Monday, December 25, 2017

Investment in Cryptocurrency Bitcoin & LiteCoin – The Present and the Future

Investment in Cryptocurrency 

Humans have evolved a lot in the field of financial transactions from past generations. Starting with barter system, and then came the metal coins, currency papers, and plastic cards to digital wallets and now cryptocurrency. This virtual currency is distributed and has no principal banking system to monitor the payments and services. Cryptography standard is used for these digital transactions taking place directly between the users.

Bitcoin – The Present and the Future 

Bitcoin has taken its form as a way of paying the mining process and is released as open source software. With no middlemen and ease of doing international transactions, most of the small and medium businesses are inclined towards doing Bitcoin transactions. This is one of the prime reasons for a sharp price rise of this cryptocurrency in 2017 to around $14,200.

A user can acquire bitcoin from the specifically termed marketplaces known as bitcoin exchanges. Many of the users do transaction using this currency while others hold it as an investment option.
The CME group based in Chicago is planning a deal promotion for Bitcoin futures this month. To join this is the NASDAQ stock market with a site on supplies for Bitcoin futures early in 2018. Well this promises a better future for Bitcoin.

There are certain countries where Bitcoin transactions are banned. Vietnam, China and 6 other countries is where Bitcoin transactions are considered illegal. This ban comes in the wake of this cryptocurrency being widely used for drug trading and money laundering.

As we weigh the pros and cons of this virtual currency, there are more loopholes in this format which makes us think that is this a Bitcoin Bubble?

Security Vs Secrecy: 

Every user wants their financial transactions to be secure, no doubt Bitcoin offers that but it comes with a hidden loop of Secrecy. It means the user can never know the details of the buyers and sellers as they can see only their wallet ID’s.

The cryptocurrency world offers another currency known as Litecoin. The name is Lite but its transaction speed is faster than that of a bitcoin. With more limit of coins i.e. up to 84 million, Litecoin is the preferred format for less expensive transactions.

You can visit companies such as Coinbase or following link for doing any transactions on Litecoin, Bitcoin Cash, Ethereum and Bitcoin

Code of Practice:

With no proper regulations, unlike the traditional currency formats the future of bitcoin remains bleak. With over 16 million bitcoins in circulation it looks growing at one time but again the steep increase in the rate and a sudden fall raise doubts that is Bitcoin Bubble?

One of the alternatives to Bitcoin is the faster Litecoin. This has a better technology and uses the same protocol as Bitcoin. It’s on a positive path from the inception and is operated on all foremost exchanges with high liquidity; Litecoin can be the next big thing to Bitcoin.

A share in the rise of Bitcoin is owed to the excitement and buzz it created when entering the market.
For any trading on Bitcoin and Litecoin you can visit:


Is Bitcoin called a bubble due to the ignorance in this cryptocurrency format or a Brilliant invention after understanding how it works?  It is the current trend and how the future unfolds for this virtual currency let’s wait and Watch.

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