What is Crypto currency?




image copyrights - bitcoin.org

It's a pretty famous in the daily chit chats among lot of us that what is Bitcoin? What is Ethereum? And other currencies. So to give an outstanding set of articles regarding Crypto Currency, we at kisaki thought it's cool to give an introduction to crypto currency in the first.


Where it got started?

Simply the concept of Crypto currency is something to exchange the value or to do transaction where it comes from the ancient period. So Crypto Currency is simply a type value exchange mechanism based on digital transaction methodologies such as block chain.

World's famous Crypto Currency BitCoin gave the mass public outbreak to Crypto Currency in 9th of January 2009 by a unknown person named Satoshi Nakamoto. Total 21,000,000 amount of bitcoins will be released in the end of cycle as per the official messages which were published. 


What is it really?

In Crypto Currency there needs to be a special architecture to build it, Initially this architecture or the technology is known as distributed digital ledger where it will be updated where it came from and who is the current owner and lot of information where it's known as impossible to hack and change the information in the file or source code.


Who uses it?

As simple as a common currency such as US Dollars, Euros, Yens and etc, people have started using crypto currencies in typical payment methods if the service provider or accept it. 


Investors

For the moment Crypto Currency is used by investors and traders around the world as a popular method of investing with the rapid price variations in the supply and demand. 


Arms Dealers

Many arms dealers worldwide use Crypto Currencies undetected payment method to do transactions without making traceable remarks.


Hackers

Hacker groups also use Crypto Currency to receive payments from faulty and hacking into systems worldwide by demanding payments via Crypto Currencies.

Retailers

There are many retailers who accept Crypto Currencies in the world as payment methods.


Car Dealership

Car Dealerships in California and Italy and China are accepting payments from Crypto Currencies from their customers. 

Pros and Cons in Crypto Currency


The major risk in Crypto Currency, If you are an investor or trader in Equities and Commodities do more research on Crypto Currencies because the spread is so high and the supply and demand getting change very quickly than in equity and commodities. Yes much more than Forex.

If you are a retailer who is planning to accept Crypto Currencies in you place, analyze the Crypto Currency pricing very well and decide when to exchange your crypto currencies to common currencies in best way. It could be profitable or loss for your wallet or the bank statement in the end. Let me tell you why, Imagine you purchase a milk bottles from a distributor for 2USD and you sell the milk bottle for 2.10USD equivalent in Crypto Currency. Imagine you exchange the funds to common currency in the month end and your when your 2.10USD equivalent Crypto Currency worth 10USD? It's a profit for you but it could happen in the other way as well. So you need to stay in touch with the Crypto Currency markets and play smart.

One of the major issue is high fees by the service providers in the market to exchange Crypto Currencies and fund transferring to Buy Crypto Currencies. 

So it will be really good opportunity if you plan well on before you jump and adopting Crypto Currencies.