Future of Crypto Currencies

Bitcoin is most popular crypto currency. It is not legal and there is no authority control over it. It is independent of any other country currency like dollar, yen etc. Every one who is know about it can use it easily and profit. But everything has some bad effect it also does. It fluctuates and hacks by anyone easily. If it falls then people loss their own main money and suffer crisis. But. If rupee falls then it effects all the country means thing rate also falls but its not happen with crypto currency.

Hi, All

Transaction or working with crypto is said to be a game of rich ones. Blockchain technique which is the first time used for developing crypto is undoubtedly a marvellous thing. But that should be used for other transactions which is valuable in terms of physical properties.

Crypto is something which does not exist, not linked to any physical parameter so it may be capable of building a bubble. That will ultimately burst.

Thanks.

Hello friends,

As all know about cryptocurrency. It is a virtual currency that is based on blockchain technology. Cryptocurrencies are of different types some of them are BITCOIN, DOGECOIN, ENTHEREUM etc.

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.

Thank you.

Cryptocurrency is based on blockchain technology which is good for not only the banking sector but also for other sectors also so in future there is chance that cryptocurrency compete with the other financial institutions and also contribute in the growth of economy of India.

In my opinion, crypto currencies has great future. It has both merits and demerits. One of the best advantages of cryptocurrency, as it minimizes the corruption. It helps to reduce black money generation. The only point on demerits is its data security. As it is base on digital platform, the security of its transaction and delivery shall be considered. Till know bitcoin is a major player in cryptocurrency.

Hello everyone,

First of all, we will see what is meant by cryptocurrency, it is the digital currency in the form of bitcoin, ether and Bitcoin. In 2009, cryptocurrency came into the market. This digital currency we can buy and sell in the international market and for it internet is required. Like everything in the world have two sides hence it also has positive points and also some negative points.

Positive points-.

It is a faster process as it linked with the international market.
It is a convenient way for investment.
One can do this as a business and earn some profits.
No third party is involved so no hidden and other charges.
We can anytime buy or sell this cryptocurrency.
It is a decentralized currency.

Negative points-.

Government authority or any banks are not involved in cryptocurrency so the risk of security is there and also we can't complain about any fraud to these authorities.

There is a high risk involved in this business as it is linked with the international market so sometimes loss occurs.
RBI didn't support it so no legal organization is there to keep watch on it.
Cybersecurity is not so strong.
Mostly this type of currency is used by terrorists and other such organizations.
Chances of corruption are there.
The conclusion is that in future government authority will give legal permission to it as its use is increasing day by day and also works on its negative points.

Thanks a lot.

Hello everyone,

Crypto currency is a virtual or digital currency whose transaction is secured and controlled by cryptography. As this is a decentralized monetary system govt has no authority on it and it's averse towards inflation so it is more likely to gain huge attention in future, but this may lead to an increase in corruption due to its anonymous nature, illegal activities like weapon procurement also can be done by this easily but this is going grow tremendously in future for sure.

Crypto currencies will only remain a purchasable asset and of limited utility until there's sustainable solutions to the energy demands it carries. Without reasonable regulations on the matter of energy usage, this emerging technology could only cause more and more environmental damage.

Cryptocurrency is the technology of blockchain and blockchain technology means a decentralisation database.
Decentralisation means a sole company in one sole personal authorised database and that's why BI is less possibility of data and information being misused.

Cryptocurrencies have made an important role in the current trend, in this Covid crisis many of them do not go to the bank they made an easy payment online and it will remove the black money or corruption, in my point of view cryptocurrencies are good for the better future.