And that the coin is not being used by any other transaction simultaneously<\/em><\/strong><\/li>\n<\/ol>\nAlthough no RBI or federal reserve guarantee the validity of the coin, it relies on the only peer to peer network.<\/u><\/em> \nHence all this makes Blockchain and cryptocurrency, Bitcoin an incredible concept which is in recent times being used for multiple purposes. Although people for a long time were and still are sceptical of the process, due to the comfort of tech-savvy people accepting Bitcoin, the popularity has increased. \nBitcoin has become very popular in India<\/strong>; it is estimated that over 2500 Indians trade in Bitcoins on a daily basis. The popularity has increased especially after the decision of demonetisation. \nBitcoin is gaining popularity in India mainly because-<\/strong><\/p>\nPrivacy Factors<\/strong><\/h2>\nThe transaction in Bitcoin can happen without sharing the details of senders and receivers, there is no need of sharing the bank account details, which is required in other transactions. Bitcoin eliminates the need for using a debit or credit card.<\/p>\n
Borderless Transactions<\/strong><\/h2>\nBitcoin is open to all, it does not create borders and anyone, from any corner of the world with access to the internet can get connected to the Bitcoin Network.<\/p>\n
Decentralized\u00a0Transactions<\/strong><\/h2>\nIt is a two-way interaction between the sender and the receiver. No traders are required, also the online transactions of Bitcoin are majorly free from fraudulent activities, as reverse transactions are not allowed.<\/p>\n
Minimal Transaction Fees<\/strong><\/h2>\nWhat you pay for international transfers over Bitcoin is minuscule as compared to other available options.<\/p>\n
Fast Transactions<\/strong><\/h2>\nBitcoin transfers are almost immediate as there is no third party involvement and the Bitcoin network processes the payment. \nIt is debated that a central authority needs to be created for regulation purposes, Bitcoin currently is enjoying growing popularity not only in India but across the globe. And on the onset, it looks like this cryptocurrency is here to stay with more people taking an interest in this form of currency and joining the network.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin, like most of you, would be aware is a form of digital currency, it is electronically created. One will...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[22],"tags":[],"pages":[],"coe":[],"class_list":{"0":"post-40437","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-finance"},"acf":[],"yoast_head":"\n
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