Cryptocurrency is a fully digital, encrypted, virtual currency that can be used in exchange transactions. For some, it is the currency of the future.

Today, cryptocurrencies are a very unknown phenomenon that has been heard by many people and has attracted a lot of attention from everyone, from heads of state to giant companies. Cryptography is used to verify and securely perform swap transactions. It does not have any physical response.

The money actually spent and transferred with debit cards and credit cards are virtual currencies because only the system data changes as a result of these transactions. Crypto coins have the same logic principle. However, there is a decentralized system that is not managed by any authority or government, which makes it safer.

What is cryptology?
Cryptology is an encryption science. It is the encryption of the data according to a system. Crypto coins are transferred through the creation and decryption of passwords on the medium. Algorithms such as hash functions are used.

History of Crypto Coins
Many attempts have been made to create a digital currency since the 90s, the age of jumping technology. Systems such as Flooz, Beenz and DigiCash have been developed, but these attempts have yielded failed results for reasons such as fraud, financial difficulties, internal disputes. All these studies developed the idea of ​​a reliable, third-hand approach.

The first cryptocurrency, Bitcoin, was developed in early 2009 by the person or people who appeared under the code name Satoshi Nakamoto. Although it was said to have been developed by Satoshi Nakamato, it was shared as an open source software by the person (s) whose identity is unknown. This network runs on a conceptual platform similar to end-to-end encrypted file sharing platforms.

Security of cryptocurrencies
One of the most important problems with payment systems is the possibility of spending the same money twice. The traditional method used to prevent this is to put a central instrument (banks) that records the transactions. However, this method involves an authority that can control all capital. This reduces reliability.

However, for a decentralized, in other words, distributed network, like Bitcoin, every part of the system must approve. These transactions are done through blockchain, so every transaction is made visible to everyone.

All transfer transactions are made with the wallet addresses of the sender and receiver and the amount to be sent. The clearing or shipping process must be verified by the sender and then confirmed by the system. The validation process can only be done by miners by solving a cryptographic puzzle. If a transaction is approved, it cannot be returned. The biggest risks for cryptocurrencies are the possibility of hacking and attacking.

How is crypto money produced? What is cryptocurrency mining?
The production of crypto money is carried out through a distributed system just like themselves. So it is user based. Cryptocurrencies have a production limit, so as the amount of crypto money produced increases, transactions that need to be resolved to produce cryptocurrencies become more difficult.

The production process is through mining, even if there is no physical mining, operations based on solving math problems are carried out. In other words, if you have processor power and internet connection, you can undertake the mining duty without being assigned by someone.

Is crypto money legal?
The legality of cryptocurrencies varies from country to country. In some, while the state of legality is still uncertain or volatile, some countries openly allow its use and trade. Some countries banned or restricted the use of cryptocurrencies.

"Is Bitcoin legal?" Questions like are asked by many people. Currently the Republic of Turkey is not optimized laws or restrictions related to Bitcoin use by the government, possession of so Bitcoin or other crypto money in your wallet, you will not be punished due to receive from or sell is not possible.

Is mining legal?
Bitcoin or cryptocurrency mining is not a crime. There is no illegal situation.

Can your earnings from crypto money be taxed?
If regular money entry is detected in your account, tax may be charged on your earnings. If your earnings are questioned by Finance, you can indicate that you earned this income from crypto exchange or mining, and if necessary, you can verify these transactions using your account statements.

What are the advantages of cryptocurrencies?
Since it is not affiliated with any central bank, it is not affected by the economic situation of the countries.
It is not possible to freeze or confiscate the account.