Bitcoin is the most popular digital currency which is not owned by any organisation or a single person and is making waves in the investing world. While there remain several unanswered questions on the safety of the digital currency, Nikita Singh highlights the pros and cons of investing in Bitcoin.
Whole investing world is gripped by the phenomenon called “Bitcoin” and it is indeed creating interest among more and more investors and traders as its price touches the roof. What is a bitcoin? Does it have a future at all? How do I trade in bitcoin? What are the potential risks involved in trading or buying bitcoin?
WHAT IS CRYPTOCURRENCY?
The term cryptocurrency is defines as 'currencies that can only be purchased or traded online'. These currencies, a hybrid of virtual money and sophisticated technology, operate beyond the clutches of oligarchic censorship and regulation. They are independent of any government entity and represent not completely anonymous, but unregulated, unmonitored and untraceable ways of instant monetary transactions with zero fees. These transactions are global and immediate.
The cryptocurrency proclaims to be an anarchical revolution in the face of other regulated world currencies, bypassing all the fees, regulations and delays associated with other currency transactions. These currencies also retain transaction security by enabling anonymous, irreversible and untraceable methods for online transfer of funds.
WHAT IS A BITCOIN?
Bitcoin is the first cryptocurrency. It is an independent trust network of cryptographic currency enabling irreversible and unregulated transaction through blockchain technology.
HOW IT CAME INTO EXISTENCE?
This story is from the December 10, 2017 edition of Dalal Street Investment Journal.
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This story is from the December 10, 2017 edition of Dalal Street Investment Journal.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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