We are living in a world were almost everything made into a virtual object , it would be a surprise if we did not catch up along with the time and knew about the present changes made in the world of currency and how a sing currency can be made use of in every sing country, and there is no need of changes to take place in this in another country as the price of the cryptocurrency never changes . Here are few know about things that will equip you into understanding and making use of this currency.
The invention of Bitcoin came into existence with the invention of it Bitcoin currency by Santoshi Nakamoto he is as well-known as his invention is in his announcement of the invention of the Bitcoin system in late 2008 , he stated that it was invented just to have a peer to peer cash system .
It is a digital asset designed to work as a medium of exchange that is used to secure any financial transaction made through this system, and cryptocurrency uses decentralized control as opposed to the centralized currency and digital banking system. The release of the bitcoin system made it the first decentralized currency used.
The concept of currency was first introduced by David Chaum, he invented anonymous electronic money called as e-cash, in the later years he came up with the concept of Digicash it was early form of cryptographic electronic payment which was required of the user to have a softer to use in order to withdraw the money form the bank through the usage of a specific encrypted key before it can be sent to the receiver, thus making it undiscoverable by any government , bank or any other private organization
Many forms of cryptocurrencies have been created, but due to a less inflow of transaction, they had to be shut down. In the mid 1900’s when a huge bank heist took place in a cryptocurrency trading company it went under a huge financial loss and the value of it coin dropped down drastically and it was a huge loss to all the owners of bitcoins but in the recent years there has been a huge sweep in its value and it all those people who thought it to be a loss owning the bitcoins after have a huge profit jump now are going above and beyond in getting more bitcoins, so that in the future the value of the bitcoin will increase and will be profited more on it .
There have also been various ways in withdrawing the bit coin money and through certain designated ATM for this purpose thus there is still a possibility that there could be another form of crypto currency which will override the value of the bit coin system and be of a much higher value.