Since the time bitcoin came into the picture, many other virtual currencies have come into vogue, of these some others are ethereum, ripple. And as these currency formats are likely to be legalized in not so distant future by the financial regulators in the country owing to its returns for the investors, it thus makes sense to familiarize with them
So, here is an attempt to help you know about Ethereum.
If you are a geek and want to get richer, other than the Bitcoin currency, the second most popular virtual currency, Ethereum is fast gaining traction.
And as expected in matter of less than a year's time, the performance of ethereum is likely to go beyond bitcoin owing to additional advantages it offers.
How Ethereum Scores over bitcoin?
Ethereum cryptocurrency offers a platform that does more than sending value via one person to one another as in bitcoin. Nonetheless, the bitcoin in terms of value has crossed 1.65 lakh, with an increase of over 50K at a time when the Wannacry ransomeware perpetrators asked for ransom in bitcoin.
How money is minted using these cryptocurrencies?
Although, in India cryptocurrencies are still under consideration for legalization, you can certainly mint or buy the currency through digital wallets or exchanges specially set-up for the purpose.
Know how you can buy Bitcoin in India?
But at the same time, the money in it can be minted in it only by stacking them as of now despite the selling platform for them, you can exchange them with other currency and can't redeem them in cash format. The provision is not available as you would work against law and at the same time would come under scrutiny by the tax department.