Currency 

• Currency means “money currently in use”. US dollars, European euros, Indian Rupees, and the Chinese yen are all  government created money known as “fiat currency”. “Fiat” just means an official order or authorization. 

• Today, governments authorize their bills as legit, and because we have "faith in our governments and banks", we use their money. Ultimately, the worthless bills are just an idea backed by confidence.

 Cryptocurrencies 

• Crypto- is short for “cryptography”, a computer technology used for securing and hiding information, among other things. So that sums up Cryptocurrency as “Hidden Currency” or the currency which you can't see-"Virtual Currency".The technology around cryptocurrencies effectively give them the same traits as regular, cold hard cash.

• So, if you were made to believe that cryptocurrencies looks like this ↓↓↓

It doesn't, it just does not look like anything. It is only a record of a transaction that is "virtual".

Bitcoins 

• Bitcoin was the first widely adopted cryptocurrency, and was created in 2009 by Satoshi Nakamoto. No one knows who Satoshi is, the developer could be a guy, gal, or a group of people. 

• The purpose behind bitcoin is to allow one person to directly send money to another. This type of transaction is known as “peer-to-peer”. 

• In other words, bitcoin allows Ajay to pay Bobby directly, whether they’re a Km away or across the globe. Bobby and Ajay don’t need to use a trusted third party like a bank or Paytm to process their transaction.  

Bitcoin mining 

• Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. Anyone with access to the internet and suitable hardware can participate in mining. 

• Every bitcoin transaction is recorded and verified on a public, digital record. There are over 7,000 people using their computers to simultaneously keep identical records of these transactions. The purpose of so many records is to reduce the risk of any single person or group manipulating and falsifying the data.

It kind of looks like this in an actual Bitcoin Mining process  ↓↓↓

Why invest in cryptocurrencies?

• A new way to transact outside of the government. 

• A way to gain 100% control over your money, outside the sphere of influence of any organization, government, or bank. 

• A new, very volatile investment that has probably made as many fortunes as it has broken.

Why not to invest in cryptocurrencies?

• It is not completely legal in our country.

• You cannot use it for your daily needs.

• The value of the currency is not stable; the rate of these currencies can change any time.

• No guarantee of the currency.

• No banks accept cryptocurrencies.

• It can easily be stolen as it is stored in pendrives or hard disks.

• People can even sell you fake cryptocurrencies.