What is Cryptocurrency Explained

What is cryptocurrency

Cryptocurrency is the known as the digital currency or decentralized form of currency that can be either payments or investment. The digital currency means that it is not the form of physical money you cannot see or touch rather it is type of include digital form what is generally stored in millions of computers all round the world.

Coming to mean decentralization is a form of blockchain, it is not controlled or maintained by any authority banks or government. There is not any single authority that can control price hikes and trends of it. So simple words users all over the world set the price and trends of cryptocurrency.

Who created it and why?

The first ever cryptocurrency Bitcoin was created and launched in 2009 by a developer named ‘Satoshi Nakamoto’. They allow users to send and receive transactions in seconds. The more behind the creation it allows all the users must be independent to transact money to anyone they want. They just need to keep on their device with touch, select the address and send the asset just in seconds without really on any bank or government.

You can consider crypto as a special code that is saved in your smartphone or personal computer. If you want to pay anyone you can simply send it by your smartphone that is gone to be easily sent.

Advantage

There have phenomenal advantages of cryptocurrency. There are limited ways that we can use cryptocurrency. You can use crypto as transactions at bullet speed with the lowest transaction fees. It allows us to send payments without any active process of the bank steps don’t have to be dependent on banks.

Others then you can hold cryptocurrency for sometimes, its price may increase, and sell them at a time to make a profit. There have numerous benefits if you choose crypto instead of fiat currency. Fiat currency means any form of currency other than digital currency, physical currency, and many dollars to be used it consider as fiat currency. We all know the fiat currency is controlled by the government which means we mostly rely on the government to save their value.

In the cryptocurrency get the decentralized options where you can set the value of the digital currency. Even you can pay anything with crypto like normal cash. More of the brands of the world accept the crypto payment method. So you can pay them crypto as a payment method to purchase anything on any side of the world.

Even Tesla has already started to accept bitcoin to sell their electronic vehicles. You cannot send a fee of currency as speed like cryptocurrency payment method. The transaction of money through the bank is also decreased to a minimum in this method. Cryptocurrency allows you to own a bus to send money to anyone.

Where to buy cryptocurrency

There are many cryptocurrency exchanges in the form of apps and software. They allow you to buy, sell and hold cryptocurrency. You just need to create an account on any Crypto exchange and transfer some funds from your bank account to your exchange account then start buying cryptocurrency. We recommend some exchange is

1. Binance
2. KuCoin

You can able to use a cryptocurrency wallet to make transactions very easily without losing any assets like

1. Trust wallet
2. Bitkeep
3. KuCoin wallet