What is Digital Currency- Bit Coin – The world of Digital Currency

What is digital currency In this materialistic world, different countries have different cultures, different traditions, different languages, different type of living standards, etc. But, one common thing through which we are connected to one another is Money. The result of daily work of human being is achieved in the form of money. We get money as Currency Notes which is made up of Paper. We can see this Currency Notes through our eye, feel its physical presence through touch mode and kept in our locker. The quantity of circulation of such physical currency notes is under the direct control of Bank and Government of a country. Whenever we visit any country, we use the currency notes of that country.

what is digital currency

But have you heard about such currencies which are not visible but still they have become the world’s most valuable currencies. Yes, this digital currency, named as Bit Coin. It is possible that many people have not heard about this Bit Coin and those who have heard, many of them still not knows what actually it is and how it works? In present time, the price of One Bit Coin in India is about Rs 13,49,760.

what is digital currency

It is also important to know why many people all over the world want to buy Bit Coin. Actually, Bit Coin is the world’s first decentralized Crypto currency created specifically for the digital world which can be used anywhere in this world. Through this Bit Coin, any person can send money to any other person of the world without the help of any bank or without involvement of third party agency. Millions of people all over the world are using Bit Coin instead of Normal Currency notes and now its starts showing its effect gradually in India as well.

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Bit Coin is a system which is not under the control of any Agency, Bank or Government of any country. It is a direct way of digital transactions between two people and is fully encrypted that is these transactions are completely Secured and Super Fast.

A programmer named Satoshi Nakamoto started Bit Coin on 3 January 2009 but the identity details of this programmer is not yet confirmed. However, after Bit Coin comes into existence, more and more people started buying it and accordingly India is not even untouched. For this reason, rapid exponential increase in the price of Bit Coin is going on and the process still continues.

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