#CRYPTOCURRENCY.
Cryptocurrency is also known as crypto is a digital asset, a digital currency, a medium of exchange. In crypto, coins are owned by an individual(s) and it's stored, and records of transactions and increases in the coin are in a computerized database that is secured using strong cryptography ( a good algorithm/encryptions that requires protocols and implementations).
Cryptocurrencies work using a technology called BLOCKCHAIN. Blockchain is a decentralized technology spread across many computers that manage and record transactions. Part of the appeal of this technology is its security. Take note of this, cryptocurrencies let you buy goods and services, or trade them for profit.
According to CoinMarketCap.com, a market research website, there are more than 6,700 different cryptocurrencies, here are the ten(10)largest trading cryptocurrencies;
- Bitcoin
- Ethereum
- Binance coin
- XRP
- Tether
- Cardano
- Polkadot
- Uniswap
- Litecoin
- Stellar.
I know you ask yourself just as I ask myself previous times,
WHY IS CRYPTOCURRENCY POPULAR?
Below are the reasons;
Supporters see cryptocurrencies such as Bitcoin as the currency of the future and are racing to buy them now, presumably before they become more valuable.
Some like the fact that cryptocurrency is a decentralized technology that removes Central Banks from managing the money supply since over time these banks tend to reduce the value of money via inflation.
Others like the technology behind the cryptocurrencies, the blockchain because it's a decentralized processing and recording system and can be more secure than traditional payment systems.
Some speculators like crypto because they are going up and have no interest in the currencies' long term acceptance as a way to move money.
Hey! Am not done with you yet, wait for it.
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