What is CryptoCurrency?
- What is Cryptocurrency?
- How Does CryptoCurrency Work?
- How Are The Cryptocurrencies Value Determined?
- What Can Cryptocurrency Be Used For?
- Why Buy Cryptocurrency?
- Why CryptoCurrency Investment
- What Do Crypto Currency Miners Are Doing?
- What are Bitcoins? Introduction to Bitcoins
- The Bitcoin Basics
- How to to Buy Bitcoins?
- Where to Buy & Spend Bitcoins?
- What is Bitcoin Wallet or eWallet
- Devices to Store your eWallets
- What is A Bitcoin Investment?
- Should I Invest in Bitcoin?
- How to Send & Receive Money with Bitcoin?
- How to Trade Bitcoins at Exchanges
- There is A Limit to Bitcoin
- What is Bitcoin Mining?
- Keeping Up with the Latest Bitcoin News
- Who is Satoshi Nakamoto?
To make it simple, cryptocurrency is a digital version of money where the transactions are done online. A cryptocurrency is a medium of exchange just like your normal everyday currency such as the USD, but designed for the purpose of exchanging digital information through a process known as cryptography.
The first ever-successful cryptocurrency emerged from the invention of Bitcoin, by Satoshi Nakamoto.
This was then followed by the birth of other types of crytocurrencies competing against Bitcoin.
A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies are a kind of alternative currency and digital currency (of which virtual currency is a subset). Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems.
The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database. – Wikipedia
Every cryptocurrency is a little different, but most of them share these basic characteristics. They are:
After you send a cryptocurrency and the network has confirmed it, you can’t retrieve it. Cryptocurrencies are one way, no chargebacks.
They’re anonymous. Anyone can open a wallet, no ID required, and have varying stages of anonymity depending on which token you utilize.
FAST & GLOBALLY ACCESSIBLE
They’re fast and globally accessible. Entries are broadcast across the network immediately and are confirmed in a couple of minutes.
BUILT TO BE SECURE
They’re built to be very secure. Cryptocurrencies use the latest cryptographic techniques, but they’re in early development.
They have a controlled supply limited by the network.