Cryptocurrencies

Cryptocurrency is for common people.


Ever since you heard the word "Block-chain", definitely u might hear a word called cryptocurrency or digital currency or virtual currency or at-least you might be heard about Bitcoin. 

Yes, I am talking about that only. 

Now you may wonder what is cryptocurrency why this word "bitcoin" buzzing more on the internet especially in social media and in blogs. Yes, because cryptocurrency is a future. 

Why because cryptocurrency is common for any people. The normal currency we are using now is always restricted and owned by some organization called government. That means whatever money you have in hand or in the bank are traceable and it's completely centralized. 

So from wherever you want to send or receive the money you have to rely on centralized systems like a bank or any third party like money transfer. By doing this there will be some restrictions as well as huge transactions fee also.

To overcome this issue mainly, some anonymous person or group called Satoshi Nakamoto invented a first-ever cryptocurrency called bitcoin in the year Jan 2009. 

At the time of cryptocurrency called bitcoin arrived, people thought its a scam, and no one had a belief in cryptocurrency at all. Years have gone and technologies changed and techy people's started to believe in technology called a blockchain. And then cryptocurrency became trustable source because it's completely blockchain-based. 

At first, when bitcoin was launched it has no value and it was below some cents in USD. Once it evolved around the world to the techy, its value got increased enormously than anyone thought. from some cents in USD to it became almost 20000 USD at one stage. 

However, right now in the cryptocurrency market, more than 6000 cryptocurrencies are there. But still, bitcoin is the godfather for all cryptocurrencies. So except bitcoin other cryptocurrencies like etherem, ripple, tether, stellar, Tron, Binance abbc, etc called altcoins.

So now u have a question in mind like okay now I know about cryptocurrency but how do I buy this or how to know about all cryptocurrencies? am I right!

Its made so easy. Like how for normal currencies like USD INR AED have banks same as for cryptocurrencies there is an exchange called cryptocurrency exchanges. 

By registering and depositing your fiat money into any crypto exchanges, you are eligible to buy cryptocurrency. 

Like a bank account atm card and pin for cryptocurrency, there are two things important is called a private key and public key. A public key is like an account number and the private key is like a pin number or net banking password. 

If you want to send or receive u need a public key. Like you don't share the pin number or password you should not share private key as well. If anyone knows your private key with a public key they can easily rob all your cryptocurrency.

Now one more question will arise on your mind? Where to keep this cryptocurrency since its a virtual currency.
So-called crypto wallet. The Crypto Wallet is like a normal wallet like you have currency notes in it.

Conclusion.

Now you know about cryptocurrency and as well as the technology behind this. If you still want a more in-depth article about cryptocurrency give your request on comments that will write for you.

 

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vijay4crypto
vijay4crypto

A crypto Marketer and Digital Marketing Specialist


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