It is growing!
The first crypto currency namely the bitcoin has been around for a little over a decade now and it is growing in the number of people that are using it and coming together as the peer group using crypto currencies in world. Even though many countries have not allowed it many countries have been very open and have accepted and given the needed permission to deal in the bitcoin. When it is taken into the public market then the cost of the currency should also be revealed. Here the bitcoin price is what determines the exchange rate. The exchange has been going on only among the people using the bitcoin and they only a few people in a group worldwide but a negligible on when compared with the regular currencies that are transacted through the well organized banking system. But when it comes to the bitcoin it is transacted within the limits of the block chain. It is a collection of accounts of the individuals who use the bitcoin and the data are kept safe and secure keeping the future in mind. The value of bitcoin has been fluctuating right from the day it was introduced and people began to use it.
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- There are a few important aspects of the crypto currency which you might wish to know before taking the crucial step of dealing in it.
- To begin with it does not come under the regular and organized banking system used throughout the world.
- This is totally different and state from the banking system. Since the bitcoin is used in limited circles, the rules are also followed among the circle of users and they have to be true to themselves when dealing in it and transacting with it.
- The sales tax that is applied by the banking system does not apply here with the bitcoin and for that matter any crypto currency. The bitcoin value is calculated separately and the liquidity of the bitcoin is capable of affecting the value.
- Since the users have to come under some purview of law the changes that take place in the economic and political aspects also affect the value of the bitcoin price like that of the regular currency of any country.