| Student Viewpoint |
Security
Ease of Use
Consultaire | Sept’2018
Taxation Free
No
Rapid Growth
Transaction Fees Payment
“Safer than
Digital is the
No
The World Bank”. Fully encrypted.
way to go. Ease in online payments. Acceptance by Paypal.
Government Intervention, which makes it tax free.
Bitcoin has become a de facto standard in the world of cryptocurrencies. The currencies inspired by Bitcoins are known as Altcoins. Below are the six major cryptocurrencies other than Bitcoin: 1. Litecoin(LTC) • Referred to as the “Silver to Bitcoin’s Gold” • Open source global pay ment network • Faster Block Generation Rate • Better Transaction Confir -mation speed. 2. Ethereum (ETH) • A decentralized software platform • Enables Smart Contracts and Distributed Applica -tions to be built and run • Without any fraud, inter fere ence, etc. from a third party. 3. Zcash (ZEC)
Stratagem|IIM Amritsar
Gateways are avoided.
• It’s referred to as, “If Bitcoin is HTTP, Zcash is HTTPS”
Payments can be Reversed
Bitcoins are
Reversal of
being intepayments in grated by case of fraud many other detection. The online sites. whole amount Also a medican be um of investcredited back. ment for a few users. • Untraceable Currency • Donation based and com munity driven.
• Offers privacy and selec tive transparency of trans actions
The table above shows the factors that enable the future existence of Bitcoins.
• Provision of extra secure ty privacy
Recently, Coinbase a USbased cryptocurrency exchange has decided to release a PayPal like service of its own. This will it make easier for the merchants to accept payments via Bitcoin, Litecoin and Ethereum through Coinbase Commerce.
• Details of sender, recipient or the amount remain pri vate 4. Dash (DASH) • Decentralized master code network • Stands for Digital Cash • A more secretive version of Bitcoin. 5. Ripple (XRP) • Real-time global settlement network • Instant, low-cost interna tional payments 6. Monero (XMR) • Secure • Private
A number of companies are accepting Bitcoins as a form of payment. Overstock, Expedia, Subway, PayPal, Shopify, Microsoft, and Pizza for coins are tfew companies which are encouraging Bitcoins. Considering market capitalization, user base and popularity bitcoin has been leading in the cryptocurrency world. Going by the current scenario, Cryptocurrencies are here to stay and more dominantly. Bitcoins! Better Buy and Invest.
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