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What skills one should possess before enrolling into CFA program?

Chartered Financial Analyst examination is considered to be one of the most prestigious and reputed designations in the field of finance. To become a CFA, one needs to clear all three levels of CFA examination. This post graduate program is offered by CFA Institute, California. The CFA institute accommodates more than 150,000 charter holders which are spread across 163 countries.

What it takes to become a CFA-

Passing the CFA exam needs a lot of preparation and self study. Clearing the examination isn’t a cake walk. It is challenging but like every other challenging thing in the world, it is totally worth the efforts. As per CFA Institute, the CFA charter is the most honorable and reputed investment management designation in the world.

If you wish to earn this batch of respect, then some common questions must have crossed your mind such as “What skills should one possess before enrolling into CFA program?”

To become a CFA, one must possess the following skills-

Discipline-

It is usually seen that individuals are keenly interested in giving the CFA examination without paying heed to the level of discipline required to clear it. One requires a minimum of 22 months to pass CFA exam. The discipline required by a CFA aspirant can be seen through their daily schedule and lifestyle. It demands them to say ”no” to certain opportunities and hobbies. Finding such a strong discipline is rare in individuals.

Time management-

Time management plays a crucial role in the life of a CFA aspirant. A student who wishes to pass the CFA exam needs a minimum of 300 hours per level as a part of his/her self study and preparation. Besides, maintaining a balance between personal and professional life becomes tough as one is unable to give proper time to friends, family and self study. Efficient time management is obligatory for an individual to earn the CFA charter.

Diligence-

There are no shortcuts to become a CFA charter holder. One needs a lot of diligence and practice to clear CFA exam. Making a proper schedule, getting in touch with one of the best CFA exam prep providers, giving abundant revision tests and mock exams, being acquainted with the CFA syllabus is essential to have proper knowledge of every critical and fundamental concept related to CFA examination.

Focus-

We all are bound by distractions in this world. Therefore, keeping the right amount of focus and dedication is important to become a CFA charter holder. Once an individual gains the right amount of focus, he/she can succeed in clearing the CFA program.

Integrity-

To become a CFA charter holder, one must maintain a set of ethics and integrity. A Chartered Financial Analyst is believed to complete a thorough analysis without any sort of personal preference or bias. Upholding the respect and ethics of a CFA charter is of utmost importance here.

To know more about the skills and expertise required before enrolling into CFA program, click here.

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CFA level 2 exam-

CFA course-

CFA Institute offers CFA (Chartered Financial Analyst) post graduate program. The CFA certification is known to be one of the highest distinctions in the field of finance and investment. The gold standard in finance industry is considered one of the most prestigious and reputed designations. The CFA institute accommodates more than 150,000 charter holders which are spread across 163 countries.

To become a CFA charter holder, one needs to clear all three levels of CFA examination.

CFA exam level 2-

The eligibility criteria to give CFA level 2 examination is clearing CFA level 1 exam.

Structure and duration-

The CFA level 2 exam includes set of questions in a multiple choice answer format. Earlier, offline exams were held. However, due to covid-19 situation, the exams would be conducted through online method i.e computer based. The online mode of examination has a duration of 4.5 hours, divided into two sessions with an additional break if required. There are 44 multiple choice items each in both sessions which implies there are total 88 questions. Each question is worth 3 points. The multiple exam questions are not free standing like the way it was in CFA level 1 exam. Here, multiple choice answers should be given based on the information in the vignette.

Preparatory time required-

One of the key advantages of giving the CFA exam is that it provides ample time to the candidates for the preparation of the examination. A student can easily modify their preparatory time as per their own circumstances. As per average of CFA aspirants, the total time spent in studying for the CFA level 2 exam is 328 hours. Depending on an individual candidate’s capability and pace to complete the CFA level 2 exam preparation, every CFA candidate differs in their study time.

The CFA level 2 exam results are announced within 60 days post the examination.

CFA level 2 exam dates 2021

Below are the CFA level 2 exam dates 2021-

- 25 may-1 June

- 31 Aug- 4 September

- 26–30 November

CFA level 2 pass rates-

It has been seen the pass rates for CFA level 2 exams are fixed at around 45%, which is more than the CFA level 1 exam pass rate of 43%.

The CFA level 2 exam is scheduled to be conducted in 400 test center locations around the world. Candidates have the choice of selecting their test centre location as per their comfort.

Exam weightage of CFA level 2 syllabus 2021-

Ethical and professional standards- 10–15%

Quantitative methods- 5–10%

Economics- 5–10%

Financial Reporting and Analysis- 10–15%

Corporate finance- 5–10%

Equity Investments- 10–15%

Fixed Income- 10–15%

Derivatives- 5–10%

Alternative Investments- 5–10%

Portfolio Management- 10–15%

To know more about CFA level 2 examination, click here.

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CFA level 1 exam details-

CFA Course-

In the finance domain, Chartered Financial Analyst is considered the highest distinctions. An individual with a CFA degree has an edge over other finance professionals in the investment management industry. CFA institute, California, offers CFA program. The CFA Institute comprises more than 150,000 charter holders which are spread across 163 countries.

CFA exam levels-

All three levels of CFA charter i.e. CFA level 1, CFA level 2 and CFA level 3 help an individual gain optimum exposure in various curriculum topics of finance such as quantitative methods, economics, financial reporting and analysis, tax analysis, equity investments, portfolio management, performance measurements etc. With every passing subject level, the difficulty increases. Without a doubt, CFA level 1 is less complex than the other two levels. Each level of CFA exam is a way to test one’s knowledge and expertise of the subject.

CFA level 1 eligibility-

Candidates who wish to pursue CFA level 1 must follow the CFA eligibility criteria. The eligibility of CFA program is as follows-

- A candidate must have a Bachelor’s degree or equivalent in any discipline from a recognized institute or college.

- A candidate who is in the final year of Bachelor’s program at the time of registration can also apply for the CFA program.

- Applicants need to have at least four years of work experience in relevant finance domain.

- When you are registering for CFA certification, you should have a valid passport.

A minimum time period of 6 months is required to prepare for CFA level 1 exam.

CFA level 1 exams-

In 2021, a candidate can appear for the CFA level 1 exam in February, may, august and November. CFA level 1 exam in 2021 comprises two sessions during the same day with a break if needed. However, to appear for the next level of CFA exam, it is obligatory to clear the preceding level. The exam comprises multiple choice questions and answering every question is compulsory. On an average, a candidate will have 1.5 minutes per question. There are no penalties for the wrong answers in the exams. Level 1 questions are distinguished on three types- theory, computing, and reasoning questions. Theory questions involve display of various financial concepts, along with different models, theorems, or disciples. Computing questions imply using the financial calculator to carry out some mathematical process. Reasoning questions need the ability to develop a relationship between various concepts.

If you wish to know more about CFA level 1 exam or CFA level 1 syllabus, click here.

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CFA exam curriculum

The prestige and value associated with earning a CFA charter is priceless. Passing the Chartered Financial Analyst exam and holding the charter isn’t an easy task. It is a very difficult and strain full process. A CFA exam not only tests one’s intellectual skills but also their dedication, determination and creative side. The program is built in a manner to check your passion towards becoming a certified financial analyst. The CFA program comprises the basic knowledge that companies require in the investment and finance domain. It also includes advanced management skills which are crucial to survive in the investment management industry.

The CFA Institute, California, keeps updating its curriculum regularly to reflect their modern financial practices. One of the most astonishing facts about CFA candidates is that they can put their acquired skills through CFA program into real world scenarios. The CFA syllabus is designed through an Education Advisory Committee. Key players such as industry practitioners, security market regulators, policymakers and university faculty constitute the committee. The core curriculum topics of CFA examination include ethical and professional standards, quantitative methods, economics, financial reporting and analysis, corporate finance, equity investments, fixed income, derivatives, alternative investments and portfolio management.

After registering for the CFA exam, one can gain access to a lot of study materials and resources. The best CFA study materials can be helpful to prepare for the CFA exam. One can avail official program curriculum, CFA syllabus, study session for each level of CFA exam, custom study plans, practice questions, mock exams, study resources and tips.

To know more about CFA level 1 syllabus and best CFA study materials, click here.

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CFA Scholarships

Chartered Financial Analyst course is a post graduate certification program conducted by CFA Institute, California which includes current practice, investment theory with ethical and professional standards to impart investment analysis and portfolio management skills. CFA exam covers curriculum topics like ethical and professional standards, securities analysis and valuation, international financial statement analysis, quantitative methods, economics, corporate finance, wealth management, portfolio management and portfolio analysis.

Often people can be heard saying that CFA is a bit expensive course to pursue especially when you compare it with other courses that are indeed very economical. But the CFA Institute does have few scholarship programs through which they offer scholarships to eligible candidates every year. These scholarships cover the most part of course registration and exam fees making it durable for people from humble backgrounds.

CFA Institute provides CFA scholarships to make the CFA charter more accessible and feasible for every section of society. It reduces the CFA program fee to make it affordable for the candidates. It provides ample opportunities for people to prosper in their career and promotes highest standards of ethics, education, and professional excellence. The scholarships are a means to allow more people to participate in CFA program and give a great acceleration to their career in the field of finance.

CFA Institute provides scholarships to the students on the basis of applications received from them. These scholarships are awarded under various categories such as Access Scholarship, Women’s Scholarship, Student Scholarship, Professor Scholarship, Regulator Scholarship and Media Scholarship.

Usually, they ask for the educational background a candidate has and certain details about incomes, expenses, assets and liabilities. They offer scholarships on the basis of need and financial situation of a candidate. So, if one wishes to apply for it, he must definitely do so as the scholarship reduces the cost of registration and exam to a great extent and makes it affordable to pursue.

Access (need-based) scholarship is given to individuals who find it difficult to afford the CFA program fees. The fee is reduced to USD 250.The second type of scholarship is women scholarships. They are available for working women who wish to earn the CFA Charter, are not eligible for other CFA institute scholarships, and have not enrolled for their next exam. The exam registration reduced to USD 350.

Student scholarships are available for students who are presently attending an affiliated university, and have not enrolled for the next examination. The exam fee under student scholarships is reduced to USD 350. Further, professor scholarships are availed by full time college/ university professors or administrators/department who have a specified amount of teaching hours along with employment verification attachments. The exam registration fee here is decreased to USD 350.

Regular scholarships can be availed by employees of financial regulators, central banks, government entities etc. The organizations that control or regulate operations, business conduct of the investment management industry. Media scholarships are suitable for full time or contract employees of media organizations that propagate financial news, data and education.

Click here to know more about chartered financial analyst course scholarships and deadlines for applying the same.

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Ban on Crypto currency- Boon or Bane?

Recently, the government has initiated introduction of a new bill to ban crypto currencies like bitcoin, altcoin and create its own digital currency. The idea of ban on cryptocurrency has created a paranoid situation for industry leaders and entrepreneurs. This is not the first time that the topic of “cryptocurrrency ban” has come into limelight. The Reserve Bank of India (RBI) had prohibited the buying and selling of cryptocurrencies for two years before the ban was overruled by the Supreme Court in March 2020.

The bill drafted aims to “create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India (RBI)”. Governments from all over the world are working to regulate cryptocurrency and its working. However, there isn’t any major economy which has been successful in taking this bold move. The major concern of government includes illicit trading in cryptocurrency. The central bank has time and again raised its concerns regarding the rising usage of digital cryptocurrencies and the growing risks associated with them. Increasing level of black money due to absence of any regulatory body is a huge threat in the usage of cryptocurrency. The government in 2018 cited “various risks associated in dealing with such virtual currencies.” High chances of money laundering, fraud and even terrorist funding may exist.

On the other hand, entrepreneurs and industry leaders criticized the proposal of ban on cryptocurrency and urged the government to consider regulating the crypto currency exchange. Currently, over 7 million people own over $1 billion worth of digital assets in India. Industry leaders view cryptocurrency as the future of new age trading and innovative technology. Proponents of cryptocurrency do believe that there must be digital currency just the way US, China etc. are trying to create their own currency.  However, a complete ban on cryptocurrency would further create chaos. To safeguard the interests of the nation, regulation of the currency is more feasible than imposing a ban on cryptocurrency exchange. There are a lot of countries like Japan which have regularized cryptocurrency under their jurisdiction.

The need of the hour is to consider the pros and cons of the proposed bill and not curtail the right to buy and sell cryptocurrency. A regulatory authority should be set up to control the working and functionality of cryptocurrency like bitcoin, altcoin and etherium.

Click here to get detailed information regarding understanding cryptocurrency.

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CFA Exam Schedule

Currently, the only question buzzing around student’s mind is “When is the CFA exam?” Every Chartered Financial Analyst aspirant who wishes to earn the gold standard in finance profession is curious to know CFA exam date and details. Due to coronavirus, the CFA exams which were scheduled to be held on June 2020 were postponed. Numerous CFA exam December 2020 sittings were cancelled due to exam center closures.

In January, CFA Institute, California made a decision to provide the option of postponing the exam for February 2021 to one of these windows: May 2021, July 2021 or August 2021 with no additional cost.  This was in accordance with the increasing government restrictions and covid-19 cases.

It implies level 1 candidates who enrolled themselves for June 2020 or December 2020 examination, have an option to register for a new march exam window which is exclusively available for them. The new July exam window is open to all CFA aspirants. The candidates who faced an issue of full capacity for February exam can opt for July exam window as per CFA Institute.

The dates for CFA exam level 1 2021 windows are as follows-

February 23–March 1, 2021

May 18–24, 2021

July 18–24, 2021

Aug. 24–30, 2021

The dates for CFA exam level 2 2021 are –

May 25–29, 2021

August 31–September 4, 2021

November 26–30, 2021

The dates for CFA exam level 3 2021 are-

May 25–27, 2021

September 1–8, 2021

November 23–25, 2021

Click here to know more about CFA exam.

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What are moving averages?

Under technical analysis, indicators have a crucial role to play. Indicators are pattern-based signals made through price, volume, and/or open interest of a security or contract used by traders who follow technical analysis. Indicators are used to forecast price movements. Some examples of common technical indicators are- moving averages, moving average convergence divergence (MACD), relative strength index (RSI), Bollinger Bands and Exponential moving average (EMA).

The moving average (MA) is an indicator used to find out the direction of a current price trend regardless of the short term price fluctuations. The moving average formula as a technical analysis indicator, finds out price data by updating a regular average price. When the moving average is showcased through a price chart, a single/ flat liner removes any differences caused due to changes in price. They do not forecast the direction of price, instead define the current direction in accordance with the past prices. Therefore, it can be said that moving average is a lagging indicator. It is interesting to know that they are the founding stones for other indicators in technical analysis such as Bollinger bands and MACD.

The two major types of moving averages are simple moving average (SMA) and Exponential moving average (EMA). Simple moving average (SMA) is made by calculating the average price of a security over a consistent time period. Moving averages are typically based on closing prices. As the name suggests, SMA is an average that moves. Exponential moving average (EMA) lowers the price lag by stressing more upon the recent prices. EMA and SMA differ on the pretext that EMA places a greater degree of emphasis on previous data points, making data more inclined towards new information.

Click here to know more about moving average formula.

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Will CFA get me a job?

CFA certification is considered the highest distinctions in the investment management profession. After earning the CFA charter, one possess the required amount of knowledge and skill set required to excel in the investment industry. To obtain a CFA Charter, a student has to clear three levels of CFA exam. Passing the CFA examination is a difficult task but it is a fruitful process. Becoming a CFA Charter holder and enrolling for the CFA program paves a way towards your success in the investment domain.

Portfolio manager and research analyst are the major professions opted by people who own the CFA designation. After owning a CFA charter, one can choose a lot of professional designations such as corporate financial analyst, accountant, auditor, consultant, risk analyst/manager, relationship manager/ account manager, credit analyst etc. After clearing CFA exam, one gets a renowned designation in the field of finance.

Companies and professionals in the investment industry help clients make better investment choices through their extensive services in the financial markets. Due to the enormous benefits offered by CFA certification, it is considered as the topmost for professional development in the investment industry. The CFA program holds immense value in every arena of the global finance industry. Hence, it is crystal clear that the job prospects after CFA are huge. The CFA exam is difficult to crack, but through proper guidance and support, one can clear CFA examination.

To know more about CFA, click here.

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Will cryptocurrency be the future?

The journey of altcoin and bitcoin, forms of cryptocurrency exchange, started in 2009. It was used for peer-to-peer transactions without the involvement of a third party such as a central bank. People who made transactions through digital currency in early times earned millions owing to value fluctuations. Thus, the price reached about $19.783 (around €16.17) per bitcoin in late 2017. This effect was called the “price bubble” by critics. This created a trend of buying, selling and trading bitcoin. New cryptocurriences were also introduced- Litherium in 2011, Ripple in 2012, Ethereum in 2015.

Over the time span, digital transactions have created their way to success. A huge shift from traditional monetary system of exchange to digital currency has been seen. The significant rise in cryptocurrencies results from the failures in existing financial system. The new system of digital payments is not only easy to execute, but transparent too. The cost of financial transactions through cryptocurrency exchange is much lower in comparison to the traditional methods of payment.

Cryptocurrencies have revolutionized the way monetary exchange took place in early times as it gave people the right to be their own bank. The year 2021 brought a new wave of success as bitcoin broke through $30,000 for the first time on 2 Jan. Few hours later, it turned $32,000. On Jan 7, it hit $40,000.

Recently, the operator of the world's largest Bitcoin (BTC) mining facility signed a deal with japanese mega-firms SBI and GMO. McGlone on this news commented “ Bitcoin is attracting more institutional investors and with the notion of limited supply and mass adoption- Bitcoin is winning this race.”

This wave also lifted altcoin, which brought the overall crypto market cap above $1 trillion for the first time. Looking at the way bitcoin is setting new record highs each day, it won’t be wrong to say that cryptocurrency is the future of new age trading.

To know more about cryptocurrency, click here.

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How technical analysis works?

Stock market technical analysis implies the study of historical market data, such as price and volume. Through the help of market psychology, economics and quantitative analysis, individuals use technical analysis to forecast future market behavior based on past performances. Chart patterns and technical analysis indicators are two common forms of it. Traders make their decisions based on technical analysis to know what is likely to happen in the stock market.

Traders may use simple trend lines, volume indicators, chart patterns, technical indicators to make their decisions.

Candlestick chart is the most commonly used chart pattern. Each candlestick chart denotes different price action in different time periods. For example, every candlestick on an hourly chart shows the price action for one hour, while every candlestick on a 4-hour chart showcases the price action during each 4-hour time period.

Support and resistant levels are used to find out the price points on chart patterns where the probabilities favor a pause or reversal of a current trend. Support happens when a downtrend is expected to stop due to surplus demand. A concentration of supply causes an uptrend to pause, which leads to resistance. Support and resistance can be identified on charts through trend lines and moving averages. Price action shows the movement of a security’s price plotted over time. This movement is seen due to the changes in price in recent past.

Indicators are an important element of technical analysis. Indicators are pattern-based signals created through the price, volume, and/or open interest of a security or contract used by traders under technical analysis. They are utilized to confirm the price action moments. There are different kinds of indicators such as the relative strength index, moving averages, stochastic RSI, MACD and Bollinger Bands.

Click here to know more about stock market technical analysis.

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Is CFA exam tough?

Clearing the CFA program needs discipline, focus and extensive studying hours. One must have a proper plan and the right kind of guidance to pass all three levels. The exam consist of different topics such as economics, finance, ethics and professional standards, corporate finance, equity, derivatives, portfolio management etc.

The preparatory books provided by CFA institute are a bit complex for the students to understand. That is why students find it difficult to study for CFA exam and look for alternative preparatory materials. Getting the right assistance is essential to clear Chartered Financial Analyst Course easily.

The test material for CFA exam is extremely difficult. The questions in the examination are designed to trick the candidates. Therefore, it is important for the students to give mock tests so as to stay updated with the similar type of questions offered and feel confident to clear the exam in the first go.

It won’t be wrong to say that CFA exams are very difficult; however earning the CFA Charter is no small achievement. Clearing the CFA program is a fruitful experience. It is a true test of hard work and commitment. Getting the gold standard in finance is quite rewarding and deserves full dedication.

A structured study plan and guidance from an expert is what one needs. As a designation in the sector of finance, CFA is recognized by companies globally. Clearing CFA exam is just the beginning towards an individual’s success in finance domain. To gain access to the extensive network of CFA professionals, one should avail the best CFA coaching.

To know more about CFA examination, click here.

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What are Ethereum and Ripple in Cryptocurrency?

Cryptocurrency is a digital method of payment that can be used to buy and sell goods and services. Cryptocurrencies function through a technology known as “Blockchain”. It is a technology spread across many computers that analyze and record transactions. Ripple and Ethereum are cryptocurrencies that work through blockchain technology. It helps people make easy transactions without physically being present at a particular place. It removes all geographical boundaries and makes the transaction process accessible.

Ethereum was launched in 2015 and founded by Russian-Canadian developer, Vitalik Buterin. It is the first blockchain ever to enable the creation and entering of smart contract agreements by people. A smart contract is a kind of agreement which works on some pre-conceived conditions and proceeds with the transaction after those conditions are fulfilled.

The Ripple cryptocurrency was first produced in 2012, three years prior to Ethereum. Ripple Labs, located in San Francisco, is the private organization that built and launched it. It was created with an aim to produce a blockchain which would make cross border transactions easier and transcend all physical barriers. Ripple cryptocurrency are used by anyone to send and receive funds.

Though Ripple and Ethereum both work on a decentralized system wherein only a single authority has control over the network, there are slight differences between the two. A major dissimilarity that exists is that unlike Ethereum, which allows anyone with a GPU to access and contribute to the network, Ripple makes use of “Transaction Validators”. Only the banks that use Ripple technology can become a transaction validator.

To know more about Ripple Cryptocurrency, click here.

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What are technical analysis indicators?

Indicators are an important element of technical analysis. Indicators are pattern-based signals created through the price, volume, and/or open interest of a security or contract used by traders under technical analysis. Traders who follow technical analysis use indicators to forecast the movements in price. Some examples of common technical indicators are- the Relative Strength Index, Money Flow Index, Stochastic RSI, MACD and Bollinger Bands.

Technical indicators are used by analysts and chartists to study price data and understand when to enter or exit the trade in stock market. It is an instrument produced to study investments and know best trading opportunities, like the volume and price movement. It can be useful for any historical trading data such as futures, stocks, commodities, fixed income, currencies and different securities. Active traders commonly use indicators because they analyze short-term price movements through it.

Indicators in stock market are divided into 2 major categories- overlays and oscillators. Under overlays, the technical indicators are produced in a way to create the same scale like prices are shown on the top of prices on a stock chart. Major examples are moving averages and Bollinger Bands. In case of oscillators, the technical indicators change between a local minimum and maximum which are plotted above or below a price chart. Examples are Stochastic oscillator, MACD or Stochastic RSI.

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How CFA course works?

Completing a CFA course and earning a Chartered Financial Analyst (CFA) is one of the respected designations in finance. CFA charter is considered gold standard in the field of finance. This globally-recognized professional program is conducted by CFA Institute (USA). To achieve CFA Certification, one needs to clear three exam levels which cover areas, like FRA, economics, ethics, equity fixed income etc.

Enrolling for a CFA course provides a lot of benefits to the candidates such as education benefits. CFA helps you learn a lot and add a major credential to your CV. People in the business understand the time and dedication it takes to earn the charter, which makes it one of the most reputed designations in the world. A lot of financial benefits are also attached to it. You get a better hike in salary in comparison to other programs or reach a better designation after you become a CFA.

CFA course serves as a golden ticket in the field of investment. CFA program opens the door for a lot of career opportunities such as portfolio management, research, consulting, risk analysis and risk management, investment strategy, asset management, private wealth management. With the conversion of investment industry into a more competitive environment, it is advisable for any reliable investment manager to earn the CFA charter.

Click here to know more about CFA and how CFA course works.

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What are candlestick charts?

Traders use candlestick charts to know the possible price movement as per their past patterns in the share market. It is an important aspect of technical analysis. Candlestick charts are popular due to the wide range of trading information they provide, in accordance with the easy design to read and interpret.

A lot of algorithms are made on the same price information as portrayed in candlestick charts. On the chart, each candlestick represents the open, high, low, and close price with the time period chosen by the trader. Candlestick also represents the current price in the process of formation, irrespective of whether the price moves up or down over the period of time or the range, the asset covers during that time.

There is a wide part in the candlestick called “body”. This body shows the range of price between the open and close of that day’s trading. A body filled with red symbolizes that the close was lower than the open in the share market. A green body indicates that the close was higher than the open.

Up and down movements in the price make up candlesticks. The candlestick patterns are divided into bullish and bearish in technical analysis. Bullish patterns show that the price is likely to rise, whereas bearish patterns show that the price is likely to fall.

Candlestick charts represent tendencies in price movements with no guarantee. Therefore, no pattern works all the time.

To know more about candlestick charts and technical analysis, click here.

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What is Bitcoin?

Bitcoin is a popular form of cryptocurrency exchange which came into existence in 2009. Through it, transactions are made with no mediator or banks. Bitcoins are useful to buy merchandise anonymously in an exchange organized market. It makes international payments easier and cheaper because bitcoins are not confined to a particular country or subject to regulation. Bitcoins are also brought by people as an investment, in hopes of increased value in the future.

Bitcoin provides less transaction fees than old online payment methods. There are no physical bitcoins, rather only balances which are accessible by everyone. Bitcoins are not provided by any bank or government. Bitcoins have gained immense popularity, and has laid the foundation of a lot of virtual currencies collectively known as Altcoins.

A lot of marketplaces such as “bitcoin exchanges” ensure buying and selling of bitcoins using multiple currencies. The transfer of bitcoins is quite easy as people can send bitcoins to each other through mobile apps or computers just like digital cash. Bitcoins are kept in a “digital wallet”. This wallet is a type of virtual bank account that allows users to buy or sell bitcoins, save money, pay for products etc.

Bitcoin follows the law of demand and supply. Due to changes in demand, there exist a lot of volatility in the cryptocurrency’s price. Copying bitcoins is quite difficult as every transaction is publicly recorded. To know more about bitcoin and cryptocurrency, click here.