Crypto/technology : What Cryptocurrency is about

Hello friends from home and abroad, warm regards to everyone, thank God it's Wednesday (TGIW) and it's a pleasure to welcome you all to my post. Today I'll be writing on What Cryptocurrency is about as it is Wednesday today.

Almost everyone is us here has vast knowledge about cryptocurrency which I believe is not a new topic again. However, in this post, I have discussed cryptocurrency in my understanding.

What Is Cryptocurrency?

Cryptocurrency is online money that is secured by cryptography, which makes cryptocurrency difficult to become overspend. Cryptocurrency is also known as a digital asset that can be bought and sold in a crypto exchange like Binance and other crypto wallets.

Many of the cryptocurrency exchanges are decentralized ones whereas some are centralized ones. A decentralized crypto exchange has limited features and it is more secure than a centralized exchange that has more features.

One good thing about cryptocurrency is that it is not controlled by the government or a central authority. It is controlled by the people that invest in it for example people like you and I that buy and sell cryptos.

Cryptocurrency can not be fully discussed without mentioning Blockchain technology. Blockchain technology is a digital ledger that is made open for everyone to see. The blockchain contains blocks of transactions and stores them for every interested user to see. Blockchain technology is what gives rise to cryptocurrency. Back to cryptocurrency isn't backed by the government, not a central authority.

How to get Cryptocurrency

Cry to currencies can either be mined or purchased from crypto exchange using our local currency or trading one crypto for another. Mining of cryptocurrency is the process of solving mathematical equations by miners. Also, it is not all cryptocurrencies that can be mined. Also, cryptocurrency can be rewarded to people through airdrop at the time the crypto project is about to be launched.

Types of Cryptocurrencies

Today there are thousands of cryptocurrencies in the crypto market of which one need to conduct research very well before investing as some crypto project out out to cheat investors. However, despite the numbers. Of cryptocurrencies, then we have below some of the most well-known cryptocurrencies

• BITCOIN (BTC)
• ETHEREUM (ETH)
• BINANCE COIN (BNB)
• DFI. MONEY
• STEEM
• LITECOIN
• BITCOIN CASH
• TRON (TRX)
• USDT
• SOLONA and many others which you can see from the screenshot image above.

Conclusion

Cryptocurrency is now seen as the new form of money and wealth by millions of people most especially youths. It is good one know about cryptocurrencies at his early stage of life and I am happy I am aware of cryptocurrency. I will continue this topic next week.