WHAT IS Virtual Currency AND WHY?
Can't be seen, cannot be touched. cannot be brought home. cannot be kept within the bank. Yet that's the currency! The transactions of this currency are increasing day by day within the internet world. Facebook has also recently announced that they're going to launch their own cryptocurrency or virtual currency Libra by 2020. Amrit Malangi gives the small print of this mysterious coin
Suppose you've got one lakh rupees. you do not want to stay them within the bank. don't need to stay it to yourself again. If you would like to stay it during a place where you'll shop online at any particular organization at any time, the worth of cash will suddenly increase several times. to try to to this, you've got to shop for a virtual currency thereupon one lakh rupees.
Virtual currencies like Bangladeshi currency like money, dollar like US, rupee like India even have different names. the foremost popular currency is Bitcoin. Recently added Facebook's Libra. There are about one thousand such coins in circulation.
This is basically digital money. In other words, you'll have an account online, your currency are going to be stored therein account through digital code.
To save Libra, Facebook has launched a subsidiary called Calibra, which can store, exchange and spend virtual currencies as a digital wallet. Caliber are going to be connected to Messenger and WhatsApp on the messaging platform of many many Facebook users. there's also a separate wallet for bitcoin.
The way the transaction is...
There is no banking industry for virtual currency transactions. there's an immediate (peer-to-peer) exchange between two users online electronically. a way called cryptography is employed to secure transactions. due to this method nobody else will know the news of your transaction.
According to a report within the Guardian, the primary virtual currency was launched in 2009 by a software developer by the pseudonym Satoshi Nakamoto. He enlisted the assistance of cryptography methods used during war II. At that point , the soldiers used this method to take care of communication among themselves. This cryptography method has been further developed within the era with the utilization of mathematical theory and computing , thanks to which all the knowledge of the virtual currency user is kept secret.
The way it's used....
In 2011,12-year-old boy named Eric Feynman bought a 12 bitcoin and sold it to others for 1,000. He now has about 403 bitcoins. Whose market value may be a few crores! The more bitcoin is traded, the more the market value fluctuates.
That's the way it's
If someone has Bitcoin, which he bought for five hundred dollars and if he wants to sell it for 19 thousand dollars, he has got to pip out at that price only. Since no financial institution is involved, a user can transact bitcoin during this way. That is, don't sell if he doesn't want. The boy Feynman sells a 12 bitcoin to his grandmother for 1,000. He then gradually accumulated more bitcoins.
Bitcoin's market value fluctuates sharply, which is why it's compared to 'gambling'. Bitcoin also can be bought in fractional form. At just one occasion it cost 100. In one year it increased to 1 thousand dollars. Then the worth went up to 19 thousand dollars. At the time of scripting this article, the worth of 1 bitcoin was 9 thousand 241 US dollars or 6 lakh 7 thousand rupees.
What are the differences between Visa and MasterCard?
Just two different companies. for instance , Samsung and Huawei. But here are both American companies. Visa card customers are more. MasterCard also can be utilized in a minimum of 99% of places where there's a chance to use a Visa card. the difficulty of advantages depends on the issuing bank or financial organization .
AMAZON CARD:
The Amazon Rewards Card may be a straightforward cash back card, which earns users a rebate on all their purchases. Cardholders get 3% back for purchases made at Amazon.com, 2% cash back at gas stations, restaurants and drugstores, and 1% back on all other purchases.
APPLE CARD:
The Apple Card works as a stand-alone mastercard , but is best utilized in conjunction with Apple Pay or your iPhone's Wallet app. you'll use the Apple Card to form purchases and earn cash back, with no additional fees or penalties apart from interest.
GOOGLE CARD:
Once the gift card has been redeemed, you'll use it for apps, games, movies, TV shows, music, and books. As a reminder, the Google Play Store is different from the Google Store: Google Play gift cards can't be wont to purchase physical products from the Google Store