What is cryptocurrency? How does it works? Some more things you should know about Cryptocurrency

 

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In this fast moving world, currency has also taken a new form which we call crypto currency such as bitcoin, litecoin, dogecoin etc. But, what is cryptocurrency, how to use it and what are its benefits. You are going to know such questions in this article.

Cryptocurrency is a digital currency that has been introduced since 2009. Bitcoin is the first cryptocurrency in the world and it is still very popular.When bitcoin first appeared its value was less than $0.01 and now its value is more than $40,000 Because no country government can control bitcoin, it is done through blockchain technology.

So what is Blockchain Technology?

In Blockchain technology, many computers are interconnected, due to which cryptocurrency transactions are easy.And no one can track, hack, the transaction. Due to this technology, crypto transactions have become possible.

To get cryptocurrency, you have to either invest in it or you can also mine it.

There is a separate wallet for cryptocurrency, so that you can do transactions from one bitcoin address to another bitcoin address.Each cryptocurrency has a different type of address, which makes the transaction easy. The cryptocurrency address is on the wallet containing the crypto.

There is risk and safety in cryptocurrency because the value of cryptocurrency fluctuates greatly.Just look at the value of bitcoin, first it is not even equal to 1 cent, but now see where it is, it is more than 40000 dollars.The value of bitcoin can increase and decrease at any time so, there is risk but also profit for investing in cryptocurrency.

You can also earn crypto currency, through many websites that give cryptocurrency rewards .

Many big companies started accepting cryptocurrency nowadays such as Tesla, Microsoft, PayPal, Starbucks etc.And nowadays there are cryptos payments on many sites, such as  the Bitrefill site, you can shop with cryptocurrency and it runs in all the countries.With this you can buy all company's gift cards that too from bitcoin.

Cryptocurrency has changed our lives. Now all the big things have become easy. That's all for today, see you in the next post, till then tell in the comment which currency do you like most.