Contest Alert! The Crypto Quiz

I am here participate in this amazing contest hosting by @steemdoctor1, this contest is one of a kind in which every participants will be expected to share different opinion concerning this contest. Today I will discuss on the above topic which title: the crypto quiz.

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What do you understand about the word 'Cryptocurtency'?

Cryptocurrency is the digital asset that does not depend on any bank to perform transaction, cryptocurrency is usually done online where users or traders can trade on any cryptocurrency in different exchange.

Cryptocurrency can also be store in digital wallet so as to be to grow during the bull market. Trust wallet is one of the most popular wallet where traders can store their coins for a long period of time.

Crypto are mining with the use of computer power to solve some mathematic problem that produce coins. In today world we have more than 1000 cryptocurrency but the most popular among them is Bitcoin, Ethereum, Bnb, Ripple, Litecoin, Steem, Bond etc.

What new features are present in cryptocurrency which are not present in Fiat money?

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Cryptocurrency have a lot of benefit and the feature include the following:

• It is decentralized system that does not control by any authority, users have the access to his or her coins without involve third party.

• Cryptocurrency offer fastest transaction which enable a person from Nigeria to transfer the coins to another person in United kingdom.

• It does not exist in physical form and is usually based online unlike fiat money that is control by central bank.

• Also, cryptocurrency can be use to purchase some goods and pay for service at your own convenient time.

When was the first cryptocurrency launched and who was the master mind behind it?

The first decentralized cryptocurrency was launched in 2009 and the name of the coin is Bitcoin. this particular crypto is well known throughout the world where rich investor invest huge amount of money with the aim to earn good profit.

Bitcoin was developed by Satoshi Nakamoto, he was the master mind behind this successful technology up till now nobody does not known his identity.

El Salvador is the first country that accept Bitcoin as their legal tender in which every citizen can use Bitcoin to purchase some goods within and outside the country.

Conclusion

Many people around the world have make a lot of money when they put in their capital into any cryptocurrency of their choice, everyone believe that it is the future of digital asset where people understand how it work. I would like to invite @rossnenye, @emmy01, @vickyson and @bossj23 to share more insight.

Best regards
@akareen