Exploring Blockchain, Bitcoin, and Other Digital Currency Platforms
Our world is moving towards digitization. Carrying hard cash or trade with cash transactions at any retail stores can be minimized. Everywhere you can experience cashless transaction. Smartphones are contributing a lot to the success of digital money. It is an internet based currency which has the same valuation as physical notes. People can exchange money online easily for buying and selling.
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Even the small traders are accepting this digitization of currency notes. The blockchain is another key term related to online transactions. It is a digital ledger with a variety of users. Bitcoin and digital currencies also play an important role here. In the digital world, security is an important concern while transacting online. The block chain helps to share info without copying.
List of vital cryptocurrencies –
The digital currency is not restricted to one or two names. Today, you can see many competitors within the Digital Currency platform. Rather than bitcoin, we will present you some more list of digital currency.
- Ethereum (ETH) – This is a cryptocurrency with its launch in the year 2015. The main aim of this technology is to control fraud, and downtime while operating.
- Ripple (XRP) – You can receive international payment at very low cost through this real-time global settlement network.
- Litecoin (LTC) – Charlie Lee was the inventor of this cryptocurrency in the year 2011. It is the entry level global payment network with faster transaction confirmation.
- Zacash (ZEC) – This is a cryptocurrency that has been decentralized. It is the very new platform that was launched in 2016. The makers of Zacash claims to provide extra security to your privacy. All the details will remain private.
Future of digital currency –
Bitcoin is a popular name in the digital currency network. In more than 45 national currencies, active digital currency market runs day and night. It creates an ease in the life of each individual. Transaction becomes quite easy without the need of carrying hard cash. Future expects more expansion of digital currencies across the globe. More countries will come to accept bitcoin as the price continues to increase and the acceptance grow even wilder by the day; which is why more people will continue to enjoy the pleasure of trading through digital currency.
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Benefits of digital currency –
Digital currencies like bitcoin and other cryptocurrencies completely eliminates the need for central banks and conventional or commercial banks and all their unnecessary stress and bills with little or no transfer charges and exchange speed as you can transfer fund to people all over the world without limit.
digital currency trading platform pros.
- Finding theft – When you are transacting through debit or credit card, you give all access to your card to the merchant. The operation is done with the pull mechanism. But, with cryptocurrency, the push mechanism is used. Thus, the user will send exactly the sum which he wishes to send to the merchant.
- Access to all – At the present time, internet (web service) is an important medium of communication and information. Around 2.2 billion individuals can operate the internet very well. Since digital currency runs with the help of the internet, most people can access the service.
- Low fees – Cryptocurrency exchange transaction fees are quite less. Most of the digital currency platform are absolutely free. Thus, people with lower income group can avail this benefit. More users can own bitcoin wallets.
- Instant fund transfer – With cryptocurrency, there is no need to run from pillar to post waiting for someone to do the transfer for you like in the commercial banking system because all can be done from the comfort of your mobile phone within seconds no matter the location of the person you are transferring to.
Conclusion
Cryptocurrency is the future of money, it is the money for the new digital world we are currently living in and this type of currency is here to stay and there is nothing anybody can do to change this and the earlier you learn to accept it and start using it the better.
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