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What is Cryptocurrency?

A cryptocurrency is a digital, encrypted, and decentralized medium of exchange.

Cryptocurrency does not exist in physical form (like paper money) and is typically not issued by a central authority. . Instead, these tasks are broadly distributed among a cryptocurrency’s users via the internet.

Cryptocurrency is used to buy goods and services all around the world. But is not yet mainstream in most country’s. Most people invest in cryptocurrencies as they would in other assets, like stocks or gold. With the purpose of move against the inflation and make some extra profir along the way. Cryptocurrency is an exciting asset class, Before purchasing you should always the research on how to understand the cryptocurrency systems and how to make profit. Purchasing be risky.

Individual coin ownership records are stored in a hardware wallet or digital wallet. which uses the database on the blockchain using secure transactions. Despite their name, cryptocurrencies are not considered to be currencies in the traditional sense.

Bitcoin was the first cryptocurrency to launch in 2009, Which had an open source code. You can track the chart of Bitcoin down here.

Top 5 cryptocurrency

1. bitcoin

Bitcoin is an open source project maintained by a developer team with over 580 active contributors. The code of the chain is available on Github. The main purpose of Bitcoin was decentralized but trusted, low fee money transactions between people and businesses around the world. Nowadays over 100.000 vendors accept Bitcoin for payments. 

2.Etherum

Ethereum is a decentralized operating system. The platform introduced, in practice, the concept of “decentralized applications”. Its founder, Vitalik Buterin, has been engaged in the development of blockchain and Bitcoin since its inception. 

3.Ripple (XRP)

Ripple is a blockchain-based digital payment network and protocol with its own cryptocurrency, XRP. Rather than use blockchain mining, Ripple uses a consensus mechanism, via a group of bank-owned servers, to confirm transactions.

4. Binance

Binance is an online exchange where users can trade cryptocurrencies. It supports most commonly traded cryptocurrencies. Binance provides a crypto wallet for traders to store their electronic funds. The exchange also has supporting services for users to earn interest or transact using cryptocurrencies.

5. Cardano (ADA)

ADA is a crypto coin running on Cardano Settlement Layer (CSL) blockchain, the first and most secure blockchain based on Proof of stake mechanism validating the transactions. Cardano team calls their proof of stake mechanism Ouroboros. Unlike Proof of Work, where miners invest energy intensive computing power to mine each block, proof of stake chooses a random miner based on the size of the stake (value).

How to buy crypto or any other cryptocurrency

To buy bitcoin (BTC) or any other cryptocurrency you have to go to an cryptocurrency exchange. Here are a few exchanges where you can exchange Fiat for cryptocurrency.

  • Binance
  • gate.io
  • Coinbase
  • crypto.com
  • Kucoin

Click on the name above for a dicrect link tot he offical website. For a full and complete guide about how to buy cryptocurrenty check our How to buy Cryptocurrency page.

Cryptocurrencies: 13,090
Markets: 538
Marketcap: $ 1.13 T(2.64%)
24h Vol: $ 87.63 B
BTC Dominance: 38.82%