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How Cryptocurrency Works: Bitcoin, Ethereum And Nft's - Business - Nairaland

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How Cryptocurrency Works: Bitcoin, Ethereum And Nft's by shakiez893(m): 7:21pm On Feb 07, 2022
Bitcoin, Ethereum, Dodgecoin or NFTs people are always talking about cryptocurrency but what do I know about it?

Now let me take you from a crypto novice to a crypto genius.

Back then it was called trade by barter were people exchange a cow for a horse.

But government introduced currencies like coins and paper money because they were made of precious materials like silver and gold then everybody just accepted them because they were precious and accepted by government.

Cryptocurrency: is a digital e-currency used conveniently as a mode of exchange during this present day. It is called cryptocurrency is because they're protected by the security system called CRYPTOGRAPHY.

Characteristics and Importance of Cryptocurrency.

1. Cryptocurrency is 100% VIRTUAL and as a owner, you can just make a transfer of the digital asset to another person.

2. The one distinctive advantage of cryptocurrency is that, it is DECENTRALIZED which means that each and every transaction of that given cryptocurrency is recorded on the same ledger and all users under the network have a copy of the ledger.

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5. Before you invest in cryptocurrency, understand it's risk because it values can go up and down at anytime which is called "VOLATILITY"


Read more: https://aozforum.com/post/3651

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