What is a Bitcoin? a cryptocurrency!

Cyptocurrencies could probably be the future of business. In the recent years people’s life has been full of content coming from the internet platforms such as YouTube, Facebook, Twitter. These platforms made the raise to stardom so easy that they almost became the most lucrative platforms for Millennials. Nowadays, a phenomenon named Bitcoin took over the world with more than 12.000 dollars of transactions value on the market, Bitcoin is by far the most successful of what could be called “online currency”.

bitcoin                           retrieved from: bitcoin.org

The success of Bitcoin left the investors and people with many questions about the nature of the currency. What is a cyptocurrency? A cryptocurrency is a digital or virtual currency designed to work as a medium of exchange according to cointelegraph.com. A cryptocurrency as it sound could make our daily transactions easy. Often people uses the internet to ease the process of their transactions such as PayPal , Apple Pay, Chase Pay just to name a few. An internet currency could change the world of economy as we view it and make it even easier for millennials to trade. The millennials are bigger investor when it comes to cryptocurrencies as shows the chart below. The younger generation are dependent to the internet when it comes to entertainment or education, it may be useful when it comes financial stability. The chart shows that people from the below 18 years old to 34 years old are more active investors in them than people from 35 and plus.

bitcoin-user age               retrieved from: coindesk.com

Bitcoin uses the process of cryptography to secure every transactions and can even verify it. Even though, a Cryptography is ” a method of storing and transmitting data in a particular form so that only those for whom it is intended can read and process it” according EconomicTimes.com. the cryptography is the most secure way to do any transaction on the internet. It could go to one point to another without the involvement of hackers. Cryptocurrencies could be the beginning of a wide variety of new businesses which provides a great ecosystem for a stable economy in the U.S. The most common cryptocurrency are Bitcoin, Etherum, Lite coin, and Bitcoin Cash.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s