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The idea of digital money is not new, many of us use debit and credit cards and banking apps for transactions. The global economy is rapidly progressing towards a digital ecosystem. The technology in the prevailing era showcases the fine potential to support efficient and transparent global economics. Virtual currencies have been well cited in the near past and vindicated in the present market because people are rapidly losing their trust in non-concerning governmental regulations. The reason the Government is sceptical about the use of cryptocurrency is that it will weaken their control over the financial system and will give more power to people. Virtual currencies and the money streams are controlled only online by the anonymous group of volunteers. 

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How is Virtual Currency Different from Plastic Money?

One of the biggest financial developments through the years has been the rise in the popularity of cryptocurrencies. The one, in particular, is Bitcoin. The total net worth of the virtual currency skyrocketed above the two main payment companies - Visa and Mastercard. Like traditional money, Cryptocurrency is not issued by Central Banks. Rather we’re a decentralised network of computers typically using blockchain technology. {The Article elaborates on the line - cryptocurrency, best cryptocurrency to invest in, best cryptocurrency to invest in 2021, cryptocurrency market, best cryptocurrency, investing in cryptocurrency, cryptocurrency trading,cryptocurrency exchanges, cryptocurrency market cap, new cryptocurrency, best crypto to invest in 2021, coin trading, cryptocurrency wallets, best crypto to invest}. 

The virtual currency is a transparent mechanism as it is easy to track, tamper-resistant and every single transaction are documented. The acceptance of virtual currency spreads worldwide, and the number is increasing steadily, hence rendering a chance to lead to a paradigm shift in the world of transactions and banking.

Even though there is a risk, virtual currency comes with transparent fundamentals. Cryptocurrency will give us protection against de-platforming since it is decentralised and no one owns it. As India is well known for outsourcing services to foreign countries, it will be a huge asset for us to deal in cryptocurrency on an international level. Companies can easily hire us and pay us remotely without any centralising authority. It also targets to limit the fraud and fraudulent transaction in the market as the word itself being self-explanatory as the currency is based on cryptography which makes accounting transparent and very easy to track. {The Article elaborates on the line - cryptocurrency, best cryptocurrency to invest in, best cryptocurrency to invest in 2021, cryptocurrency market, best cryptocurrency, investing in cryptocurrency, cryptocurrency trading,cryptocurrency exchanges, cryptocurrency market cap, new cryptocurrency, best crypto to invest in 2021, coin trading, cryptocurrency wallets, best crypto to invest}. 

Strategising virtual currency and providing safer outlooks: 

Economists have been exploring people's behaviour for hundreds of years, how we make decisions, how we act individually & in groups and how we exchange value. They've studied the institutions that facilitate our trade like legal systems corporations marketplaces but there is a new technological institution that will fundamentally change how we exchange value and it's called the blockchain now. 

Blockchain technology is a decentralized database that stores a registry of assets and transactions across a peer-to-peer network it's a public registry of who owns what and who transacts what the transactions are secured through cryptography and over time that transaction history gets locked in blocks of data that are then cryptographically linked together and secured this creates an immutable unforgeable record of all of the transactions across this network this record is replicated on every computer that uses the network it's not an app it's not a company 

While India is still struggling to give access to cryptocurrency into the country, many other countries are progressing their business on this principle. If India decides to ban cryptocurrency, it shall be deprived of the global market events as the future business will be dealing in cryptocurrency and banning will demotivate future investments and opportunities in India. India’s unwelcoming attitude towards cryptocurrency will at least cost us to lose ten years of development. In comparison, it would feel like India is refusing to accept the world of technology. {The Article elaborates on the line - cryptocurrency, best cryptocurrency to invest in, best cryptocurrency to invest in 2021, cryptocurrency market, best cryptocurrency, investing in cryptocurrency, cryptocurrency trading,cryptocurrency exchanges, cryptocurrency market cap, new cryptocurrency, best crypto to invest in 2021, coin trading, cryptocurrency wallets, best crypto to invest}. 

The controversy: 

Elon Musk is one of the early corporates who adopted digital currency. He reported ambition to come up with one of his kind that will promote the exchange of the currency across borders irrespective of their hosting countries inflation or deflation in the economy which is subject to governance by the RBI / Centralised banking system. The association of Elon Musk and Dogecoin is quite strong and directly proportional. This can be witnessed from the fact that the positive tweets of Elon musk increase the prices of dogecoin and vice versa. The very recent statement by Elon Musk, that ‘Dogecoin is Hustle’ has resulted in a decrease in its price.  It has been speculated that, unlike Bitcoin, Dogecoin is cheap, less troublesome and has a very low transaction rate, which has made it considerably prevalent among the investors along with the fact that it is being endorsed by Elon Musk on whom the populace has set great trust so far. One of the reasons for investment by Elon is the transformation of the attitude of the younger generation or of the ones who are tech-savvy but at the same time have been fed up with their hosting governments' unreasonable dominance, manipulation, generating of inequality in the distribution of the wealth amongst the people, bank's aggressive police etc. and have chosen to have their decentralized currency. 

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Future spells C.R.Y.P.T.O

We use money every day but we rarely appreciate its power and its flaws. It's a tool that has been at the centre of human progress and as we build bigger and tackle complex problems we're going to need the best tools available. We have a global economy and we're going to need a global digital currency. Cryptocurrency is going to be a great democratizing force for the world because it's going to level the playing field and allow anybody with a cellphone to access financial services.

Virtual currency allows us to agree upon the value of something. It's almost like a communication tool. There are different ways of coordinating human beings one way that you can do that is with money you can incentivize people to try to work on the same thing at the same time.

Something really powerful about cryptocurrency is that it lets anybody of you just have a smartphone and internet connection participate in the global economy. It takes the stability that we have and gives it to the rest of the world. One no longer needs the middlemen to keep track of an internal ledger. All these computers are writing everything down. It is because of technology, that it makes us richer and wealthier because one needs less time or less money or less effort to get something done. 

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