What is cryptocurrency?
Cryptocurrency is called a digital end to end encrypted secure untraceable computer generated money or asset that you can mine or produce yourself, sell it, lend it for profit or you can buy anything using cryptocurrency.
Significantly, to use the cryptocurrency, you need to have a wallet service like ‘Coin Base.’ There are many types of cryptocurrency, some of them are Bitcoin, Ripple, EOS, NEO, etc. As you want to buy or sell your cryptocurrency, you need to use the specific wallet you have for placing the order. Furthermore, because it’s not a centralized cash rolling system, and no government has no authority over it, so it's highly risky and likewise profitable. Some countries accepted the cryptocurrency system and added some atm vending systems for cash out your cryptocurrency, but major portions are against cryptocurrency. So, you need to check the state policy before start using it.
Additionally, Due to its illegal and securely untraceable nature, it’s used on the deep web as for cash. If you want to buy something from deep-web, you have to use cryptocurrency.
Meanwhile, if you want to create or produce cryptocurrency, you have to use a Cryptocurrency mining method to produce Cryptocurrency. That will be done by Cryptocurrency mining rigs or a simple high-end computer with enough computing power and time.
Though Cryptocurrency is not accepted by any authorities for obvious reasons but seems like the future of currency is Cryptocurrency in this digital world. Uniquely, you can start investing in Cryptocurrency for having more sudden profit or loss respectively.
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Nice article for introduction to crypto. Obviously cryptos are the future and sooner or later it is going to replace fiat currencies. The pace at which it has been adopted by mass within a decade , there is absolutely no doubt that it is going to be the only choice for the medium of exchange in very near future. Of course all the governments will definitely take their time to realize its potential which is far more useful than the risks involved. Already many country Governments have taken steps towards block chain technology even keeping a side the cryptocurrency factor. But without the use of reward giving system to miners of certain block chain the technology can't be expected to flourish. It will be very limited and within a closed environment always. According to me even the most conservative approach towards crypto will also realize within a few years that crypto currency system in fact a reward giving system is the soul of block chain without which the entire system will be cripple . Hence most part of the world even some greatest economists and technologists will take time to foresee the actual fact and the enormous potential of crypto. But the golden era have started from the first step taken by Satoshi Nakamoto ... only the world is waiting for the time for a complete adoption.