What is cryptocurrency ? Future of Cryptocurrency In India.

Crypto currency

Hello friends , today we are going to discuss crypto currency and it's future in India. see, Technology is growing with time and technology always come with replacement few older things , so for example 25-30 years back we needed to stand in queue in bank to get cash , but now in few minutes we can get money from ATM machine .In the same way , a cryptocurrency is a form of digital money which is designed to work as a medium of exchange and uses a cryptography method to keep it secure the transaction. You can purchase anything by using crypto currency . Now the question is how it is secure?For answering this question first we need to understand current currency system .When you buy something online and you make a online payment ,at that time there are a third party who  are watching your money .Now these third party are none other then central banks and other banks.We can not trust any one , it may be possible that the person who are watching my online transaction ,can not be loyal and he can think of using my account. But In case of crypto currency there are very less possibility , because all the transaction will happen directly , there will not be any third party . Second thing because of third party we are  paying more than  actual cost , for example if you are paying via Paypal or Payu it means some amount is also goes to these company , because of which price of products get increased.There are various of crypto currency like Bitcoin (BTC) , Litecoins (LTC) , Ethereum (ETH) ,Zcash (ZEC) ,Dash,Ripple (XRP) , Monero (XMR) . All these are kind of money which can be used to any kind of transactions . Currently 22 countries are supporting crypto currency . So basically in these 22 country people can make any online transaction using Bitcoin .Now if we talk about India, In India crypto currency is banned by RBI. So basically RBI has instructed to all banks , do not use crypto currency as online transaction . But In India all banks do not comes under RBI . So any banks which do not comes under RBI can easily use crypto currency .by using trading one can earn from Bitcoins , Trading is like you buy bitcoin at one value and sell them at another value. If selling value is higher than buying, you will make profit out of it. It is just like Land , If demand of Land in certain area if high it's price will automatically increase. Or to make you more clear , suppose today you have 100 bitcoins and there are only 1000000 bitcoins are available in market and everyone is looking for bitcoins in that case you are going to get a bigger profit.