It’s not been a while since the terms like “cryptocurrency” or “Bitcoin” have gathered much name and fame in
the news. Many people are rushing towards stepping into this digital trade, leaving the well-trusted share market that has been trusted over since ages. So, what in all is this whole stuff about? If we truly glance at the stats, not much people who are even dealing with these are aware of the insights. But just as it always goes, follow the media or follow the heard. But still, if so much attention is being diverted towards this field, one must gain knowledge in depth about the subject.
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Here, let’s try and understand the true meaning of Bitcoin and cryptocurrency world. Cryptocurrency simply means a digital form of currency, which operates using certain encryption methods to regulate the inception of currency units and hence verify the transfer of funds. This seems hard to understand just because it is not real money. It is digital money which is a virtual form of currency, unlike the dollars or euro’s we can grab in hand directly while trading.
Now comes bitcoin, which is a form of digital currency and as of today an intercontinental payment system. Being the first and most successful decentralized cryptocurrency, bitcoin is often referred as the sole administrator of the digital arena. But as the trend goes since ages, the more popular you are the more responsible and alert you should be. Similarly, in the past year as bitcoin saw a boom in its traction, bitcoin also came across some major setbacks.
Now all the media is heading to Minerva, which is assumed to be bitcoin’s greatest competitor. The reason lies in the new features Minerva will be offering to its members including reverse transaction fee. It would be great to watch who actually wins the race, Bitcoin or Minerva.