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Fiat currency or Cryptocurrency?
Fiat Currency A fiat currency is managed by the central bank of the respective country. It is a government-issued currency such as the U.S. dollar, Rupees are fiat currencies. Based on the trade value set by people, the central bank decides the value of a fiat currency. This currency has no value without the authorization of the central bank. Over the last few decades, this currency is being used as a medium of exchange for an alternative commodity. This currency is not redeemable in gold or silver. Cryptocurrency A cryptocurrency is a form of payment that can be exchanged online for goods and services. It uses encryption to verify its…
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How hard are Investors facing issues in India for Cryptocurrencies?
Investors are keen about the investments in cryptocurrencies these days and in India, people rushing to invest in it like never before. Although it shows you big dreams, this could be dangerous too. As per blockchain data analysis, last April (2020), the investment in cryptocurrencies was $923 million, and this year it rises to $6.6 billion (Rs. 49,189 crores)! This might rise constantly as Indians are more attracted to cryptocurrencies these days. Due to the past Indian cryptocurrency market, this would be problematic. But Indians are celebrating this global investment without any stringent guidelines from the government. How popular is cryptocurrency in India? Back in April 2018, the central bank…
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Cryptocurrency in the market
A cryptocurrency is a form of payment that can be exchanged online for any goods and services you wish for. Blockchain technology is used in Cryptocurrencies. This blockchain is a decentralized technology spread across many computers to manage transaction records. The only appeal of this technology is its security. Owning or investing in some cryptocurrency can increase your financial investments with a risk management strategy. Since it is a digital currency, it can be used for transactions all around the world without having to pay the money. Not only this, but it can revolutionize the banking and finance sector as well. Buying and holding is the most common way of…
