What Is Crypto Currency

What is Crypto Currency

Unless you have been living under a stone for the past few years, you will have heard term Crypto Currency

You might have even wondered if it is was, or is legal, because their have been so many Television programmes which put it down.

Crypto Currency is not illegal, its just not liked by the banks very much.Those reasons will become obvious as you read on.

BTC  or BitCoin

Was the very first currency to enter the Crypto Currency world, way back in 2008, on August 18 to be exact

The founder was  Satoshi Nakamoto 

It took time to take off, but with the banks worldwide slowly going into meltdown, the popularity of BTC grew worldwide

In its simplest form, BTC is a peer to Peer  digital currency, which is not regulated or operated by the banks

So one person with a BTC account can use the currency to trade online with someone else who also has a BTC account

BTC can be withdrawn at a variety of BTC ATMs which are in selected locations, normally major cities.

BTC currently is worth an Estimated $8, 700 

That said, at its highest peak so far, it reached close to $20,000

 

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International Banks

Have very definitely, taken a dislike to the digital currency, albeit slowly, but that dislike has grown across the globe

The major reason they have taken a dislike to the currency is because, they get get by passed in transactions

Another reason is that they can’t charge any fees and so won’t make any money out of you or I in the way they do normally through

Mortgages

Credit Cards

Bank Loans

In fact this dislike, actually let to a number of banks, refusing to deal with BTC exchanges who wanted to transfer BTC money to your account

In addition to BTC, there are other versions of the coin which are

Ethereum

Bitcoin Cash

Litecoin

 

These were developed as alternatives to the Main BTC coin and while they operate in much the same way, are not as popular as the original BTC

To be clear, there is nothing illegal about BTC, it has been and will continue to be around for years. At one point going back to aropund 2009, if you wanted to cash your BTC in, then with ease you would have become a millionaire overnight

If you are thinking about, or have ventures that use BTC and are considering using them for making money purposes, then there is nothing wrong with that

You just need to understand that if you want to become rich with BTC, then it may not be the vehicle for you to achieve this.

The reason why is because the value of it wil go up as much as it will go down and in some ways should be treated like stocks and shares

But it is worth having some BTC, because the future currency of the world, will undoubtedly be digitial

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