Bitcoins are the world’s first cryptocurrency and they have huge popularity in some parts of the world. Just like our regular currency, Bitcoin is also valued currency but only virtual.
A single Bitcoin is worth around $7000 in 2019 and will soon reach the $8000 by 2020. So, with such great future prospects, here are 4 important things which you should know about it.
- The price of Bitcoin is volatile
the actual price of Bitcoins is volatile. It entirely depends on the demand and supply formula. Therefore the price of Bitcoins can rocket sky high within a few minutes or come crashing down in a few seconds.
the Bitcoin payment option is certainly the most transparent to have ever existed. The transactions you make are absolutely public, traceable, immutable, and publicly available. Hence, every Bitcoin seller or buyer will be able to access that information. But you don’t need to give away your name or address. Just use your Bitcoin exchange details.
just like any other currency in the world, Bitcoins to are taxable by the government. Any profits that you are going to make will be properly taxed by the government. In countries where it is accepted as legal money, people pay tax for possession of Bitcoins.
- Bitcoin is widely accepted
in many parts of the world, Bitcoins are considered as an important method of payment. Brands like Amazon, Expedia, Cheap Air, Microsoft, Dell, GAP, Victoria Secrets, etc. accept Bitcoins as an official method of payment. Similarly, more than 100,000 other retailers in different industries accept Bitcoins as one of the modes of payment.
Die analyze for the success of Bitcoins is still uncertain but you can be sure of one thing that the value of cryptocurrency is going to improve in the coming future. Bitcoins will hold a more important position in the future of our digital world.
Even though in cryptocurrencies bitcoin is the most valuable one there are still reasons why people are looking for a better cryptocurrency. This has to do with the scam überzeugt hat Bitcoin Superstar to be born. One of these cryptocurrencies is ripple.
What is ripple?
Ripple has been a real-time system that functions as a currency exchanging and remittance network made by the ripple labs. It is a United States-based technological company released in 202. It follows distributing open-source protocol and not only supports cryptocurrency but fiat currency, commodities, often flier miles and mobile minutes as well. they aim to achieve secure, instant and free global transaction of any volume without any chargebacks. Ripple’s ledger is based on the decentralized and native cryptocurrency popularly known as the XRP. It is the second largest coin by marketing capitalization. payment networks and banks have adopted ripple to serve as a settling infrastructure technology. It relies on shared and common ledger that stores all the knowledge about all the accounts. The ripple servers are allowed to belong to everyone, including market makers and banks. Ripple is fast, easy and secure as it takes only seconds for transmission of payment and even provides a payment notification without the delay of even a few seconds. However, the payments done can’t be reversed and no chargebacks are imposed.
Reasons why its value is thriving
Rise in altcoins like Litecoin has motivated users to look for new opportunities and avenues for investment. This is the reason why wild growth can be seen in many different cryptocurrencies like TRON, Cardano, Stellar, Bitcoin Cash, QTUM, Verge and Reddcoin. Since ripple is one of the oldest and securely established cryptocurrency, investors have quickly turned to it for crypto investing.
Ripple believe that there should be a transparent understanding between the emphasis on customer acquisition and partnerships. This relationship is the only way to make a company strive.