A very good morning to one and all present here. Today, I’ll be giving a small speech on the topic ‘cryptocurrency’.
Cryptocurrency, as we must all have gleaned from advertisements on social media, is the rage at the moment. What exactly is this? Why is it so popular?
Cryptocurrency, as the name suggests, is essentially an alternative to the regular money that we all know of. In simple words, it is a digital form of currency used for making monetary exchanges by way of encryption algorithms.
This form of currency is so popular today as it is much faster and easily accessible. It also does not involve banks. To protect fiscal stability in India, a 30% tax and 1% TDS is levied on transactions made using this way.
There are a lot of cryptocurrencies. The most popular one of these is Bitcoin.