Rise in Popularity of Cryptocurrency

Since time immemorial currency has been an integral part of our lives. In the caveman era they used the barter system and after that many epitome of currency took place but as the digital world is advancing rapidly currency has also taken digital form and this digital form of currency is known as Cryptocurrency.

Cryptocurrency is slowly and steadily becoming a popular form of payment. The growing curiosity about cryptocurrency around the globe attracts a wide range of people. As cryptocurrency is a virtual currency and there are multiple advantages of using it. The foremost advantage is no involvement of middlemen in the transaction which drives the transaction work faster, easier and requires less or no additional transaction fees. The popularity of Bitcoins has reached new levels such that they are presently being accepted for web hosting. Therefore the trend of bitcoin web hosting is presently a trending topic in the market.

As the cryptocurrency is decentralised, meaning it has no central authority. Which makes transactions secured and transparent? Corruption is eliminated and rampant inflation ends. Cryptocurrency offers an opportunity for international business parties to make exchanges online without the complications and added fees that generally come with international currency exchanges which involve third party. It makes international transactions way too easy. Just by using a phone the individual can transfer money. This is becoming a very popular way of dealing. Even in different countries companies are receiving and dealing in business by using cryptocurrency like bitcoins.

In this busy and developing world where everyone is engaged in their life its way too hard to visit banks for small transaction and if suddenly you run out of cash the only and the best option is using virtual currency which save your time and many people realise that “cryptocurrency is money for digital age”. In India the growth of cryptocurrency is slow in comparison with other countries. The foremost reason is that it was illegal in India but now in March 2020 Supreme Court makes all the cryptocurrency activities like investing and trading legal. Now slowly but firmly it’s becoming a popular form of payment among the population of India.

Facebook, PayPal, Amazon, Walmart like big companies are using cryptocurrency. USA, Japan, China, Spain are top and sizable users of cryptocurrency. As well as Elon Musk, Jack Dorsey, Mike Tyson, Kanye West like famous and rich people are using this method of payment.

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