Different types of cryptocurrencies.

Cryptocurrency is one of the hot subjects around the world that startled everyone with its sky rocking growth ever since it got accepted by various business world authorities. A quick idea about its growth can be seen by the following prices of bitcoin [one of cryptocurrency]
Price of bitcoin

So, here are some of the basics of cryptocurrency.

Cryptocurrency is the digital currency that is coded with the assistance of cryptography to secure the financial transaction. Cryptocurrency is unlike from other e-wallets like Patym, PayPal, etc. where you can loan money from the bank and use it, while cryptocurrency is not bounded to any particular nation or bank. Thus, cryptocurrency has the potential to become a worldwide currency that is not tied to any specific country or central bank.


The origin of decentralized cryptocurrency happened late back in 2009 with an unveiling of "bitcoin" being the first of its kind cryptocurrency. It was produced by pseudonymous developer Satoshi Nakamoto. It is yet to be discovered whether it is the name of a person or a group.

The journey started in 2009 with bitcoin and later on Litecoin in 2011 and many more introduced in the market. Cryptocurrency exists in the market now with most having a hash function of SHA-256d and Scrypt.


Under the working process of cryptocurrency, obligatory things required is the private key that helps to generate a public key, which sequentially produces the address. It is a “peer to peer” transaction.

One person can have single or multiple addresses as well. This address includes 26-35 alphanumeric characters, beginning with the number 1 or 3   (like1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2). There is exists nothing like an individual identity in cryptocurrency. The only identity one has is its public key that is linked to its address. In short, the ID of an individual stays anonymous. Whereas private key is the password to run the public key and address effectively by both ends i.e. for sending and receiving.


A need to send his peer B Rs 50000 by any cryptocurrency, let say bitcoin.
A send his public key, signature, and message to B.  B then checks using his verification algorithm that the message has been sent by the sender i.e. A, which can only be done by the holder of private key to that particular public key that is sent.
Hence A can handover his public key to anyone he wants to make payment. Later, to complete the transaction he needs the private key to that public key.
Transaction done in cryptocurrency is highly secured as they are anonymous.


If we talk about the market capitalization of bitcoin, it is nearly more than $237 billion while the market capitalization of Ethereum is $14,939 million and its current market value is around $140. Similarly, there exist more than 1600 cryptocurrencies around the globe and many more to come.

Therefore, no doubt cryptocurrency surely has a stretched journey to run. But, there are certain consequences of it as well. It can be easily used for money laundering because of its heavy convertibility into different currencies, it is strongly volatile. Also if you have stored it on your phone or PC you better remember your password and not lose it. Else, you won't be able to retrieve it. An incident took place recently with Canadian cryptocurrency exchange company QuadrigaCX, whose CEO Gerald cotton,30, is the only person who knew the security key and password needed to access the funds, died of complication from Crohn's disease while traveling in India.

Also, many countries like Canada, Australia, China, the EU, Russia have already regulated Bitcoin under there law and taxation framework while in some countries like Costa Rica, it is not legal to deal in any kind of cryptocurrency because of its high volatility and anonymous nature.

Supreme Court lifted the ban on Cryptocurrency, here's what next.

Indian’s virtual currency industry had come to standstill after the following prohibited notification by the RBI in April 2018. Over a period of two years, several exchanges have been shifted to overseas or closed their business altogether.

Now, that supreme court of India has lifted the ban over the dealing of cryptocurrency. Here’s what can happen next.  

  • Cryptocurrency companies are expected to revive their plans to invest in India.
  • A virtual currency has approx. 1.7 million verified users in India. 
  • India shares around 2-10% share of the overall market.
  • It has a global size of $430 billion.
  • The internet and mobile association of India [IAMAI] is looking forward to work jointly with the RBI and the govt. to construct the framework for cryptocurrency in India. 
  • INR banking returns to crypto-exchange in India.
  • Will lead to more start-ups in the cryptocurrency in India as till now the Indian market is a sleeping giant.

Hence, after the lifting of ban the success of current leading cryptocurrency i.e. bitcoin in dealing with the challenges, it faces may determine the future of other cryptocurrencies in the coming years ahead.

types of cryptocurrency.
Logos of different cryptocurrencies.


  1. Thanks for this info. Waiting for more interesting topics...

  2. Oh. So, it is banned in India. What about America?

    1. It is legal in US after a little struggle though. But it is not a legal tender and strict laws are on its way to form. It is used both as currency and as a security under U.S. law. People mostly use it for investment purposes, therefore they accordingly need to pay taxes on their gains as well.

  3. All the contents you mentioned in post is too good and can be very useful. I will keep it in mind, thanks for sharing the information keep updating, looking forward for more posts.Thanks click

    1. Its been great that my post is useful to you Mark.

  4. I am unable to read articles online very often, but I’m glad I did today. This is very well written and your points are well-expressed. Please, don’t ever stop writing.
    bitcoin to perfect money

  5. Thank you for such a well written article. It’s full of insightful information and entertaining descriptions. Your point of view is the best among many. Where to buy antminers

  6. You there, this is really good post here. Thanks for taking the time to post such valuable information. Quality content is what always gets the visitors coming. how to recover bitcoin wallet passphrase

  7. I found your this post while searching for some related information on blog search...Its a good post..keep posting and update the information. how to invest in litecoin

  8. I feel very grateful that I read this. It is very helpful and very informative and I really learned a lot from it.

  9. I wanted to leave a little comment to support you and wish you a good continuation. Wishing you the best of luck for all your blogging efforts. Crypto Associate

  10. I curious more interest in some of them hope you will give more information on this topics in your next articles.

  11. I like your post. It is good to see you verbalize from the heart and clarity on this important subject can be easily observed... Cryptocurrency investment management

    1. hahaha. You caught me, I do write from heart!! Thanks

  12. I would like to say that this blog really convinced me to do it! Thanks, very good post. read more

  13. A very awesome blog post. We are really grateful for your blog post. You will find a lot of approaches after visiting your post. Cycblebit

  14. Very efficiently written information. It will be beneficial to anybody who utilizes it, including me. Keep up the good work. For sure i will check out more posts. This site seems to get a good amount of visitors. cryptowatch review

  15. Wonderful article. Fascinating to read. I love to read such an excellent article. Thanks! It has made my task more and extra easy. Keep rocking. bitcoin to euro

  16. Regards for all your efforts that you have put in this. very interesting information. Cryptocurrency news

  17. Thanks for taking the time to discuss that, I feel strongly about this and so really like getting to know more on this kind of field. Do you mind updating your blog post with additional insight? It should be really useful for all of us. visa canadien

  18. Your blog provided us with valuable information to work with. Each & every tips of your post are awesome. Thanks a lot for sharing. Keep blogging.. αίτηση για βίζα στην Ινδία

  19. Hey Thanks for sharing this blog its very helpful to implement in our work


    Stolen crypto Recovery account

  20. very interesting post.this is my first time visit here.i found so many interesting stuff in your blog especially its discussion..thanks for the post! P2PB2B Referral Code

  21. Thankyou for such a great blog. Read all the information on whether you need a Visa when visiting Turkey. do i need visa to enter Turkey. yes , if your country does not include the list of 78 countries that can enter Turkey without a Visa.

  22. Thank you for this fantastic post. Apply online multiple entry visa Kenya through online Kenya e visa application. That offers the fast online e visa services with 24*7 customer assistance.

  23. Wow.. Very informative article thanks for sharing please keep it up.. Foreign travelers can pay the Indian e visa fee with a secure network and the Indian visa fee for US citizens is different in case of emergency.

  24. This information is very useful for us... Thanks for sharing... keep it up... All travelers who want to visit the US need a valid passport with a USA visa. And with just one click you can check the online USA visa cost, if you have any kind of doubts so find your answer.