, while I am writing this article the price of Bitcoin is $15,314.3154 USD per coin. Back in October, one Bitcoin would cost you $5.889.7100 USD. Yes, you heard it right. It clearly means that the cryptocurrency is here to stay.
Talking about the famous investors like Warren Buffet, he also possesses the cryptocurrency assets.
Future of Cryptocurrency
Managing your digital asset over the internet makes is efficient and manageable. Another face of the coin tells a different story, being only available on the internet makes is vulnerable towards cyber attackers and hacker. Hopefully, the future advancement in technology and cybersecurity will overcome the problem.
The number of vendors and merchants who have accepted the cryptocurrency is increasing day by day but it is still not enough yet. Therefore, to become a part of the mainstream payment system, cryptocurrency has to spread its wings over the worldwide merchants.
Alternative to Bitcoin
As you have seen that the Bitcoin is pretty expensive to buy. And for beginner investors like us, investing in bitcoin can be a big risk. Therefore, Binance coin is here for us. It is also a cryptocurrency like Bitcoin but is much cheaper, that mean lower risk.
You can buy one Binance Coin (BNB) for $7.33 USD. And right now it is gaining by 26.03%. In addition, we can always use it to buy Bitcoin. It provides a wide range cryptocurrencies for conversion.
If you want to buy Binance Coin you can visit ___________ .For more information about Cryptocurrency feel free to talk.
One more thing, you are ready to join the Cryptocurrency discussion now. Cheers!

Leave a Reply

Your email address will not be published. Required fields are marked *