What is Cryptocurrency? [Everything You Need To Know!]

  • 1.Cryptocurrency is an internet-based medium of exchange which uses cryptographical functions to conduct financial transactions. Cryptocurrencies leverage blockchain technology to gain decentralization and transparency
  • 2.The most important feature of acryptocurrency is that itis not controlled by anycentral authoritythe decentralized nature of theblockchain makes cryptocurrencies theoretically immune tothe oldways of government control
  • 3.Cryptocurrencies can be sent directly between two parties via the use of private and public keys.These transfers can be done with minimal processing fees, allowing users to avoidthe steepfees charged by traditional FI.
  • Today cryptocurrencies (Buy Crypto) have become a global phenomenon known to most people
  • Nowadays, you‘ll have a hard time finding a major bank, a big accounting firm, a prominent software company or a government that did not research cryptocurrencies, publish a paper about it or start a so-called blockchain
  • But beyond the noise and the press releases the overwhelming majority of people – even bankers, consultants, scientists, and developers – have very limited knowledge about cryptocurrencies.
  • They often fail to even understand the basic concepts

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