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Crypto currency today:

          Even though only a few people are coming under the fold of the crypto currency users especially that of the bitcoin, the numbers are albeit increasing slowly. As with anything new in the market fear of using the crypto currency is also felt by many and this is the reason why only a negligible number of people are using it at the global level. This has not yet used for any serious transactions but only where it is allowed keeping in mind that no serious repercussions might take place and you might end up losing your hard earned money. The bitcoin price has everything to do with it as it has been changing and fluctuating ever since it was adopted by people. Since no banking system is available for dealing with the bitcoin it is registered with the block chain or the peer group of likeminded members who use it only amongst themselves and they are few in number. This makes it easy to transact and the records are kept straight and safe and secure. If that is not ensured then the use of the bitcoin would come under serious question and consequences suffered would also be considerable.

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Facts check:

  • You need to make sure all the different important aspects of the bitcon before entering into dealing in it or exchanging in it.
  • The value has been fluctuating over the years even since it was made public and from a very small value of 0.30 USD in the year of inception that is 2011, it had come to more than 3000 USD in the previous year.
  • As mentioned earlier the bitcoin is used only where there are no serious consequences expected like playing in a casino, or simple transactions like paying for a drink or for some fun purposes where it would not make much of a difference on the economy.
  • Use of the bitcoin has its own advantages as it is quick, works out in a small circle and taxation is not applied and many other.
  • However experts also suggest that like the fiat currency the bitcoin price too would be affected by the political and economic changes that take place from time to time.