Hello Dear Fellows. Hope so you are doing okay.
This introduction explains the most important thing about cryptocurrencies. After you‘ve read it, you‘ll know more about it than most other humans.

Today cryptocurrencies have become a global phenomenon known to most people. While still somehow geeky and not understood by most people, banks, governments and many companies are aware of its importance.

In 2016, you‘ll have a hard time finding a major bank, a big accounting firm, a prominent software company or a government that did not research cryptocurrencies, publish a paper about it or start a so-called blockchain-project.

What is cryptocurrency and how cryptocurrencies emerged as a side product of digital cash?

Few people know, but cryptocurrencies emerged as a side product of another invention. Satoshi Nakamoto, the unknown inventor of Bitcoin, the first and still most important cryptocurrency, never intended to invent a currency.

His goal was to invent something; many people failed to create before digital cash.

After seeing all the centralized attempts fail, Satoshi tried to build a digital cash system without a central entity. Like a Peer-to-Peer network for file sharing.

What are cryptocurrencies really?

If you take away all the noise around cryptocurrencies and reduce it to a simple definition, you find it to be just limited entries in a database no one can change without fulfilling specific conditions. This may seem ordinary, but, believe it or not: this is exactly how you can define a currency.

Types of Crypto CUrrencies:

There are bascially two types of crypto currencies:

Centralized:

Centralized cryptocurrency is controlled by some government or any COMPANY.IT has value only in specific area under company or government boundary.for instance if you go any mart for shopping,mart gives you reward point against your shopping.you collect these points and use these points for shopping.These points are not your currency but work as a currency.These points are also called centralized cryptocurrencies because you can use these points only in mart.These points have no value out side of mart anywhere.

Decentralized:

Bitcoin is decentralized cryptocurrencies. Decentralized cryptocurrency has no connection with any state,government.

Uses and Importance of CryptoCurrency

3.) Fast and global: Transaction are propagated nearly instantly in the network and are confirmed in a couple of minutes. Since they happen in a global network of computers they are completely indifferent of your physical location. It doesn‘t matter if I send Bitcoin to my neighbour or to someone on the other side of the world.

4.) Secure: Cryptocurrency funds are locked in a public key cryptography system. Only the owner of the private key can send cryptocurrency. Strong cryptography and the magic of big numbers makes it impossible to break this scheme. A Bitcoin address is more secure than Fort Knox.

5.) Permissionless: You don‘t have to ask anybody to use cryptocurrency. It‘s just a software that everybody can download for free. After you installed it, you can receive and send Bitcoins or other cryptocurrencies. No one can prevent you. There is no gatekeeper.

Ways to Select the Best crypto Currency FOr investment:

1) Checking the project:

Always visit the website and see what technology they are offering. The more stronger the project is the stronger is the cryptocurrency.
FOr example, Neo which is also called as the China's biggest crypto currency is a non-profit community-based blockchain project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a "smart economy" with a distributed network.

2) Checking the team behind it:

Whenever u visit a crypto website always check the team behind the currency. If they are not transparent then your investment is not secure.
Like this they are trnsparent:

3) Hyped Crypto Currencies:

THe project shouldnt be hyped up. Like Digbyte. it went from 300 sats to 2000 sats too much hyped and those that invested in dgb at 2000 sats are still stuck in it for over 8 months.
Same as for Ripple which is used by banks.

So, now I think u learnt a lot about Crypto CUrrencies. DOnt forgete to follow, upvote and comment. See ya in the next post.

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