What is cryptocurrency?

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If you are searching for an article to explain cryptocurrency in and out then this article is for you. Now as a start, what is cryptocurrency? Cryptocurrency works just as normal money where you can buy things but this is digital money. Just like normal money,  cryptocurrency involves investment and profits. You can purchase the cryptocurrency with the normal money in your account and save it in the wallet designated for storing cryptocurrency. Now, before getting into further topics you need to know certain terms in the cryptocurrency business especially if you are a beginner.

Glossary

  • Altcoins – In short, altcoins are other coins that are not Bitcoins. Bitcoins are the first cryptocurrency in cryptocurrency history. Hence, anything than bitcoins is called altcoins or alternative coins
  • Blockchain – Blockchain is the security system of the cryptocurrency business. It is very important as it functions as the system that stores the information or the data that is related to cryptocurrency. It will secure it for further usage. 
  • Ledger – Ledger will keep all the records in the cryptocurrency system. It will save all the money transactions that are happening in the cryptocurrency business. These records will be helpful in the future to check the history of the transactions. 
  • Liquidity – Liquidity is the term that refers to the process of how simply cryptocurrency can be bought without any hassle at the cryptocurrency market price. 

 

These are some basic glossaries of cryptocurrency. However, there are more terms you can learn by experience in the cryptocurrency business. You can learn more about cryptocurrency in the crypto news today

As someone who is interested in cryptocurrency, you need to know that there are many types of cryptocurrency in the market that you can choose to invest in. As mentioned, bitcoin is the first cryptocurrency created in the market, and other than that there are many alternative coins you can learn about in this article.

 

Types of cryptocurrency

Ethereum – Ethereum is preferred by many people in the cryptocurrency market as it is known to be managed without any scams or any problems from the middle person. It is a decentralized cryptocurrency that allows everyone to get access to them regardless of where they are from and who they are. 

 

Cardano – Cardano is one of the cryptocurrencies that is created by engineers in order to study them. There is always a comparison between Ethereum and Cardano in the market. There are also some facts in the market that Cardano world is better in terms of blockchains in the market compare to Ethereum. 

 

Bitcoin Cash –Bitcoin cash is created to functions as a cash system that works electronically. The bitcoin can hold the limit of up to 1 megabyte. This altcoin is created as a result of disagreements with the creators of the cryptocurrency. 

 

Litecoin –Litecoin is a cryptocurrency that works exactly like Bitcoins. It is also not controlled by any middle person and is free to use by anyone who wants to use it regardless of their nationality. 

 

There are many things you can learn about cryptocurrency by asking some experts or researching about it.