Cryptocurrency Defined and 3 Top cryptocurrencies

What is Cryptocurrency


cryptocurrency is a digital wallet acting as  a medium of exchange. Ownership records are stored in a computerised database in form of ledgers. Strong cryptography is used

  • To secure records
  • Control coin production
  • Verify transactions and transfer of ownership

There is no central authority to monitor the exchange, meaning, it is a decentralised type of currency exchange with no central control or regulations like in the banking sector. It works through a distributed ledger technology that serves as a database

According to Jan Lansky, a cryptocurrency is a system that meets six conditions

  1. The system does not require a central authority.
  2. The system keeps an overview of the ownership and cryptocurrency units.
  3. The system defines whether new cryptocurrency units can be created. If new cryptocurrency units can be created, the system defines the circumstances of their origin and how to determine the ownership of these new units.
  4. Ownership of cryptocurrency units can be proved exclusively cryptographically.
  5. The system allows transactions to be performed in which ownership of the cryptographic units is changed. A transaction statement can only be issued by an entity proving the current ownership of these units.
  6. If two different instructions for changing the ownership of the same cryptographic units are simultaneously entered, the system performs at most one of them.

Some cryptocurrency terms explained


Blockchain. These are basically records or blocks which are linked to the previous block with time stamps and the data pertaining to the transaction. It cannot be modified easily and records transactions in a verifiable and is permanent in nature. One the block chain records are completed it cannot be altered without affecting other blocks. As it is not controlled by any agency and is of a public nature the transactions are protected. Of course, attacks by hackers and cyber crime experts make them vulnerable like anyone else.


Time stamping. Various  time stamping schemes are added to prove the validity of the complete transactions. These add to the authenticity value of the transactions which can be easily verified. Some popular methods are based on SHA 256 and scrypt, crypto night, Blake and SHA 3.



Cryptocurrency Mining. It is basically a validation of transactions. This results in new cryptocurrency for the miners as a reward. Of course this needed large investments of capital for the machinery and high performance ASICS and the algorithms. These produced extreme heats and the cooling facilities do not come cheap. (Mining at full throttle, Bitcoin  draws about 220 watts. That’s 716 BTUs of heat per hour or 17,184 BTUs per day). Ref (

The top cryptocurrencies in the world based on market capitalisation.

Bitcoin (BTC) $128bn

Ethereum (ETH) $19.4bn

XRP (XRP) $8.22bn

Tether (USDT) $6.4bn

Bitcoin Cash (BCH) $4.1bn

Bitcoin SV (BSV) $3.4bn

Litecoin (LTC) $2.6bn

EOS (EOS) $2.4bn

Binance Coin (BNB) $2.4bn

Tezos (XTZ) $1.5bn


Top cryptocurrencies explained.

The following paragraphs will explain the top three cryptocurrencies.


Bitcoin has been the most discussed cryptocurrency. It has had major upswings and downswings bringing extreme joy and disappointments based on the trend. the cryptocurrency skyrocketed up to roughly $20,000 per coin in 2017, but as of 07 Oct 2020, more than three  years later, is currency trading at $10626, a little more than half of the rate. It is the first totally decentralised peer to peer payment network. The users are the masters and there is no central authority or middlemen. Bitcoin was conceptualised and invented by an anonymous person called Satoshi Nakamota in 2009 who after publishing the specification and conceptualisation of Bitcoin preferred to leave the project in 2010. He has remained in anonymity since.

Bitcoin has ultimate control with the users. There is no centralised agency to control the same.

Use of Bitcoin

It is used by number of businesses like law firms, restaurants and online services. Its usage is expected to multiply rapidly as the governments across the world come to grips with the phenomenon and decide the modalities of usage, transaction usage, security and taxation of the same. As of May 2018, the total value of all existing bitcoins exceeded 100 billion US dollars, with millions of dollars worth of bitcoins exchanged daily.  (


The second largest cryptocurrency platform based on market capitalisation after Bitcoin. Ethereum is the second-largest cryptocurrency platform by market capitalisation.  Ethereum serves as the platform for over 1,900 different cryptocurrencies and tokens. It is currently trading at $337. It is also based on blockchain technology.


Bitcoin and Ethereum compared

Being the frontrunners of the digital currency, it is prudent to compare the two cryptocurrencies.

Bitcoin is considered money but Ethereum is a platform which aims to run applications

The Bitcoin block time is 10 minutes but Ethereum is of 13 seconds.

The transaction fees for Bitcoin depends on the size of the transaction but Ethereum depends on computational complexity.

Bitcoin pricing is based on speculation but Ethereum is not speculation based.


It is a digital money  built for payments. It is based on open source, permissionless and decentralised blockchain technology which can settle transactions in 3 to 5 seconds. It can be sent directly without needing a central intermediary making it a convenient instrument in transactions by bridging two different currencies quickly and efficiently.

( It is currently traded at $0.24.

It is originally the name of the company that is responsible for creating and transferring global payments using XRP. This system offers to break free all the walled gardens which the financial network makes with currency exchanges, processing delays and fee structure. Ripple platform is created to provide the users to transfer amount from different currencies in a fraction of minutes, from anywhere around the globe. Current methods which are used for sending money to different countries internationally has been outdated. Besides, Ripple solves this problem and plans for a collaboration with financial systems throughout the world and offers a solution via blockchain. By following Ripple’s global network, financial institutions process the user’s payments from anywhere in the world cost-effectively, reliably and instantly. (

Cryptocurrency future.

There are many Bitcoin supporters who believe that digital currency is the future. Many of those who endorse Bitcoin believe that it facilitates a much faster, low-fee payment system for transactions across the globe.

top cryptocurrency

The main issue with Bitcoins and cryptocurrency is the lack of government approval and clarity in transactional matters. Further, these are subject to hacking and cybercriminal activity. There are also apprehensions about its usage in terrorist activities. However, it is felt that the governments have to accept the legality of the same in future and regulations for taxation etc will be put in place soon so that it becomes legal tender across the world.

Earn from Blogging

Earn from Blogging is a trend where people have resorted to voicing their feelings, opinions, knowledge, ideas and experiences in the written form.

What is blogging and how does it work

Webblog has been abbreviated as blog. It is basically a website which caters to information on a particular field, area of expertise or topic. It could be on a range of topics from personal to something projecting in the future.

Most blogs are on topics on which the author has some knowledge or experience which makes him an expert to some extent. These are then projected in written script for the online readers to explore and assimilate. Experience  gained over years of working in a particular field, knowledge gained as a result of studies and research form a major bulk of blogging. However personal musings have also been blogged. Blog Content is the main factor in any blogging website. The quality of the content, its meaningfulness and relevance adds to the charm of any blogging website.

earn from  blogging

Definition of Blogging

Google Dictionary

It is a regularly updated website or web page, typically one run by an individual or small group, that is written in an informal or conversational style.

Merriam Dictionary:

It is a website that contains online personal reflections, comments, and often hyperlinks, videos, and photographs provided by the writer

The purpose of a blog

The purpose of a blog is to connect with the online users who could be potential audience or likely customers

Personal blogs.  These are musings and  experiences shared over the internet. It serves as a means of sharing information for recreational or casual browsing purposes. We have blogs wherein military veterans have shared their experiences, some humourous, some tragic which reflect the ways of the forces and gives the reading public a glimpse into the uniformed world, the pain the anguish the joys and the thrills associated with service to the nation

Business blogs These blogs are aimed at earning income. It could be from sale of products or using knowledge or experience to act as a trouble shooter or a problem solver. They focus on increasing visibility to drive in the traffic which then results in business proposals and ultimately acting as a source of income . They focus on google website ranking, the better the rank, more is the visibility which converts to business.

Types of blog

Personal Blogs

These are blogs which focus on personal interests, hobbies, likes, dislikes and experiences. These could be personal in nature, in that they cover the author’s niche experience and expertise with an idea of sharing knowledge. Or, could be political wherein the political scenarios is discussed threadbare voicing own opinions. They target a like minded audience. A very good example are the bloggers on subject of biking. They share information about bikes, their biking trips, the mishaps, breakdowns and the experience. They draw their own fan following over a period of time. The niche blogging could be a kind of personal blog too unless it is aimed at generating income.

2. Building your brand blog

The blogger is the brand here. The reputation built, the knowledge gained and the lessons of experience make the brand. The bloggers here use their knowledge to provide consultations, guidance and coaching with a view to enriching the lives of the reader. Some focus on problem solving and trouble shooting to help the user in their hour of need or difficulty. They use scripts, videos and presentations to put across their points. Astrologers, numerologists, domain experts are prime examples of such bloggers.

3. Business Blogs.

They focus on selling their products. It could be physical products or virtual, like coaching classes, online classes and so on. These are run by corporates or business houses. They focus on attracting customers with an aim to convert the traffic into sales.

Affiliate products blog

These are focussed on products. The products are explained in the form of tutorials and guide along with user experience with an aim to drive the user to the platform of the seller through affiliate links. These are one of the more popular blogging methods and has really made some affiliate marketers very prosperous.

Miscellaneous Blogs

Some other blogs which are  in vogue  are

Personal Services like babysitting, hair dressing massages, physical training car washing etc. The  idea is to get hired.

Repair services like plumbing electrical works, car servicing and so on. Again, the idea is to get hired

Blogs on hobbies

These blogs focus on passion about a topic and converting them to small time businesses. They target inviting advertisements on their blog which when visited generate income. These could be sports, music, culinary etc.

Guest Blogs

A blog which is already popular  could invite guest bloggers who are experts in their field. This leaves the blogger with just managing his website with the content coming in from experts.

How do you earn  Money from Blogging

There are myriad ways of earning money from blogging

Affiliate marketing.

These  works by adding tracked affiliate links into the text of your blog. You can make a small commission every time a reader clicks through to a site you recommend and makes a purchase. The links will lead readers to the website of a brand. These programmes are adopted by almost all ecommerce behemoths. This is economical and advantageous to both parties and the ecommerce portals gain a much farther reach and also had many more retailers (in form of bloggers) who advertise their products. The key of course is integrity and promotion of good quality products

Google adsense

Google places ads on your website based on content and traffic. These are paid for by the advertisers and the amount varies based on payments made by them. You either earn by ‘cost per click’ or ‘cost per thousand’

Social media post.

In case you are a very visible player with a good social media following or someone with a niche following then you will be approached by brands to sponsor their products.

Selling products.

The blog could cover a particular type of product or brand and used to sell the article directly

Lifestyle blog.

These are based on the life, likes, hobbies and passion of the author and these are focussed on making the experience enriching for the reader. A biker, mountaineer, adventure seeker, fitness enthusiast generally experience themselves and share the same with their readers. In a way the reader is living the experience through the eyes of the author. Based on the kind of blog, products are sponsored through these  blogs to attract attention. Of importance is the quality, relevance and amount of traffic the blog generates.


The quality of the blog along with the relevance give your blog that visibility and drives web traffic to it. It also helps you build a brand for a niche audience. To make money your blog needs to have content which is relevant, possibly something which is trending and have content which is sought after by the audience. Quality, integrity and relevance are the key words here. Happy blogging.

Cryptocurrency. Have you explored it

Earn online through cryptocurrency

A new digital or virtual currency called crypto currency has taken the world by storm. Though in the initial stages with a lot of governments still undecided whether to legalise the same, it is certainly poised to change the way currencies are traded.

 A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation. (

The process involves using It uses cryptography to secure and verify transactions and exercises stringent control on new units of a certain cryptocurrency.

Cryptocurrency History

Advent of technology in the early 90s did see a concerted focus on creating digital currencies but due to various issues like lack of secure processes, frauds, financial issues and basically lack of clarity and attempts to make a quick buck led to failure. Mainly the fact that they used a third party approach, the sponsoring companies facilitated the transactions and their viability depended on the financial health of the sponsoring company. Some examples are Beenz, Digicash etc.

Early 2009 saw the advent of an anonymous programmer Satoshi Nakamoto who with his team of programmers introduced Bitcoin,  a ‘peer-to-peer electronic cash system which involved a decentralised transactions, ie without servers and no central controlling authority. It was a direct sale and purchase with the help of block chain, akin to a public ledger of all transactions open to everyone. The digital wallet addresses of the seller and buyer are involved and every deal specifies the same with the number of coins involved in the transaction. Currently, it is the top cryptocurrency

Subsequent to bitcoin new players like  Litecoin, Ripple, Ethereum etc are in the fray though they have not gained much traction and not traded universally yet.

The functional use of crypto currency

Purchase of goods

A lot of merchants now accept Bitcoin as a mode of payment. They range from small time retailers to the large players like Overstock. It can be used to pay for daily purchases to big transactions like jewellery, hotel reservations and so on. 

Instrument of Investment

The zooming value of Bitcoin has opened up the possibility of creation of many millionaires. These are now felt to be red hot avenues of investment. Bitcoin has seen the birth of new millionaires. In 2016 it was valued at $800, in 2017 around $7000,  and currently $10660 that is around 7.86 lakhs INR. However on the cautionary side, it has seen massive upswings and downswings which make it a high risk investment

Ethereum, perhaps the second most valued cryptocurrency, is now valued at $353 ,ie around 20,000 INR.

In the earlier days, Bitcoins could be mined using a computer. Seeing the potential companies invested in industrial mining hardware setting up extensive manufacturing servers involving extensive use of electricity and infrastructure. JHowever the latest trend is mining through mobiles with minimal use of data and battery and certainly no overhead cost like Pi Network. Other crypto currencies for beginners are Dogecoins and Litecoins.

Some common cryptocurrencies

  • Bitcoin — The pioneer who started the revolution.
  • Ethereum — A programmable currency that doesn’t work with Bitcoin.
  • Ripple — Does not use  Blockchain, rather  an iterative consensus process is implemented. It is faster than Bitcoin but prone to being hacked

Some other cryptocurrencies are

Crytptocurrency India

Are cryptocurrencies legal in India

India has entered the realm of cryptocurrencies with the recent judgement of the Supreme Court which legalised Bitcoins. Of course the regulators are not too happy as these are decentralised and self sustaining with no central agency controlling it. The legal frameworks are being explored.

Issues with Crypto currency

 No government Backing

No government Backing

They are not backed by the government or cushioned with gold reserves. If the company which is providing the same collapses, then your money is as good as gone. The government might not be able to retrieve the situation.
Unregulated Currency. As the cryptocurrency is unregulated it is prone to wild swings both up and down which makes it a high risk investment susceptible to manipulations. A cryptocurrency’s value changes constantly. Its value can change by the hour.

No guarantee of profitability. There are no promised returns. Bitcoin has ruined some people though others have profited from it. It certainly is not safe investment where there is no regulation, no control and where it is prone to manipulation.


No legal protection.

Once a payment is made, it is gone unless the seller sends it back. And it is very difficult to ascertain the whereabouts and the antecedents of the buyer and the seller.

 Public domain.

The information of the holdings is in the public domain. It could be the value of the transaction, the wallet addresses. These could be used to identify the parties involved

Risk of Hacking.

Being primarily online, there is a risk of the online wallet being hacked and the currencies illegally transferred.

Final usage.

This is an area which has raised a lot of concerns. Decentralised, potential for anonymous usage has raised concerns on the same being used for money laundering, tax evasion and terrorist activities.


Price Manipulation. 

By far the biggest issue in the cryptocurrency market is the excessive volatility. The prices of cryptocurrencies on exchange platforms rise and fall dramatically over a short period of time. The major contributor to the excessive volatility are the ‘whale activities’. Whales are individulas with large holding of cryptocurrency who can swing the market by manipulating prices

Cyber Criminals.

Cryptocurrencies have been subjected to attacks by these cyber criminals resulting in loss of millions of dollars. Though there have been attempts to make the wallets secure by storing in off line wallets. These measures though helpful create new hurdles in smooth and quick operations.

Loss recovery.

The same is difficult due to lack of regulations and control.

Future of cryptocurrency.

Cryptocurrency is digital money. That means there’s no physical coin or bill — it’s all online. It is a peer to peer business without a central agency like a bank to interfere or regulate the same. The market of cryptocurrency is growing every day. It does suffer from regulatory and other issues. The main cause are the infancy stage of the market, lack of understanding and the novelty of the concept. The cryptocurrency market is currently valued at a market capitalisation of $237 billion with Bitcoin being traded as the best crypto currency.