Steemit Crypto Academy Season-4 Beginners Course - Task 5: Bitcoin, Cryptocurrency, Public Chains

Cryptocurrency is a digital currency that is based upon the database. Most of its sources are Decentralized Blockchains. Like Steemit we can earn Steem(A crypto coin) by work here. The most important thing for cryptocurrency is that it is not issued by any central authority.
We can not keep the cryptocurrency in our physical wallet but we can keep it in our online wallet on the computer, mobile, etc. anywhere and anytime. So it is a very useful currency. It has made significant strides in many aspects of our lives and made a good place for itself. By using it we can grow our business and avoid many other fees of transferring assets.
If we look at cryptocurrency, the first crypto coin was created in 2009. Whose name Bitcoin, So if we check it then we can estimate that It made a lot of progress in a few years. And as we look at the IT professional, how much it is progressing. It is important to work on cryptocurrency and have knowledge about it.

Cryptocurrencies are system which allows making a secure transaction online without any middle man and banking system in the term of virtual (digital) tokens. So there are some Cryptocurrencies which are given below;

There are more than 10000 cryptocurrencies that are present in the markets of different exchanges. These Crypto coins are creat for a different purpose and present at different blockchains. We can get these coins by work on these blockchains. Now I talk about the types of Cryptocurrencies.

• Bitcoin
• Altcoins
• Stablecoins

A) Bitcoin

When we talk bout cryptocurrency the first name that appears in our mind is "Bitcoin". Yes, it is the first crypto coin and today its price is higher than all the coins. It was created in 2009 by Satoshi Nakamoto. So it is really an effective cryptocurrency in the world of cryptocurrencies.

B) Altcoins

Altcoins are cryptocurrencies other than Bitcoin are called Altcoins. The short name "Altcoin" is derived from the alternative coins so the Altcoins are Alternative to Bitcoin. The first altcoin was created in 2011 and now there are thousands of altcoins present in the market. Altcoins are an important part of crypto Currencies so every trader should know how these coins work.

C) Stablecoins

Stable coins are a type of cryptocurrency linked to assets as the US dollar. USD, USDT, BUSD and SBD are the Stablecoins. Mostly stable coins were issued by the Government. These values do not change like the other crypto coins.
To see the picture in which the Stablecoins are given below.

Source

So now I talk about the Shitcoins. You can see the shitcoin in the following picture:

• Shit coins

As we can understand about the shitcoins, shit mean meaningless and worthless, so we can say that these coins are worthless and their price is also very low. They are not created for any specific mission and goal. But some are developed after some time.

Source

If we talk about some top cryptocurrencies then Bitcoin is present on the top and you can see it in the following picture.

In the above chart, we can easily see the top crypto coins on the coinmarketcap website.

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How You Would Like To See Cryptocurrency In The Future?

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Cryptocurrency is very volatile in the market. As I am a user of Binance the best marketplace for trading cryptocurrency. So I know about its importance in present and future. IN a few days the cryptocurrency make a progress and achieve very high status. In my opinion, cryptocurrency becomes more famous and reach a very high level in the future. In the future, it would be applied in our daily routine markets. For example when we want to buy anything from the store then we will give Cryptocurrency instead of fiat currency. So it would be a good and very impressive achievement of the cryptocurrency. In the future, it would be used for the money exchange and the alternative to different things. As the TESLA announced to sell their cars in BTC so we can understand that this process begun has and will continue to grow in the future. And many other companies have come out in support of TESLA and announced to sell the vehicle on Cryptocurrency.
In addition, it can be very useful for us. We can buy any coin at low rice and after some time we get a huge benefit from this. because if we look at the BTC, in 2009 the price f Bitcoin is lower than one dollar but now its price is almost $45700 dollars. We can invest a specific payment to make our future best.

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Conclusion

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I have read the whole lecture and am so passionate to learn about cryptocurrency. In this lecture, I have come to know about Bitcoin, Altcoins, and Shitcoins which are the main parts of the crypto market. In this lecture, we also come to know about the creation of Bitcoin, Altcoin, Shitcoins, and some other coins. In addition, I can predict this in the future at this seminary and I can also tell you what to do next. So it is totally a very informative and good lecture.

Special Thanks

@stream4u

Writer

@safdarsultan