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Last updated on May 02nd, 2022
What is Cryptocurrency?
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9 months ago
A cryptocurrency is an online form of currency that is a chain of transaction blocks. Each block in the chain keeps the transaction history of the previous block making tracking easier, so making the currency a secure currency. Currencies like bitcoin and ethereum are all cryptocurrencies.
A cryptocurrency can be stored in wallets and ledgers which are digital or in form of pen drives.
9 months ago
It is a type of digital asset, for which cryptography is used. It is generally used to buy goods and services. It originated with bitcoin. It acts as a "peer to peer electronic" cash system. It can be used with the help of internet. With its help, money can be kept hidden very easily. There is no need to go to any bank or other government institution for its use. Therefore, with the help of cryptocurrencies, your money can be easily kept hidden.
Cryptocurrency is a type of digital payment, in which the payment method is done completely in electronic form. These currencies, called cyber cash, are discussed all over the world. Cryptocurrencies can also be called virtual currency or digital currency.
The notes and coins that are in circulation for transactions in any country are called currency. Currency is either of paper or of some metal. Like rupee notes and coins run in India. Recently, there is talk of virtual currency. Bitcoin, Namecoin, Litecoin, Libra and PPCoin, among many others. Such virtual currency is called cryptocurrency.
4 months ago
A cryptocurrency is a digital or virtual currency. It is secured by cryptography that makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology. That is 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.