Cryptocurrencies are becoming a new normal globally. Many countries around the world are using cryptocurrencies as a test run. Recently Elon Musk, the founder of Tesla Motors and Space X, has purchased 1 billion dollars’ worth of bitcoin. This purchasing of Mask make people more interested in cryptocurrency.
History of cryptocurrency
In 2009, Satoshi Takemoto, a guy or a group of developers, published a paper about the first online currency. Thus bitcoin comes into the spotlight. Bitcoin is not any physical currency. Bitcoin is the most popular cryptocurrency to this day. Today you have to pay $40000 to buy a bitcoin. But bitcoin is not the only option in the market. Ethereal, Finance Coin, Polka dot are also making their position in the cryptocurrency market.
Why is cryptocurrency so popular?
You can use cryptocurrency at your regular uses in first world countries. Physical currencies are not stock. But you can use cryptocurrency like a stock because the price is rising every day. So investing money here can be a good option. You can use cryptocurrency worldwide.
Concerns regarding cryptocurrency
cryptocurrency exchanges through a technology familiar as the block chain. Government or anyone cannot trace this process. So, there are options for illegal exchanging. Criminals can use it for their interest.
Why should it be legal?
In this free world, cryptocurrency is the real game-changer. You can use this online currency anywhere you want. Countries using cryptocurrency legally fix taxes over the exchanging. Thus the government has made it legal. You can purchase any product from any place in the world; now, you have to complete this process using physical currencies.
Another concern was about criminal’s risk-free exchanging. See, you cannot ignore a larger population from s=using the most updated technology of the day for the smaller interest. So, cryptocurrencies should make a legal currency for the whole world.