In today’s world, there are various countries. Each country has its own traditional language, fashion extra but there is one thing that connects all the nations and that is the money. No doubt different countries have different currencies like we have a dollar, India has rupees, Japan has yen and so on.
Wherever you are in the world you use the currency for buying something. But usually, people use cash credit cards or debit cards for the payment for the transaction. Nowadays there is a large demand for Bitcoin trade exchange or cryptocurrency exchange. Cryptocurrency is a type of currency which no one can see or touch. It is somewhere in cyberspace.
Bitcoin is the first decentralized cryptocurrency. Bitcoin can be used by the person anytime and anywhere in the world as it does not require help from banks or 3rd party agencies 4 the transaction. It can be directly transferred from one Bitcoin wallet to another Bitcoin wallet and is safe as compared to other transactions. Around the world, for any legal transaction, there is a need for a bank or other agency.
It should be noted that even how much currency is to be printed or to be made Entirely depends on the decision of the government and banks. But in the case of bitcoins, there is no role of the government or banks or any other third party. The transactions are fully encrypted in the case of bitcoins. A dumb person receiving Bitcoin does not get money but gets codes that are the digital currency. If you want to invest in bitcoin visit here Ethereum code.
Bitcoins were first introduced to the world on the 3rd of Jan 2009. It was developed by a programmer. On 22nd May 2010 for the first time, 2 by one pizza 10,000 Bitcoin were offered and it was the first transaction to be made in the form of bitcoins. In its initial phase bitcoins were not known by everyone. There were only a few people who used to invest in bitcoins but if we look at bitcoins today, they are the most famous cryptocurrency on the Globe.
The emergence of cryptocurrency is due to many reasons but the most important or we can say the main reason behind it is security and the process of mining bitcoins. And no involvement of government banks and 3rd party agencies. In 2012 the cost of one Bitcoin was around rupees 6 But as more people came to know about Bitcoin and started considering it as a digital asset that will last in the future and may become the biggest banking system in the world in the 22nd-century people started investing in it.
The other reason for the emergence of Bitcoin is the total number of bitcoins that can be mined. The main problem behind corruption black money and other money-related scams are a large amount of money being produced. For example, no one knows how many dollars are in the world but in the case of bitcoins, the maximum number of bitcoins that can be mined is already set. After reaching that amount or number the bitcoins cannot be mined.
According to this logic by the year 2140 almost 2,10,00,000 that is 21,000,000 bitcoins will be mined and this is the last number of Bitcoin available in cyberspace which means after reaching the mark of 21,000,000 bitcoins cannot be mined.
There are various other reasons like the storage of bitcoins can be done in the Bitcoin wallet and one can buy anything from the bitcoins by just making the payment through the Bitcoin wallet. This is the digital asset that will be more convenient than other transactions shortly and that’s why the shares of Bitcoin are increasing at a rapid pace.