Tag: cryptocoins

What is crypto currency ?

Cryptocurrency is the most trending topic nowadays and the industry is also booming very much in this digital era. You must have listened about this everyone has different opinion and conception about it, now the questions arise what is crypto and why it’s so trending cryptocurrency is a digital currency or virtual currency which doesn’t exist in physical form or hard cash and is typically not issued by a government or any central authority. It is based on a blockchain system that works as a public financial transaction database.

The first decentralised cryptocurrency was bitcoin
and it came into existence in 2009, when the bitcoin became popular than many other cryptocurrencies like ethereum, litecoin, stellar and the most heated dogecoin. since cryptocurrency came into existence it’s been facing legality issues and every country has its way of dealing with cryptocurrency. Many countries have allowed their use and trade without any legal issues and while other countries have banned or restricted this kind of activity. Cryptocurrencies face criticism for many reasons which include the usage of crypto in illegal activities like its the main source of money transfer in the dark web and other illegal hacking activities. They are also praised by many for their inflation resistance, transparency and it’s becoming a great mode of investment nowadays. People have not started using it as a currency but buying it for investment which has resulted in the inflation of bitcoin and other cryptocurrencies. The most popular cryptocurrency is bitcoin which was created in January 2009 it was the first cryptocurrency or the first decentralized currency.

Recently, El Salvador became the first country to accept bitcoin as everyday currency in June 2021. In El Salvador, you can buy anything with bitcoins just like normal hard cash. Many countries have banned this mode of transaction and many have restricted its use. Countries like Algeria, Bolivia, Egypt, Iraq, Morocco, Nepal, Pakistan, and the United Arab Emirates have already banned this mode of transaction completely and countries like Bahrain, Bangladesh, China, Colombia, the Dominican Republic, Indonesia, Iran, Kuwait, Lesotho, Lithuania, Macau, Oman, Qatar, Saudi Arabia and Taiwan have allowed this kind of activity with some restrictions on it.

India has not officially announced anything about its legality but till now it’s legal to trade in cryptocurrency, now and then rumours have been spread that India is going to ban it or not but any official authorisation has not given any statement about it. If you are an Indian citizen or living in India so it is completely legal to trade in it but there’s no regulation on crypto till now, which means you are free to invest or trade in cryptocurrency but it is not regulated by any government authority to protect your money.

cryptocurrency

What is cryptocurrency – the cryptocurrency is the digital assets based on a network that is the distributed across a large number of computers. This decentralization structure allows them to exists outside the control of government and central authorities. A cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. Their are market ranking, and more. which in one of the-

1. Bitcoin is the crypto business take off the industries till waiting for regulation. Bitcoin rises during pandemic situation of 14% to performing assets of 2020 again.

The internet, when it rose to global consciousness and became an over get in amount of harbinger and industry, created enormous value in disrupting existing practices and building chapter, more accurate and efficient systems, Its advent promised much in term of decentralization and democratizing access to information, value service. It promised to remove barrier and middlemen, vastly reduce operational and logistic costs in so many ways.

In this article, i will explain the three main types of coins in cryptocurrency are the Bitcoin, Altcoins and Tokens. By the end of this guide and as well the before going to learning about the type of cryptocurrency. it’s important to understand what cryptocurrency is If you already feel too.

BITCOIN ECONOMY WORK – The bitcoin generate by the users transfer. The latest disruption, blockchain, and with it, the rise of cryptocurrencies show the way to the next stage , by creating decentralization computer or etc application.

2. RIPPLE(XRP) – Ripple was released in 2012 that acts as both cryptocurrency and digital payment network for financial transaction. It is a global set network that is designed to create a fast as well secure also.

3. LITECOIN – light coin was launched by 2011 as alternatively bitcoin. like other cryptocurrency litecoin is open source payment network that is completely not center authorities.

4. Ethereum – this is created by the in the 2015. Ethereum cryptocurrency that is an a open source based on a blockchain technology while tracking ownership of a digital currency transaction, the blockchain are also focus on the running by the programming codes on any decentralization applications.

5. Zcash – this was a digital currency and that was a build on the original bitcoin code and it was build a decentralization blockchain. A core chain feature and different of zcash is an emphasis on privacy. While not a function available to investors on equity Trusts. Zcash without the closing the sender, receiver the amount.

6. Stellar Lumen – steller lumen as an intermediate currency that was facilitates currency exchange. stellar a user allow a user send any currency they own to someone in different currency. Jed McCaleb founded the open source network steller creat the network native currency in 2014.

There was a time when you could the number and types of cryptocurrency on one hand. The today’s are their was no possible longer. The cryptocurrency market has grown, grown some more.

The available of over the internet of 19 August over by the $550 billion of the value wiped off cryptocurrency since their record just changes that’s why the cryptocurrency is used by more applications.