Cryptocurrency is a digital coin which is not authorized by the government but still, people use it for online transition and online shopping. The first cryptocurrency was Bitcoin and it was released in 2009. It doesn’t have a physical form and used for online transactions only. However, there are lots of websites where the user can convert Cryptocurrencies in real money and transfer to your bank account. Even those websites are providing real-time exchange rates as well.
– It is very fast, easy and cheap to use.
– Cheaper (Or Free) than other monetary transactions like PayPal, Payoneer etc
– Fully secure.
– Your details are fully safe.
– Peer to Peer transaction and everyone can see each transaction.
– No boundaries for transaction
– Payment is not reversible.
– If you lose your wallet, there is no way to recover it back.
– Not all websites accept these digital currencies, only few website.
Basically, there are only two countries which are using cryptocurrency in advance mode Switzerland and Singapore. Slowly and steadily it is consolidating its position in World economic and we can see that from bitcoin.