What Actually Cryptocurrency Is ?

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Cryptocurrency

If you’re not aware of cryptocurrency, let us introduce you to its concept. This is digital money, meaning that it has no physical form. it isn’t a coin or a bill either. Everyone in this digital field wanted and tried to create digital money (cryptocurrency), but many of them failed, and so it was created and carried out by Satoshi Nakamoto, in the form of code that needs no consensus in case, one party disagrees its transaction or payment or the moment you transact your amount it’s saved, it cannot be reversed, so no use of disagreeing. Everything is online, Pretty strict huh? Well, it’s important to gain the trust of your client. You may be thinking, is it legal? Yes of course it is, it is more known in developed countries including U.S, Canada, U.K, Japan, etc. In the case of taxpaying, it is considered as a property rather than an amount. Cryptocurrency is simple to use, people just download the app and start transacting amount with other peers of yours on this platform.

Now if you’re aware and your brains got that knowledge, we can get to the main scoop of the day, Bitcoin price halves after every 4 years, yes, it falls or you can say it is divided into half and this year in May 2020 its price is going to be halved from 12.5 BTC to 6.25 BTC, which is raising discussions and concerns for the crypto-currency community because bitcoin is more known nowadays than it was ever before, more people tend to use this mode of transaction and it has gained people’s trust.

Let’s talk about the speculations that people are having regarding this. Some Twitter users were sharing their ideas that if this currency is halved it would, in fact, increase its amount somehow, some had their minds stick to this fact that it wouldn’t halve at all, due to the pandemic that the world is facing, and due to slow trade, or even no trade, the falling of prices of crude oils, and many other things, the economy is directly being effected, and after all these people are diverting towards this mean of transferring money. If it is halved, its value would drop and if it does, many people think that they would earn less considering the same amount of work that they will deliver after this halving.

It sounds like less pay and more work you can earn, and lose amount very quickly and easily here, it’s that type of business you cannot deny, just a bit of common sense is needed, so try using it.

Viewing these rising concerns among the industrialists, one can judge how important this online money must be for them. But apart from its importance, it has its own disadvantages, for example, you can easily be exposed to any sort of scam or fraud, and remember when I said no reverse transactions and no consensus, it can be pretty troublesome in this scenario, it cannot be refunded, such type of earning promotes black marketing, which may damage its reputation no matter how much useful it sounds. Despite all these risks,  people are still earning and most of their living depends on it, so halving of the price can be pretty much upsetting if things don’t turn out to be in their favor.

From where the tide would take its Coarse? and what the results might be,? Is the price going to be halved or will the value sustain? These questions are demanding justification in this trembling economy.

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