Bitcoin is a cryptocurrency and worldwide payment system.It is the first decentralized digital currency, as the system works without a central bank or single administrator.The network is peer-to-peer and transactions take place between users directly, without an intermediary.These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.

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Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies,products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.Research produced by the University of Cambridge estimates that in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.

Since the evolution of Bitcoin, there are numerous amount of cryptocurrencies not exist in the market that can be traded against bitcoin itself or national currencies depends on the exchanges. You may find complete list of currencies and exchanges here on our website itself.

What is Cryptocurrency?

A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.
Decade old parallel monetary system exploiting flaws of current system where power being in hands of limited and constant failure or rejection of economy from time to time require decentralised blockchain system where fate of money is decided by each person holding it.
Cryptocurrencies make it easier to transfer funds between two parties in a transaction; these transfers are facilitated through the use of public and private keys for security purposes. These fund transfers are done with minimal processing fees, allowing users to avoid the steep fees charged by most banks and financial institutions for wire transfers.

Why Cryptocurrency?

The global economy is inevitably moving towards a digital eco-system. From investment to money transfer, everything is going paperless. The newest and most promising addition to the digital payment sector is cryptocurrency:

1.Fraud-proof
2.Cost Efficient
3.Instant Settlement
4.Open Ledger

In our society, we normally rely on trusted third parties, such as lawyers, courts, banks and governments to process and keep authoritative records about commercial transactions.These third parties are trusted because we rely on them. If they fail or lie, we suffer.
Cryptocurrencies are interesting because the integrity of the contents of the distributed ledger does not rely on any specific individual or organization. So, rather than relying on trusted third-party organizations to facilitate these commercial transactions, we might instead rely on a trusted blockchain system.This means Cryptocurrencies give us new opportunities to rethink how parts of our society work. Innovation here might reduce friction in the economy, or create new kinds of services and ways of doing business with each other.

How Cryptocurrency trading is different?

Today there are more than 1400 cryptocurrencies available and with extreme volatility they also generate heavy rate of returns with 365 days 24 hour open market comes with promising trading window for all however it is highly recommended to consult Crypto experts for trading tips ,guidance and few innovative players have emerged as handling the complete portfolio for you delivering extremely satisfying rate on investments.

A blockchain is a decentralized and distributed digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the collusion of the network.
A blockchain database consists of two kinds of records: transactions and blocks. Blocks hold batches of valid transactions that are hashed and encoded into a Merkle tree. Each block includes the hash of the prior block in the blockchain, linking the two. The linked blocks form a chain.

The first blockchain was conceptualized in 2008 by an anonymous person or group known as Satoshi Nakamoto and implemented in 2009 as a core component of bitcoin where it serves as the public ledger for all transactions.The invention of the blockchain for bitcoin made it the first digital currency to solve the double spending problem without the need of a trusted authority or central server.The bitcoin design has been the inspiration for other applications.

Is it legal?

To the best of our knowledge, Cryptocurrencies have not been made illegal by legislation in most jurisdictions. However, some jurisdictions (such as Argentina and Russia) severely restrict or ban foreign currencies. Other jurisdictions (such as Thailand) may limit the licensing of certain entities such as Bitcoin exchanges where country like Japan accepted as legal tender.Major countries now are moving ahead with time and adopting cryptocurrencies as legal tender or regulated at least,as we see world showing extreme strong interest in crypto market makes no other choice but to accept and allow to be traded as parallel asset class.

Is it Regulated?

The protocol itself cannot be modified without the cooperation of nearly all its users, who choose what software they use. Attempting to assign special rights to a local authority in the rules of the global network is not a practical possibility. Any rich organization could choose to invest in mining hardware to control half of the computing power of the network and become able to block or reverse recent transactions. However, there is no guarantee that they could retain this power since this requires to invest as much than all other miners in the world.

It is however possible to regulate the use of Cryptocurrencies in a similar way to any other instrument. Just like the dollar, coins can be used for a wide variety of purposes, some of which can be considered legitimate or not as per each jurisdiction’s laws. In this regard, Crypto coins are no different than any other tool or resource and can be subjected to different regulations in each country. Crypto coins use could also be made difficult by restrictive regulations, in which case it is hard to determine what percentage of users would keep using the technology. A government that chooses to ban would prevent domestic businesses and markets from developing, shifting innovation to other countries. The challenge for regulators, as always, is to develop efficient solutions while not impairing the growth of new emerging markets and businesses.

What tax implication could be expected with profits?

Cryptocoins are not a fiat currency with legal tender status in major jurisdiction, but often tax liability accrues regardless of the medium used. There is a wide variety of legislation in many different jurisdictions which could cause income, sales, payroll, capital gains, or some other form of tax liability to arise.Please contact financial consultants or crypto experts to have a clarity over tax rates and treatment of income generated from cryptocurrencies in your juridiction.

Bitcoin is a cryptocurrency and worldwide payment system.It is the first decentralized digital currency, as the system works without a central bank or single administrator.The network is peer-to-peer and transactions take place between users directly, without an intermediary.These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies,products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.Research produced by the University of Cambridge estimates that in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.

In the world of cryptocurrencies, especially bitcoin, you will often hear the word ‘forking’. So far in bitcoin, two major forks have taken place, which have led to the birth of many cryptocurrencies—bitcoin cash and bitcoin gold and others.Let’s try to understand forking and its impact.

What is forking?

Forking happens because a set of miners, who create coin, believe that there are more efficient options than the existing blockchain. Forking implies a splitting of the chain on which coin runs; making it go in a different direction—with different rules than the existing blockchain as the two would now have different visions . “For example, bitcoin cash changed the block size, which means that blocks can be greater than 8 MB while bitcoin continues with 1 MB blocks. When the miners disagree with the existing rules of bitcoin, the blockchain forks or splits into two different blockchains which have different rules.

Hard and soft fork concept.

There are two kinds of forking. “Hard fork is a permanent divergence in blockchain. If a hard fork happens, then it is possible that the older coin blockchain will be scrapped in place of the upgraded one. This means that all nodes—of miners, merchants and users— will need to upgrade to the new nodes to be able to validate the new blocks. This is necessary as non-upgraded nodes will reject blocks created by upgraded nodes. In case of soft fork, there are only protocol changes and coin continues to work on the original blockchain rules. For example,to date the following coins have or will soon emerge after software client fork of bitcoin core: bitcoin XT, bitcoin classic, bitcoin unlimited, bitcoin cash, bitcoin gold, SegWit2x, litecoin, dash and zcash.