Currencies are what you call as money, it’s present in various countries as a way for them to trade locally. It can also be a subject for exchange with other countries currencies that affects various aspects of trading goods and services. You can’t really say that each country has their own currency and only they can create one, because quite frankly, in online there are also currencies one uses in a form of cryptocurrency and one of those currencies is bitcoin.
Bitcoin is a digital currency, it’s not owned by any country or anyone in particular (no one has claimed so far). It’s also a self-sustaining currency that can produce its own currency. It has a fixed amount of Bitcoin that circulates and every transaction from it passes through a digital and encrypted ledger called a blockchain. But why should you care about this type of currency? There’s a big reason why many people use bitcoins and its not just because of preference.
It can be anonymous:
For most people bitcoin transactions are anonymous. Why most people? Because in a sense it passes through blockchain and everything is recorded there, but although it passes through there, it’s not readable, it’s encrypted and still, the person using it remains anonymous. Its one of the safest way of paying since there’s no need for identification from the sender to the receiver. If you’re a person that has constant transactions and you want ones that are non-traceable through banks, then bitcoin is certainly perfect for you.
Since bitcoin is unregulated by any government body, they can’t tax it. Sure any purchase from a local or international store that is regulated b the government has taxes, but if you trade exclusively with bitcoin to bitcoin, there’s no tax, thus there’s no liability. 1 bitcoin already equals to around $ 7000 USD and the best part of that is, no can’t be taxed. No government will come after you even if you reach millions of bitcoin transactions.
There’s a good reason why many people consider bitcoin the future of currency and that is because it uniforms everyone in the world wide web, to use only on the currency (that’s the ultimate goal). It’s unregulated by any government bodies and it’s self-sufficient. Plus it has many perks as well like the ones mentioned above. To know more about it, click the link.