Crypto currencies are digital money and they don’t have any physical form.
The leader in crypto currency, bitcoin, unlike other currencies implements peer-to-peer technology and is not controlled by any federal government. And that’s exactly what makes their usage so transparent and anonymous.
The leading players in crypto currencies are as follows:
Bitcoins, like any other currency can be used to purchase goods and services, however the basic difference is that to open any other bank account requires verifying numerous documents, however to open a bitcoin account no personally identifiable information about the user is required
at any point.
The price of these coins has surpassed expectations and the existing prices today are as follows:
The concept simply relies on a personal wallet using which a user may send and receive bitcoins.
Authenticity of a transaction is ensured with the help of a unique key pair corresponding to the sender’s Bitcoin account.
In addition, all transactions which happen through Bitcoins are recorded on a public ledger commonly referred to as “block chain” that further ensures the validation of each transaction.
Acknowledged by one of the best-known entrepreneurs of the personal computer revolution as a technological tour de force, Bitcoin is sure to go a long way.
All in All, Bitcoin is an open-source and public by design with no central control yet unmatched authenticity.