Bitcoin and online currency

"Crypto Payment Systems"



Bitcoin is an online currency which is founded in 2009, it is a cryptocurrency. It is widely used in trading marketplaces called “bitcoin exchanges” as, these allow the individual to buy and sell using different currencies. It is being created by an unknown person. Bitcoin can be used to buy merchandise. The payments here with these are easy and cheap. These can be used anywhere as there are no rules and regulations for these and these are not even created for just one nation. Small businesses will like these more as there are no card fees. Some people buy these as a kind of investment as the prices of these increase and decrease they hope the value will may go up in the future. There are many other online currencies also like Ethereum: which is developed in 2015, it is a blockchain which has its own platform with its own cryptocurrency known as Ether or Ethereum. This is the one which is the most popular currency after bitcoin. Litecoin: This is more like bitcoin, but it has developed its more of the innovations quicker than any other currency as it includes fast payments and allows multiple and quicker transactions. One more is the ripple: which has been founded in 2012 it is not just a cryptocurrency rather it has used to track so many kinds of transactions. The company who founded and made it has worked with many financial institutions earlier. These were designed by the engineers with no influence from the lawyers or not even from the regulators. It is built on a log which is being distributed here across a network of participating computers It includes the mechanism of rewarding the honest participation of ones, to bootstrap acceptance to early adopters and to guide them well against the concentration of the power. The value of bitcoin is not stable, rather it keeps fluctuating.