Cryptocurrency: All You Need To know

Cryptocurrency is any kind of money that exists digitally or virtually and uses encryption to safeguard transactions. It is also referred to as crypto.

Coins are bought with actual money thereby serving as a means of investment instead of moving around with money or keeping them in banks where charges ruin the actual amount. Coins are bought and stored until their values are appreciated then would eventually be sold at a gain. Although there are instances where the coins depreciate and one is forced to sell at a loss.This is a two-edge of a sword thing.

Cryptocurrencies are also used to buy things, you can use it to pay bills. This holds a very huge advantage because your coins can never be stolen or hacked, It is decentralized, every transaction of the cryptocurrency is being recorded is one ledger with everyone in that network having a copy of it. To hack it, one needs to tamper with every data in that blockchain which is very impossible.

Click HERE to read more