What is crypto currency ?
Crypto currencies are currencies that stored in digital form . No wonder to know that they are just binary codes that act as a medium of exchange . Crypto's are stored in cryptography to secure the transaction , which means no one can know about the transaction even the sender and receiver . That is why now people are moving towards crypto and investing more in it . Overseas transaction are getting quite ueasier for some people . In simple words these currencies doesn't hold any physical appearance like you comments on posts as anonymous .
Top 10 crypto currencies of the world :-
Bitcoin
Cardano
Ethereum
Tether
Dogecoin
XRP
EOS
NEO
litecoin
Tron
History of crypto currency :-
In 1983 an American cryptographer David Chain frame up an idea about electronic money called ecash . Later it came to existence in 1995 by digicash . Later , several electronic cash introduced during the era , but history changed when Satoshi Nakamoto developed Bitcoin in 2009 . In 2021 El Salvador and Cuba accept Bitcoin as legal tender .
Are crypto currencies government owned or private owned ?
As the crypto currencies are decentralised in nature , they all are private owned you can say . Which means government has no control on these currencies and their mobilization .
Regulatory of crypto currencies
Most of the country does not have any specific regulatory body , even they consider it as illegal .
Pros and Cons of crypto currencies
Pros:-
Protectionfrom Inflation .
Decentralised
Secure and private
Cost effective
Selfgoverned
Cons :- High Risk of loss
Highly Volatile
Illegalactivity can be performed
Threats to economy
India is going to introduce it's own digital currency :-
India's central Bank , the Reserve Bank of India , from the very beginning consider crypto currencies a threats to its economy . Before the winter session of the parliament , the government release a statement to pass " Crypto currency and regulations l of official Digital currency Bill -2021 " in the session which ban all private crypto currencies with few exceptions and RBI will introduce it's own digital currency .
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