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Cryptocurrency

 


Aware of Cryptocurrency:



A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on block chain technology.A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.To buy cryptocurrencies, you’ll need a “wallet,” an online app that can hold your currency. Generally, you create an account on an exchange, and then you can transfer real money to buy cryptocurrencies such as Bitcoin or Ethereum. Some cryptocurrencies, including Bitcoin, are available for purchase with U.S. dollars, others require that you pay with bitcoins or another cryptocurrency. 


Some Improtant keypoints :

1.A cryptocurrency is a form of digital asset based on a network that is distributed across a large number of computers. This decentralized structure allows them to exist outside the control of governments and central authorities.
2.cryptocurrency is derived from the encryption techniques which are used to secure the network.
3. Block chains means which are organizational methods for ensuring the integrity of transaction data & are an essential component of many cryptocurrencies.
4.Some of experts believe that block chain and there related technology will  disrupt many industries & also including finance and law. 
5.Cryptocurrencies face criticism for a number of reasons, including their use for illegal activities, exchange rate volatility, and vulnerabilities of the infrastructure underlying them. However, they also have been praised for their portability, divisibility, inflation resistance, and transparency.
6.More than 10,000 different cryptocurrencies are traded publicly according to  market research.
7.cryptocurrencies continue to proliferate, raising money through initial coin offerings, or ICOs. 
8.The total value of all cryptocurrencies on May 27, 2021, was more than $1.7 trillion according to market research.
9.Some of Popular cryptocurrencies are Bitcoin,Ethereum,Tether, Binance Coin,XRP,USD coin ,Cardano,Dogecoin,Polkadot .
10.There’s no question that they are legal in the United States, though China has essentially banned their use and ultimately whether they are legal depends on each individual country. 

Popularity behind cryptocurrency:

=>Investors see cryptocurrencies such as Bitcoin as the currency of the future and are racing to buy them now, presumably before they become more valuable.
=>Many Investors like the fact that cryptocurrency removes central banks from managing the money supply, since over time these banks tend to reduce the value of money via inflation.
=>Some of Investors like the technology behind cryptocurrencies, the block chain, because it’s a decentralized processing and recording system and can be more secure than traditional payment systems.
=>speculators , many of them like cryptocurrencies because they’re going up in value and have no interest in the currencies’ long-term acceptance as a way to move money.



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