650 WORDS ESSAY ON POSITIVE AND NEGATIVE IMPACTS OF BITCOIN FOR SCHOOL AND COLLEGE STUDENTS.
With the advancement in Technologies and World Economies, there emerges new ideas differing from the existent world. Bitcoin is one such example. Bitcoin was the first cryptocurrency, invented in 2009. It is a volatile virtual currency, issued globally. Bitcoin is not issued or regulated by any central bank or any single regulatory authority. It is the result of computer algorithms and is issued and transferred through distributed processing network, by a private party. Amongst countries, it gained more popularity in South America in 2016 because of Government’s control on hard currency.
POSITIVE IMPACTS OF BITCOIN
Advantages of using Bitcoins can be listed down as follows:
NEGATIVE IMPACTS OF BITCOIN
Undoubtedly, the disadvantages are also numerous:
Bitcoins still remain too new a financial medium to the world. The society is still getting to understand this concept. It may be evidently said that the system works reasonably well and is expanding rapidly. Hence, it is required to understand here, whether indulging oneself into it, would be imperative.