Bit coins are the virtual currency that has made its position among the people worldwide. One of the reasons behind it is its non-centralized currency. People get rid of any banks and local governments for using this crypto currency. May this is the cause many countries do not permit the crypto currency for their citizens. When you get interested in crypto currencies first explore how to buy bit coin. It is important to be aware of everything in which you are going to enter. It is an electronic currency that has no control of anybody like banks or any other authority. It works on the system of peer to peer network.
Maintaining the record of all transaction in this system is indeed easy with the help of blockchain, but do you know this record can see by anyone because it is public. For a few people, this is not correct. To sort this kind of problem the system develops a bit coin mixer. It fulfills the purpose of privacy that helps in keeping the identity of yours hide this can be done by mixing all the transactions trail to and from your crypto wallets. This currency is completely different from the traditional currency of each country. It gives the chance to earn for the people, but still, it has a few disadvantages which are constantly being worked on to improve it completely. Some of the short come are given below:
- Before using the bit coin first collects all the information about it very clearly otherwise it may put you in trouble rather than a benefit. So you should be aware of all the faces of crypto currencies.
- If we compare the value of crypto currency with the normal currencies, you will find the value difference between both of them. The normal currency value is more than a bit coin.
- For a business, this currency is a little risky. To avoid this risk the company needs to make aware their all the employees towards bit coin. They should have a good knowledge of crypto currency otherwise it may harm the business.
- It has so much instability because the availability id these coins are limited. So when the demand rises more it makes it unstable.
- It is still in its developing part so that it has fewer features. It is also one disadvantage of bit coin.