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Cryptocurrency is becoming popular throughout the world. It is also known as digital or virtual currencies or “crypto” in short form. In addition, Cryptocurrencies are emerging as the currency of the future. Therefore, it is going to rule the future digital finance world.
The technology that makes Cryptocurrency functional is Blockchain. The main purpose of Blockchain was to run Bitcoin, the world’s first virtual coin. Cryptocurrency has, no doubt, become very popular among investors and banking institutions. However, there would be a lot of changes in the future to make it more acceptable and litigation free.
Cryptocurrency
It is a digital currency that exists in a virtual form. It functions by using cryptography. 
Cryptography is consisting of two words “crypt” (means “hidden”) and “graph” (“writing”). By using codes cryptography protects information and communication.
Cryptography is consisting of two words “crypt” (means “hidden”) and “graph” (“writing”). By using codes cryptography protects information and communication. Cryptocurrency is like real money but they take the form of digital or virtual form. These currencies are not managed by any authority, bank, or government institution. Two users make the transaction of this currency between them. In other words, there is no intermediary involved in the process.
Blockchain is the technology behind Cryptocurrency. It makes sure the transaction of money safe, secure, and easy.
Technology behind Cryptocurrency
Blockchain technology is a digital ledger of transactions. Satoshi Nakamoto created this technology. This technology has many possible benefits. This technology enhances the transaction process by reducing time, cost, and resources. In conclusion, these advantages have made it popular among crypto enthusiasts. This is the main reason why it has a very undeniable role in business. Blockchain-backed smart contracts reduce the costs incurred for audit, legal, and compliance.
Different Types of Cryptocurrencies
There are many cryptocurrencies in operation nowadays. Not that all are popular or have a large number of users. There are more than 2,000 cryptocurrencies that exist in the world. The most popular and accepted cryptocurrency is Bitcoin. Above all, it is the first and oldest of all digital currencies.
· Bitcoin
Bitcoin is the world’s first and most admired cryptocurrency. It is operating since January 2009. This currency is not under the control of any central bank or government or agency. In addition, Bitcoin is getting a lot of attention these days.
· Ethereum (ETH)
Ethereum, another well-liked cryptocurrency started in 2015. It is an open-source transaction platform that uses blockchain technology.
· Bitcoin Cash
Bitcoin Cash enhances some of the specific features of Bitcoin. It’s a kind of improvisation of Bitcoin. In Bitcoin 
Cash, the size of the blocks is bigger. Above all, the feature facilitates the processing of more transactions in the quickest time.
Cash, the size of the blocks is bigger. Above all, the feature facilitates the processing of more transactions in the quickest time.· Litecoin (LTC)
Litecoin is a Bitcoin substitute, created in 2011. It is a popular digital currency used in many countries. In addition, its tagline is “The Future of Money”.
· Ripple
Ripple is a different type of cryptocurrency than the above mentioned currencies. However, it is not Blockchain-based. Therefore, larger companies and corporations use Ripple for large transactions.
· Other Cryptocurrencies
Namecoin, Primecoin, Peercoin, Gridcoin, Dogecoin, Nxt, Dash, Titcoin are other popular digital currencies.
PayPal has made its entry in the cryptocurrency market recently. Now, PayPal account holders would make cryptocurrency transactions on the platform. Above all, the popular payment platform is working towards offering an array of crypto services. It is planning to start its crypto journey from US customers.
PayPal Holdings, Inc. is a US-based online payments company having a global presence. It provides different financial services. For instance, the services include online money transfers, P2P payments, and digital payment services. Users can have debit card accounts. It is an established company that has revolutionized digital transactions across nations.
PayPal Entry into Virtual Currency Market
In October, PayPal announced to provide its crypto services to selected customers. They have the option to buy, sell, and hold different cryptocurrencies. According to PayPal, 
customers can store cryptocurrencies in their PayPal digital wallet.
customers can store cryptocurrencies in their PayPal digital wallet. The company would deal with Bitcoin, Bitcoin Cash, Lite Coin, and Ethereum. In other words, buyers would be able to sell back their surplus currency to PayPal.
PayPal’s entry has made a positive effect on the price of Bitcoin. It has also inspired and influenced other big companies to embrace cryptocurrency.
PayPal’s Crypto Plan
PayPal has already acquired the first provisional cryptocurrency license from the concerned authority. In addition, PayPal has tied up with Paxos Trust Company to offer its services and spread its crypto business.
They are experimenting with chosen US-based customers to start with. They have the plan to extend their services to all customers of the US in the next few weeks. After that, in the coming year, they would scale up their operation to other countries.
Security concerns
PayPal is taking cryptocurrency to the masses. However, experts are apprehensive about the move. The main concern is the security issues. Some notable issues are frauds, thefts, malware stealing, phishing, unauthorized mining, etc.
Experts are of the opinion; PayPal may fail to address these security issues. To deal with masses means to deal with messes. There will be thousands of new crypto users who may misuse the services. Therefore, novice users may expose themselves to become victims of malpractices.
PayPal
is planning to educate the account holders on the basic crypto ecosystem. New users can brush up their know-how on the risks and prospects associated with it.
is planning to educate the account holders on the basic crypto ecosystem. New users can brush up their know-how on the risks and prospects associated with it.In past, top-notch crypto exchanges have burnt their fingers over the security aspects. They have encountered cyber-attacks from hackers. The hackers try to get into internal networks to ransom users’ digital currency.
PayPal is offering non-custodial service to users. Users can transfer their cryptocurrency to other platforms. They can also withdraw and use currencies for all kinds of payments.
Bottom-line
Experts hold different opinions on the security issues about PayPal’s move. Some argue that virtual currencies are volatile and unregulated. Smallholders may face security issues when they navigate their holding between exchanges. Others opine that the security issues will be always there as it is in fiat currencies. The account holders can address these issues only by cautious transactions. We have to wait and watch how PayPal is managing their crypto affairs.
The Indian Cryptocurrency industry is witnessing continuous growth in recent times. Irrespective of uncertainty around cryptocurrency, its popularity, and followers are increasing. India is a big market with pro-savings people. There no wonder many crypto firms from India and abroad are making their presence felt. Regulators are hesitant to engage with the crypto industry.
Expanding Indian Crypto Industry
Cashaa has tied-up with Indian organization the United Multistate Credit Co. Operative Society. They have launched crypto banking services for the Indian market. This news has sent a positive signal to the Indian crypto community. Crypto enthusiasts are very optimistic about their future in India. Cashaa and co have formed a dedicated crypto banking company named Unicas.
Unicas is going to start its operation through thirty-six branches now. It has planned to scale up in 2021 when it will have 100 branches across India. They will offer an interest in crypto deposits. 
Customers can open accounts with them for storing and transacting cryptocurrency.
Customers can open accounts with them for storing and transacting cryptocurrency.It is notable here that the Reserve Bank of India (RBI) had banned cryptocurrency in 2018. There was an allegation of fraudulent financial transactions. Latter the crypto-fans had taken the ban issue to the Hon. Supreme Court of India. In March 2020, through a ruling, the apex court ended the ban on the digital currency transaction in India. A series of lockdowns and shutdowns followed owing to the COVID 19 pandemic. People are now getting to know about digital currency. This is majorly due to slow economic growth.
Launching New Crypto Firms and Entry of Big brands
Global crypto-centric brands are entering the Indian market. any big companies from India are also embracing cryptocurrency now a day. Crypto is attracting companies for its liquidity. The growing demand for Bitcoin allures companies to consider it as a safe haven to invest. Binance, the Malta-based exchange has taken over the Indian crypto firm WazirX. Bain & Company is now funding India’s largest cryptocurrency exchange CoinDCX,
Polaris Capital is investing in the Indian crypto market. The Indian corporate giant Tata Consultancy Services has launched its Quartz Smart Solution. The smart solution provides financial aid to institutions. In turn, the institutions offer a cryptocurrency trading facility. PayPal has also entered the crypto world globally. PayPal will have its crypto operation in India as well.
Singapore-based Bank DBS has entered the crypto market recently. After that many Indian baking institutions are considering following the path of DBS.
The Reluctant Regulators
In cryptocurrency maters, regulators in India are keeping themselves at distance. The Supreme Court of India has 
allowed the transaction of cryptocurrency in India. Still, the regulators are not interested to get indulged in crypto matters.
allowed the transaction of cryptocurrency in India. Still, the regulators are not interested to get indulged in crypto matters. The authorities have not yet formulated any regulatory framework for cryptocurrencies. The RBI and government agencies are showing an unfavorable attitude towards crypto. Streamlined crypto is possible using a regulatory framework. It would increase the acceptance of crypto in India. There will be a decrease in scams.
Despite unfavorable regulatory clarity, many crypto enthusiasts are entering the crypto industry. Some still believe that the govt. may ban crypto completely. A clear regulatory framework would boost the cryptocurrency to the next level. Crypto enthusiasts are eagerly awaiting such crypto industry reforms to happen in India. Even without that, they are still hopeful about a bright future for crypto in India.
Cryptocurrency is in the headlines yet again. In recent times, we saw many big corporate embracing virtual currencies. These have various advantages. Therefore, the coins are getting more acceptance by businesses and fans. The popular cryptocurrencies are Bitcoin, Ethereum, Bitcoin Cash.
Apart from them Litecoin, Ripple, Libra, and Tether, etc. are also gaining importance. However, Bitcoin is the most accepted among all the cryptocurrencies.
Bitcoin Crossed $15,000 mark, reached near $16,000
Bitcoin has crossed the $15,000 mark and hobnobbed below the $16,000 mark last week and took a leap of 2.1%. It was the highest point for the cryptocurrency since the surge happened in early 2018. 
We may mention here a fact for those who are little new to Cryptocurrency-world. The highest point that Bitcoin has ever achieved was on 17th December 2017 when BTC reached to $19, 666.
We may mention here a fact for those who are little new to Cryptocurrency-world. The highest point that Bitcoin has ever achieved was on 17th December 2017 when BTC reached to $19, 666.The recent success of Cryptocurrency attributes to two factors, experts opine. One of the factors is the economic recession due to the COVID19 pandemic. The other one is uncertainty over the Presidential election in the US.
Bitcoin: #1 Asset of 2020
In the last few weeks, Bitcoin has been leading the group of top-trio assets of 2020. The standing so far is in this order – (#1) Bitcoin, (#2) Gold, and (#3) Silver. Bitcoin is now the topmost asset leaving (the precious metals) gold and silver behind. It has been leading the list in the last few months. Last month, we had informed about this in another article “Bitcoin Ahead of Gold and Silver”.
The prominence of cryptocurrencies has been increasing day by day. More number of global corporate giants are jumping to the crypto market. Many others are using it as an alternative to traditional currencies. because of many advantages.
On February 19, 2020, Forbes Released the 2nd Annual Blockchain. 50 List Of Companies Embracing The Technology Underlying Cryptocurrencies. The enlisted reputed brands include Amazon, Google Microsoft, Credit Suisse. A few more are Citigroup and JPMorgan, BMW, etc.
19, 2020, Forbes Released the 2nd Annual Blockchain. 50 List Of Companies Embracing The Technology Underlying Cryptocurrencies. The enlisted reputed brands include Amazon, Google Microsoft, Credit Suisse. A few more are Citigroup and JPMorgan, BMW, etc. We have also observed the entry of companies like Square, the Robinhood trading app. Paypal and DBS bank are other names in this context. The main reasons behind the acceptance of Bitcoin are its capabilities. Bitcoin can speed up business processes, bring transparency, and save expenses.
Conclusion
The trend is very favorable for Bitcoin now, as it was never before. It is performing very well since witnessing low points in 2018. The COVID 19 led economic slowdown has affected almost all countries and currencies. The sluggish world economy has affected all major and medium economies. This economic bane has become an economic boon for cryptocurrency. Bitcoin is marching ahead with increasing its value against the dollar. It has become the numero uno asset of 2020 way ahead of gold and silver. According to Crypto fans give credit to an encouraging economic situation. While the critics are terming it as a temporary phenomenon. As per them, it will subside after some time. Let’s see what’s happening!!!