This is the digital era where humans are solely dependent on technology. The virtual world has taken major control of life. Technologies are evolving every day and some or the other new things are getting added to it. Nowadays there is a buzz around cryptocurrency and Bitcoin, you surely have heard about it, right? But do you have a clear concept about the entire thing? If not, you are not alone. There are numerous people who are just acquainted about the term but not the details. Here in this blog, we will talk about cryptocurrency and Bitcoin in nutshell.
We are all aware of online fund transfers. We barely use cash amounts now, all the transactions starting from ticket booking, purchasing garments, ordering food to paying bills are processed through the online transaction methods. To modify and rather improve the online transaction in a different way, the concept of cryptocurrency hit the market.
What is cryptocurrency? Basically, this is a digital currency with which you can make various transactions in terms of money or digital currency itself. Bitcoin is the most popular and expensive one among all other cryptocurrencies available in the market. However, do you transact with Bitcoin? No, because you don’t have one and you are clueless about how to get it. Well getting Bitcoin is not that easy. Firstly, it is damn expensive and secondly it is limited. But Bitcoin is going to rule the market soon as the investors are thinking why not try these out. It helps in a secure transaction where no interference of the central organizations is involved. Each of the transaction details are secured with a block and thus for each Bitcoin, chains of blocks are created. This is an associated technology called blockchain.
These are the basic things, for more information, follow our next blogs.