Future of Crypto Currencies

Good evening everyone.

Basically, what is Cryptocurrency? Cryptocurrency is the digital/virtual currency that is created for transfer of money peer to peer easily. It is a encryption by a Santosh Nakamotto in 2009.

The future of Cryptocurrency is bright in future. Because in 5year ago no one knows about Cryptocurrency but in nowadays people are aware of Cryptocurrency and also know how to transact and to operate. And many professional investors are trading in Cryptocurrency to earn more profit because profit comes from the high risk. And the price of Cryptocurrency highly fluctuates.

Every coin has a two side so Cryptocurrency currency has some merits and demerits.

Merits.
1. Secure payment.
2. Easily operate.
3. Transfer anywhere in the world.
4. Cashless economy.

Demerits.
1. Fraudulent activities happen.
2. No legal interference.
3. Minimum possibilities of refund.

Thank you.

Cryptocurrency is an encrypted, decentralized digital currency transferred between peers and confirmed in a public ledger via a process known as mining.

I believe that cryptocurrency is not likely to take the world's monetary system in the near future due to the following reasons:.

1) There is no governing body.

2) No regulations thus a common man will never invest in such a thing knowing their hard earned money can anytime be STOLEN, DEVALUED. And no one can help you out of the situation.

3) Any unwanted or wrong transactions can never be refunded.

4) It can increase corruption and fraud.

5) People are not aware of how to use cryptocurrency and hence open themselves to the hacker.

6) If it becomes popular, it can alter the known national income of a country and can develop into a huge black market for things.

7) It can affect the known growth rate of a country.

8) In extreme cases, it can lead to recession and affect the entire world's economy.

Hello friends,

First of all, cryptocurrency is a digital currency which is produced by the technology called cryptography which is nothing but an encrypted form of currency. There are many cryptocurrencies in the world nowadays. One of them is called bitcoin which is popularly circulating around the world. People too accept those currencies and trying to earn them.

Why people are interested in buying or gaining cryptocurrencies? because the value of bitcoin is that much higher. The cryptocurrency technology is an amazing technology through which nobody can hack them or stole them. But unlike other technologies in bitcoin, anyone can access this and can mine the data and gain bitcoin. For the data mining, Sample amount of data and electricity are required. In foreign countries, data mining centres for gaining bitcoin are separately run by the experts.

And now come to the point, this cryptocurrency technology is such a secured one as few banks in India accept it as a legal currency. The countries like USA, EU, Australia, Canada etc accept them as legal currency and countries like Iceland, Vietnam has banned them.

This bitcoin technology is a challenging one for the USA. Because the world's most valued currency American dollar has beaten by bitcoin. One bitcoin value at present is 6421 American dollar. And the values are fluctuating day to day. So the cryptocurrency if used in a right way it may reach a higher level.

Thank you.

Introduction:

Cryptocurrency is the virtual currency that enables us to make money transactions without a governing body (eg: RBI in India).

Advantages:

1. Helps in better economical development in a country like India.
2. No need of seeking permission from a governing institute to make transactions.
3. Faster money transfer.

Cons;

1. It is not under any governed body so chances are that there might be illegal activities that can cause us risk.
2. Employment opportunities of the bank sector decreases.
3. Lack of awareness about cryptocurrencies among the public.

What can be done:

1. Educating the public about cryptocurrency.
2. Enhancing technological accessibility so as to practise usage of cryptocurrency.
3. Ensure to have a strong set of rules which prevents fraud activities.

Conclusion.

In a nutshell, chances are that cryptocurrency can be a future revolution. It can become widely used flexible currency in future by overcoming the few setbacks mentioned above.

Good morning.

The cryptocurrency was introduced in 2009, a digital currency used to make payments through decentralized organization. Today in markets cryptocurrency like bitcoins, ether, litcoins are used.

Looking into the current scenario, I believe the future of cryptocurrency will lead to quixotic situation. The main governing factor to decide value is its demand and supply. If demand will be more then the computer processing unit will be processing more transaction, therefore, raising its value and vice versa. Vagaries in prices of bitcoins were unbelievable, 1000$ in jan 2017 to 19000$ in the end of the year with 1400 percent raise and then dropping to 51 percent of its value in starting 2018, wiping out billions of dollar in the market. It leads to an economic bubble which bursts and created havoc among investors. Cryptocurrency is handled by decentralized organization, can lead to tax invasion and have potential to widens the economic gaps. There are other issues of cybersecurity too. In last, in the era of energy depletion where some individuals do not get even receive a proper meal of a day, depending on manmade gadgets to such an extant is not ethical and will lead energy mismanagement. I believe growth can be very gradually while considering all aspects of the market and society. Currently, cryptocurrency requires rules and regulations in its value else it can bring new digital manmade tsunami affecting millions of lives.

Hi. According to my opinion, definitely crypto currency has a bright future. Crypto currency is a digitalised form of money which makes the country cashless. It can be easily transfered from user to user. Bitcoin is an example for crypto currency and is worked on the basis of the process blockchain where data is mined and difficult puzzles is solved. But the most demerits of crypto currency is that it has no central authority to control and is not a legal currency. The only aspect of its popularity is based on its value. The value of the Bitcoin is a bit higher. So people feels to easily gain profits.

Cryptocurrency is a digital currency which is secured by cryptography (encrypted form). Bitcoin, Litecoin, Mintcoin are some types of cryptocurrency. Bitcoin is the First cryptocurrency generated in 2009 via open source software though solving difficult puzzles. It was first introduced by Satoshi Nakomoto.

It is not legal currency, there is no central authority to control it, its value fluctuates frequently.

However, it is encrypted but it is not secure and safe due to hacking and frequent losses due to its totality. Now, the government ban it in India because of its leads to money laundering, hacking etc.

Cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography.
It is a digital currency that is not tied to a bank or government And allows users to spend money anonymously.
It has many disadvantages because of many people unaware of digital currencies.
Hackers used that information.
Crime increases as it has no involvement with the third party.
It can fluctuate so if it falls then people lose their money and suffers a crisis.
It leads to black money in the country so economy growth falls down.

Hello everyone!

Cryptocurrency is a virtual currency whose transaction details are stored in blockchain. This blockchain technology is based on the decentralised systems concept, meaning that no single person/company has the sole authority. Also, the data stored in these blocks are immutable, so the chances of data loss are negligible.

These technologies make cryptocurrencies a more secure way of transaction that anybody can trust. As we all know online transactions of money are increasing, hackers and frauds also have evolved and found their way to fraud people and take their hard-earned money.

So far cryptocurrencies are a solution for this and if more people get aware of it, this will be a boon for our future generation.

Everything has 2 aspects positive and negative if look to the positive side;

Cryptocurrency is very good for countries like India because there is less value of rupees in the international market by using cryptocurrency this can be eliminated.

Interfere of the third party may stop not need to take the permission to a transaction.

The need of currency exchange can be stopped so that we can buy and sell everything all over the world.

Negative:

Due to this, jobs in the banking sector will drastically reduce.

There is no one to take responsibility if any fraud happens.

It will not be easy to start in developing counties like India because of a lack of knowledge of a common person.