Crypto currency

Crypto Currency is the future of financial markets but what actually a crypto currency is?

A cryptocurrency is a digital asset designed to work as a medium of exchange (as alternative to conventional currency or also called "FIAT Currency") that uses cryptography (an encryption technique used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank) to secure its transactions, to control the creation of additional units, and to verify the transfer of assets.

Main feature of a crypto currency is decentralization. All banks are controlled or monitored by Central or State Banks which issues currencies which are called Fiat Currencies. Today all Fiat currencies are not backed by anything. Similarly Gold and Silver and other commodities have intrinsic value therefore there are buyers and sellers of all fiat currencies and commodities. In short, cryptocurrencies have gained popularity in investors and traders around the world due to being 100% security and non-control ability by the central government agencies.

Bitcoin is the pioneering crypto currency made in 2009 by Satoshi Nakamoto. In 2009 no one cared about it and the price for 1 Bitcoin was Rs.0.05 only. Today it is worth over $8,000 per Bitcoin approximately (21-04-2018). Bitcoin is made on Blockchain Technology which uses encryption techniques which are 100% secure and cannot be hacked. It will take over 1 million year for a hacker to break the code if he wants to try it.