What is Cryptocurrency and Bitcoin ? The exact answer is the digital money. If you are having money in your paytm account or bank account, that all the things are comes under the physical money and legal Taxable cash.
Bitcoin is a part of Cryptocurrency, different types bitcoins are available through out the world, each and every coins value is different.
Opposite of physical cash is known as the Digital cash. Each and every country as the currencies, but all the currencies are different values. For example USD of 1 to Inr mean around the 73 Rupees.
What is Cryptocurrency and How Does it Work
Your are sending money to your friend through the google pay, First step is your assigning the amount in the google pay then selecting the cash after that the choosing your friends.
Formula of General You- Google PAY – Bank – Your Friend
Formula of Cryptocurrency YOU – BLOCKCHAIN – Friend
Bank vs Cryptocurrency
One and More bank transactions are registered in the bank statement But Cryptocurrency transactions are not registered in anywhere.
Sender and Receiver- The bank statement its like sender and the receiver detail ls are available in Bank. Cryptocurrency Statement are not available in Anywhere. Some transactions happened only known everybody know.
Pros of Crypto Transaction
Sender and Receiver- Nobody in the intermediate so No one unable to gather the information about the transaction. No one owner of this is the main advantages.
The blockchain concept are happening in the bitcoin transfer. The general transfer bank is intermediate have chance to change the money level but bitcoin transfer it has the less possibilities Because of blockchain.
Blockchain is the intermediate part of Crypto transfer, You sending fund to your friends mean all the blockchain are works for you if anybody wish to change that fund mean never possible that is major pros of crypto.
is Bitcoin is Safe
Some people are thinking bitcoins are not safe, that reason is the every day bitcoins values are very ups and downs. That Why all the members are confusing.
They are are thinking the amount goes high mean at that time I sell the coin i will get more money that is absolutely right and wrong.