All About Crypto Currency And The Popularity Of Bitcoin

All the new age amenities like online shopping stores, online business websites and social

networking websites would not have existed without internet. Now you can use video calling to

talk face to face to people sitting in the other corner of world. From pictures to documents, music

and even audiovisual files, you can easily exchange any type of information online. In a nutshell

it can be said that internet has expanded the limits of possibilities.

Online shopping has become a rage in the world of internet and is becoming popular amongst

individuals of different age. Nowadays people find it more convenient to buy products online

than visit a physical shop to hunt for various requirements. In our fast paced lives, we hardly get

time to shop for commodities that are an essential part of our lifestyle and most of us prefer

ordering stuff online. The stuff that we get online is delivered directly to our doorstep, so it is

less time taking and in case you need something urgently then you can chose express delivery

also, which some of the online shopping websites offer. The products that we buy online are also

quite reasonable because there are no middlemen in the deal and online shopping websites offer

great discounts.

The ever increasing popularity of online shopping websites paved way for the invention and

development of crypto currency. This virtual currency exchange medium was specially designed

for the E-Commerce world. This currency exchange medium entered the coin market in 2009,

after the invention of first crypto currency Bitcoin. It was invented to make online money

transfer easier and more secure. This cryptocurrency engrossed the E-commerce market within

few months and managed to impress E-Commerce giants, who welcomed this new money

transfer technology.

Bitcoin

This decentralized currency employs peer to peer technology which enables collective currency

issuing, verification and transaction. The processes involved in online money transaction are

collectively accomplished by a single network. Bitcoin is free from any external interference and

even government regulations. This digital currency is created through a process which is known

as mining. This process involves solving of extremely complex crunch numbers and algorithms

and the currency is evaluated with the help of a Bitcoin mining calculator. This process can

generate around 25 Bitcoin within ten minutes, which is restricted to a level when 21 million

coins at once. This limit is standards and every individual or organization that deals in Bitcoin

has to follow it.