Companies In Faisalabad Fooling Citizens Over Digital Currency

Mahnoor Sheikh (@mahnoorsheikh03) Published May 26, 2018 | 03:55 PM

Receiving huge amounts in the name of digital currency investments

Faisalabad (UrduPoint / Pakistan Point News – 26th May, 2018) In Faisalabad, companies continue to fool citizens in the name of digital currency.

According to media reports, huge money from citizens is being received in the name of digital Currency investments. According to an intelligence report, representatives of fake companies are active in different cities of Pakistan. An internet account is given to the citizen on an investment of Rs 32,000 lacs.

One unit of virtual currency Bitcoin is equal to $14,450 (15 lacs, 26 thousand and 281 rupees) which means 30 Tola of gold can be bought from a single Bitcoin. Previous month, Bitcon’s worth reached $9,665. This significant increase in currency has been witnessed when it was divided into two parts last year. The second currency was named as Bitcoin cash.

Hedge fund legend Mike Novogratz has said that the value of the Bitcoin currency exchange will reach $40,000 by the end of 2018. The value of Bitcoin can increase by four times in the next 13 months, he said.

The value of Bitcoin was only $443 in May last year and such n increase in one year is surprising.

This is a milestone for Bitcoin as it is also called digital gold. Unlike real currency, Bitcoin is exempted from all rules or government controls and it is very easy to use. It is used in many countries, including Canada, China and America. However, any person with access to internet in the world can buy this currency.

For transactions, the consumer must have a Bitcoin Wallet Account, which can be created by downloading Bitcoin Wallet Application. Bitcoin Wallet accounts can be used to buy Bitcoins via PayPal, credit card or bank accounts etc.

Hundreds of internet companies, including Microsoft; gaming sites such as Zenga; blog hosting websites such as Wordpress and online stores such as Reddit and overstock.com etc accept Bitcoins. Millions of Bitcoins are rotating around in the world at the moment.