Definition of Cryptocurrency What is Cryptocurrency

 Cryptocurrency, popularly known as crypto, is a virtual currency that is secured by the equations of cryptography.
 It is built in such a way that you can exchange it like any other currency, share it, exchange it, and every person who uses this currency will have a record of every single transaction on their computer.

 Right now the Government of India has also introduced the Regulation of Cryptocurrencies and the Official Digital Currency Bill 2021.

crypto

 Popular cryptocurrencies available online

 So now you have understood in simple language that cryptocurrency is a digital set that lives on a network of many computers and on the network, in the way where transactions take place, then all the computers get their data.

 The most special thing about crypto currency is that it is available only in a fixed number, you can not make cryptocurrency on your own or anyone's wish. Similarly, the ownership of cryptocurrency is not in the hands of a single person but in millions of crores, so it is possible to change the records.

 Before making a cryptocurrency, there are requirements, one is there is no centralizer in it and secondly the records in it are on the computers of millions of people without keeping any one person.

 Now there can be no fraud.

 History of Crypto Currency

 It is now well known who became the first cryptocurrency in history, which is bitcoin.

 Considering this is the most valuable and well-known coin used, a lot of new coins have appeared in the market in recent years.

 Bitcoin famous currency crypto

 Bitcoin was extracted in 2009 by a man whose name was Satoshi Naka Moto, but it was also his pseudonym i.e. a secret name.

 There are 19 million bitcoins in circulation as of today and they have a market cap of around half a 900 billion.

 When everyone came to know that the time of cryptocurrency is about to come, then many currencies came in the market, we know them all in today's time as altcoins.

 Means the alternate coin of bitcoin.

 Some of the important altcoins are

 ethereum coin

 cardana coin

 name coin

 peer coin

 light coin

 dogacoin Everyone knows it today because it was recently promoted by Elon Musk on Twitter.

 But even so far 60 percent of the market cap is still with bitcoin.

 , As it is well known that if there is no rain of excess, neither in excess of sunshine nor in excess, everything is not equal, there are some advantages and there are some disadvantages.

 Currency also has its advantages and disadvantages, so if we look at the disadvantages, first of all it can be used in money-laundering because no one has control over the transaction of this currency.

 Second, once the payment is made, it cannot be returned, what a big loss.

 Third, their circulation is not so much now, so it cannot run everywhere.

 Now you will go to your neighbor's brother and say brother, give half a kilo of milk and I am doing bitcoin transaction to you, then he will never agree.

 Another important thing is that bitcoins are made or their mining is done then you need a lot of energy. Huh.

 Crypto wallet

 If you look at the benefits, then the best thing is that you do not have to pay any charge for fund transfer as you give to banks or third parties in free time, give to credit card, give to debit card nothing do.

 You don't need to print any currency, everything will be done online.

 Thirdly, whenever you have to do online transactions, it is a cheap alternative, your payment remains safe and the biggest thing is that no one can track who has transferred funds to whom, from whom it has taken money.

 To bring transparency in the transaction, there are two types, one is private key and one is public key.

 Fund transfer is very minimal processing fee which is negligible.

 This was today's idea about crypto currency, how did you like our thoughts, definitely write your own view in the comment box below.