There is a special interest in the youth about crypto currency and crypto currency like bitcoin has become very popular in India and about 100 million investors are found in India, which is the largest in the world in terms of numbers. The reason for the increasing interest in the crypto currency in India is the mixed returns that are attracting people.
Due to our taking this topic to write, we try to present any subject in front of you by amending any subject from the point of view of political, economic and psychological. You will find thousands of articles on Google about this, but we think that you will get information about any topic from all perspectives only on our blog.
It is our job to give information to many people in general language in its detailed manner, so here we will try to give you information on all aspects of crypto currency, so that we will try to give whatever knowledge you need about it.
What is cryptocurrency? –
The word cryptocurrency is basically made of two words in which one word is “crypto” which is Latin word meaning hidden and secret which is derived from the root word cryptography and currency means currency which we use for money. .
Crypto currency, this one, which is called digital money, we understand immediately, but the digital money we use normally is controlled by our government and the Reserve Bank, but no one has control over this crypto currency.
Adam Smith, in his book Wealth of the Nation, had put forward a principle in the people, demand and supply, it is the invisible hand of the economy, through which the economy runs. That which will not be subject to any sovereign state will run only on demand and supply.
Types of Cryptocurrency in Market –
By the way, work is done through 1800 crypto currency platforms all over the world. There are not as many stock markets in the world, as many crypto currency running organizations are available in today’s date, this makes you understand how much attraction you have in the people of crypto currency.
So here we will mainly tell here about the more popular crypto currency, which is running in the market today.
- BITCOIN / BITCOIN
- ETH / Ethereum
- DOGECOIN / Dodge Coin
- FAIR COIN / FAIR COIN
- LTC / Lite Coin
- DASH COIN /DASH COIN
- PPC / PIR Coin
- XRP / Ripple Coin
Cryptocurrency in India –
Talking about India, you will get to see the largest number of investors in the whole world, this figure is seen around 100 million and there are 16 crypto exchanges. If we look at the percentage, then this figure is seen to be 7% and the funniest thing is that number of investments are seen in suburbs than metro cities.
By the way, all the countries of the world have been concerned that this currency should not become synonymous with the legal currency of our country, so the Government of India recently wants to bring a bill in the Parliament regarding this, so that it should be regulated because we have done our own in 1990. Capitalist democracy has been accepted by changing the objective, because of this we cannot ban this currency but we can regulate it.
For regulating the stock market, such an institution like SEBI has been created by the government, regulation can be done on crypto currency by creating such an institution, but the main problem of the government is that if the government removes control from the currency, then the government has to control the monetary policy to run the economy. There will be no control and she will not be able to do as she wants today when the extra money enters the market.
Crypto Currency & Capitalism –
American businessman and author Robert Keiosky has written a book “Increase your Financial IQ” in that he says that almost all the democracies countries of the world are running in the fiscal deficit and all countries increase tax or extra money market to fill this gap. Due to which inflation increases and people’s money increases, but in reality their income decreases day by day, due to which all the countries of the world are caught in this visible cycle of economic.
In the second phase of capitalism, after the recession of 1971, America changed its philosophy a bit and made a strategy to reduce social welfare, under which we see today that all the countries of the world’s capitalism democracy are adopting this strategy.
But the problem of every country in the world is that after the Second World War, extra money enters the market to compensate for its losses, due to which inflation increases and the economy does not grow naturally, so crypto currency is a demand and supply based trend. It saves the income of the people from tax and inflation, that is why it has become so famous among the people.
Future of Cryptocurrency –
We have seen in history that barter system used to run, to fill the shortcomings of which gold and silver coins were brought and after the world war all the transactions were done through paperwork, but after the revolution of technology, its era also changed and today we are digitization. Started dealing with money.
But till today all these trends were controlled by the state, that is why no one had any problem with the state, but this crypto currency will not be controlled by anyone, due to which the question mark has started appearing on the sovereignty of every country, so all the countries are worried about it. But the capitalists want to keep themselves free from all control, so a lot of controversy has started building on whether it should be a currency or not.
A country like China has banned this currency, but it does not seem that India will ban it because it will not be easy for the Indian government to annoy the capitalist people, so they will try to impose maximum regulation on it.
Right now it can be agreed only as an investment, but it is not yet time to replace the rupee, it seems, but at the most we will see that India brings its own crypto currency, then it will not be a surprise.
Cryptocurrency & Regulation of official Digital Currency Bill 2021 –
Many people invest in crypto currency in India, now due to this bill of the government, investors are scared and false false rumors are heard every day, but we want to make one thing clear here that if your investment is right then no one can attack you. There will be no legal action, just your investment will come under the control of the government, which was not there earlier.
This law is cracking down on those who run crypto currency, the investor does not need to be afraid, it is for your safety because now if there is any fraud in this behavior, then there is no protection for you, so the investor should be rest assured and it is closed. It is not going to happen (the government has made it clear from the change in the name of this law) or your money will not sink, only this will be in the control of the government, so that the government can tax it and set up an institution like SEBI.
This is the currency of the future, it is true, but there is no clarity on it in the world that it should be kept free in the market, but if it happens in the future, I will not be surprised, but the government will control it by some means, it is equally true. Because today no country wants to lose its sovereignty and lose control of currency, no government in the world wants it today, for currency, at present, no government in the world is going to agree to it, what happens in the future, we just can guess.
Facts of Cryptocurrency –
- Since the introduction of crypto currency, it has no ownership, it is completely run through the block chain as a digital currency.
- If it is a medium of investment or a currency, then at present it is considered as a medium of investment.
- Cryptocurrency investment is governed by the law of demand and supply of the market, due to which till date, there is a lot of ups and downs in it.
- Those who have invested in crypto currency have earned crores of rupees from it, this has become the reason for attracting people.
- This is a virtual money, which we call digital money, which is run very secretly through very secure technology.
The reason for the controversy over crypto currency is that all countries around the world object to it in running it as a currency.
- Experts believe that the misuse of crypto currency can be used for illegal activities like terrorism.
- The number of people investing in crypto currency in India is 100 million, while there is no regulatory if it is fraud.
- Investing in crypto currency is much more risky than other investments, yet investing in it is attracting a lot of people because of the profit it gives.
- More crypto currency exchanges are found in India than the stock market, whose figure is seen around 16.
- A tweet by Elon Musk makes the crypto currency market fall or rise by 40%, so it changes rapidly, so there is a lot of risk in it.
- The average age of people investing in crypto currency in India is 24 years, which shows that the youth group is getting more attracted to it.
- India is not at all ready for the problems of cryptocurrencies when it comes to cybercrime.
Cryptocurrency is Investment or Currency –
The reason for the most controversial of crypto currency is that it is run as an investment today, but it is said that it will replace the currency of all the countries of the world in the future, so all the countries are worried about it. Questions are being raised on how to trust a currency which has no accountability and which will be controlled on the ups and downs of the market.
That’s why the capitalists want to bring this currency, but do not come forward and no country in the world wants to give up its sovereignty, but no capitalist democracy in the world has the answer to the flaws in the economy, due to which inflation and increasing tax burden is this. How to get out of the problem is the problem.
That’s why India wants to bring regulatory for this and can bring its own crypto currency or such a law should be made that the government can control, but crypto currency can be banned like China, it does not look like this but the government uses it as a medium of investment. Can be accepted but not in the form of currency.
How does crypto currency work? –
Cryptocurrency transactions are done through block chain software, which consists of an encrypted digital currency that is run in a decentralized manner. In this, every transaction is done through digital signature, whose record is kept through cryptography.
This behavior is called crypto mining in the language of crypto currency because every transaction is recorded through the digital medium. By whom this mining is done, it is called miner, who gets crypto currency in return for this work.
Generally speaking, crypto currency is considered a virtual currency based on blockchain technology, which is secured with cryptography technology. There is an exchange in crypto currency and all transactions are done online in such a chain of buyers and sellers digitally.
What is bitcoin currency? –
As many types of companies work in crypto currency, similarly bitcoin is a crypto currency company that runs bitcoin currency, which is completely run by crypto currency rules and we get to see about 60% of its investors in India. Is.
Bitcoin is considered to be the most expensive crypto currency in the world, although many companies mentioned above run this digital currency, but in India and in the world, bitcoin is considered to be the most preferred and safe cryptocurrency.
It does not run under the control of any central government, this cryptography runs on digital method and its information is secret and secure, so it is very famous in India and all over the world. Its especially that in today’s date it is being sold so expensive in India for Rs 36.50 lakh but you can earn it in two ways.
Cryptocurrency & Union Budget 2022/23 –
It was going on for the last several days that the crypto will be banned in India, but we have already said above that no country can take such economic decisions in the wake of globalization, which will have consequences on the economic behavior of the whole world, so crypto will not be banned, but it will be banned. Regulations may apply.
In the Union Budget which was presented recently, the tax that the government levies on crypto for activities like lottery tickets, betting, the same tax has been imposed by the government on crypto. In this, a provision is to be made that the government has decided to impose a 30% tax on every crypto transaction, so that the government will be able to keep an eye on the crypto transactions in India and all these activities will be recorded in the government’s records.
The most important thing is that the founder of a big company like Tesla, Elon Musk has shown interest in using crypto currency for business, but it is not so easy, matter because it is a matter of existence of every country where these governments run their rule. Is. Talking about India, today it is quite impossible to accept it as a currency, but in future it should not be a surprise if it works as a currency.
In this way, we tried to know here – what will be the future of crypto currency and whether it is a medium of investment or is it currency but feel it is a medium of investment. The purpose of bringing crypto currency, it shows us a way to save our wealth from inflation and tax, which all the sovereign countries of the world want to oppose but cannot even openly oppose, which will anger the capitalists.
Here we tried to know everything about crypto currency, but many experts believe that handing over the currency to the private sector will be a very risky act, which can be misused for activities like terrorism.
But on the other hand, the extra money that every country of the world brings in the market to fill the deficit of their budget, it increases inflation and the economy gets into more crisis, so some solution has to be found for it, otherwise we will see its very bad consequences. Can.
Therefore, crypto currency is considered to be the currency of the future, we have to accept this truth, but for this there should be a regulatory authority so that people can get security, it also has to be seen.