What is Crypto currency and its benefits ?


What is Crypto currency ?

Crypto currencies are digital currencies which are not backed by any government or central bank. They use cryptography to secure transactions and to control the creation of new units.

The Indian government has, for the first time, imposed a ban on the use of crypto currency in India. The government has also issued a public advisory against investing in cryptocurrencies.

This is not a new development. The government had previously cautioned investors about the risks involved with cryptocurrencies. Now, it is banning them altogether.

Cryptocurrencies are a form of digital currency that is designed to be secure and anonymous. Bitcoin, the first decentralized cryptocurrency, was created in 2009. Today, cryptocurrencies are used worldwide as a store of wealth and as an investment.

Crypto currencies have been banned by the Indian government on 6th April 2018 because they were not backed by any assets and were highly volatile in nature. This ban is expected to prevent frauds and scams related to crypto currencies.

There are many benefits of using crypto currencies.

  • One of the most important benefits is that it is decentralized, meaning that there is no central authority which regulates it.
  • This means that you don’t have to worry about your money being controlled by a single organization.
  • Another benefit is that there are no transaction fees when using crypto currencies, whereas when using traditional payment methods such as credit cards and PayPal, you will be charged a fee for every transaction.
  • Crypto currency transactions also happen quickly and can be done anonymously, meaning that you can keep your personal information safe from hackers or other malicious entities.

However, there are also drawbacks to using crypto currencies. One drawback is that they’re volatile in price – their value changes rapidly over time because they’re not backed by anything tangible like gold or silver. The price of Bitcoin has been

Few More points about Crypto currency :

– It is a decentralized currency that is not controlled by any government or bank.

– It has low transaction fees and can be transferred instantly.

– The transactions are irreversible and there is no way to track them.

– Transactions cannot be frozen or reversed by the sender.

Crypto currency drawbacks:

– There are many scams in the crypto market that have caused investors to lose their money.

– There are no regulations on crypto market, which makes it more difficult for people to invest in it.

– Crypto currencies can be used for illegal activities such as money laundering and drug dealing because of the anonymity of transactions.

– The value of crypto currencies can fluctuate wildly because they are not backed by anything tangible like gold or a country’s economy, which makes it hard for people to know what they’re investing in when they buy into a new one.

Crypto currencies have become an increasingly popular topic in recent years. The benefits and drawbacks of crypto currencies are often discussed. This article will discuss the benefits and drawbacks of crypto currencies, as well as some possible future use cases for them.

Crypto currency is a digital currency that uses cryptography to secure transactions, control the creation of new units, and verify the transfer of funds. As a result, transactions are secure and cannot be altered by anyone once they are confirmed on the blockchain ledger.

The main benefit to using crypto currency is that it’s decentralized – meaning there is no central bank or government that controls it.

This means no one can change or manipulate the rules of how it works without agreement from all users in order to create consensus.

The downside to this is that there is no one who can help you if you lose your private key (which stores your digital identity). In order to prevent this from happening, it’s important not to store your private


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