Future of Crypto Currencies

Good afternoon friends,

In the last couple of years, not only individuals but even major organizations have started accepting payments in the form of Cryptocurrency.

This led to a huge investment and mining boom with respect to bitcoins.

Coming to the present state of affairs, Finance Minister Arun Jaitley announced in February 2018 that the use of bitcoins will no longer be tolerated and they intend to get rid of the decentralized currency from the country.

Many countries like Russia, Bolivia, and Taiwan have already posed the restriction on usage of Cryptocurrency. The estimated amount of bitcoin distributed all over the globe is said to be 21 million and 4 million more left to mine. This indicates the future of bitcoins will soon be restricted to trading or exchange.

The case seems to be similar in India since the finance department of the country is not ready to accept this currency and RBI being the head and control of banking in India has also warned people about the usage of cryptocurrency and its risks involved.

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.

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.

Cryptocurrency.

It's a digital form of currency which uses cryptography to transfer coins and the transactions are independent of government.

Banks can't charge money when we send or receive bitcoin.

Bitcoin is the earliest form of cryptocurrency and it was founded by a mystery person named Satoshi Nakamoto in 2009.

Even though cryptocurrency makes peer to peer transcations easier, there is no sense of security and one can't sleep peacefully knowing that the value of cryptocurrency might fall the next day.

It fluctuates way more than normal currency and atleast the normal currency's deflation has an impact on the consumer goods too. But Bitcoin has no such impact.

There is no proper governing body and if your money gets hacked, you won't get repaid.

I can't see cryptocurrency replacing normal ones in the near future because of the high risk involved. But there's a slight chance, if we improve the security and the threats of hackers are eliminated.

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.

Crypto currencies are basically digitised money that are used as a medium of exchange for financial transactions.

Everything on earth has pros and cons and so is it for crypto currencies. Advantages of crypto currencies are that they are easy to use, fast and unlimited transactions and transparency. Since crypto currencies are decentralised in nature (i. E, there are no legal authorities to control) , there are chances of bankruptcy and security issues. Investments in Crypto currencies are similar to that of stock market. They are highly volatile in nature and returns are not sure. The reason behind investors not showing interest in crypto currencies is that, if an organisation goes bankrupt, then there is no surety for investors in getting their returns back.

Future is safe with the help of digitalisation and at the same time not secure in the absence of basic facilities/needs.

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.

In 2009, Cryptocurrency came into the market. This is digit currency we can buy or sell in the national as well as international market. Is a convenient way to invest. Cryptocurrencies are of different types some of them are BITCOIN, DOGECOIN, ENTHEREUM etc.

Cryptocurrencies are on the rise due to its inherent security and ease of use. Crypto currencies are the future of payments because of the transaction speed and security it provides and that is the biggest advantage and we don't need the banks of we base our transactions on cryptos.

Hi friends!

Cryptocurrency is a digital and virtual currency. It works only on mobile, computer, or any android digital system. It is a decentralized monetary system all over the world there is no governing body like the banking system.

It is purely digital so no third party is involved between the buyer & seller & if any fraud or cheating has happened then no one is responsible. But still day by day the people are attracting to virtual currency. Even many countries, industry and a lot of organizations are officially accepting this digital currency.

In cryptocurrency, A number of digital currencies are available may be their number will be in thousands or more above. In one of them now Bitcoin is on the top in the market. Overall on the basis of data and current condition, the future will be cryptocurrency.

This is Chhotelal.

I come to the topic future of cryptocurrency.

Cryptocurrency first introduced in 2009.

This is digital money. It is medium of exchange. Friends we all know very well that every coin has two aspects, yes I am telling about the negative and positive aspect.

Its positive aspect is that.

It is used as an international level & also it is faster. We do not need to go the bank and no need to stand in a long queue. We make a transaction online at home.

The disadvantage is that to access it we need a computer or mobile but it is not affordable for some people. The security problem is also. If a bank is rupt then not sure to return your money.

In last, my conclusion is that if these all problem are eliminated then it is our bright future.

Thanks.

We can consider crypto currencies as a digitalization of transaction. In crypto currencies typically we store money form of Bit coin. Everything has some advantages and disadvantages, so similarly crypto currencies has some advantages and disadvantages.

Some advantages are:

1. We can use it in international level.
2. It is faster.
3. We don't need to go to the bank and standing in a queue. It saves our time.

Some disadvantages are :

1. To access it need internet connection and some devices like mobile, computer, tablet etc. So it is not affordable for some people.

2. When using internet need to be aware in the internet nothing is secure. So be careful when access the internet.

At the end, my conclusion is apart of some security issues it has bright future.