If you are asked which is the most used cryptocurrency in the world, then many of you will name bitcoin but this is not true. Bitcoin is not the most commonly used cryptocurrency. However, its value in the world of digital assets is definitely 70 percent.
Must Read: Top German Bank Has Predicted That Bitcoin Will Hit $90,000 in 2020
Now the question is, if not bitcoin, which currency is the most used. The answer is cryptocurrency related website coinmarketcap.com. According to data from CoinMarketCap.com, the cryptocurrency tether is the most used in the world. Despite having a market cap of up to 30 times, it has the highest daily and monthly trading volumes. Tether has been consistently ahead of bitcoin since August based on volume. Let us know that cryptocurrency trading in India is banned. This increases the risk of black money and illegal transactions.
What is bitcoin
Bitcoin is a decentralized digital currency and is the first decentralized digital currency which means it is not operated by any central bank. It is designed for payments based on computer networking. Bitcoin is a virtual currency, virtual means it has no physical form like other currency, it is a digital currency. This is a currency that you can neither see nor touch. It is only an electronic store and if someone has bitcoin, he can buy goods just like the common currency.