How are you? By Allah's grace, I'm doing very well. So what I will discuss today is cryptocurrency.

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Cryptocurrency is a currency that cannot be held or touched. This cryptocurrency does not actually exist. Still, the biggest reason why people are so interested in it is that it can work in a decentralized manner. For those of you who don't know about decentralization, decentralization is a type of technology that doesn't involve any third party. And the reason why the decentralized system is very popular for money transactions is that it has less suffering and information security. What happens in the centralized system, we have to give a lot of confidential information to the bank and complete a lot of formalities to send money from one place to another. This is a waste of time as well as suffering. The currency we currently use is paper currency. We have seen a tradition of transactions since the birth of the world. But then there was no such thing as currency. Then one thing was exchanged for another thing like this. Then comes gold coins. But what is currently in use is paper currency. During the era of gold coins, many problems had to be faced in transferring gold coins from one place to another. Because we all know the heavy weight of gold which makes it very difficult to carry gold. Then being a coin it would have been more likely to be lost. Then came the paper currency we use today.

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While there is no such problem with paper currency, one problem becomes very complicated, that is the transfer of money from one place to another. Besides, there are theft, robbery and lost problems. So the bank is ahead to solve this problem. And it is not that we do not have to suffer to send money from the bank. Banks require us to provide a lot of confidential information, and their service charges are also very high. Then there is the problem of standing in line for hours. So people are looking for a new solution to solve this kind of problem. Finally in 2008 Satoshi Nakamoto solved this problem. He then created a currency that anyone could easily transact money from anywhere in the world. And the most interesting thing is that no third party will be involved. The first cryptocurrency coin is called Bitcoin. But in the beginning, Bitcoin was not so much in demand as it is now. In cryptocurrencies, a method called Blockchain was invented to keep the currencies secure. And there are miners to mine these coins. Many apps have come up to make cryptocurrency easier and easier. For example Binance. The reason why cryptocurrency is so much more popular than paper currency is, as I mentioned earlier, it has a decentralized system. And because of this decentralized system in cryptocurrency, this cryptocurrency is very popular. Because we all want to keep our information safe. And the decentralized system helps keep our data secure. It has P2P transaction facility. P2P was invented so that no one can scam. The reason why cryptocurrency is more and more popular is that many people can invest in it and earn money. Cryptocurrencies can make one rich overnight. And cryptocurrency transactions have many advantages.

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No one can cheat anyone in cryptocurrency. Another thing in cryptocurrency is NFT. The full form of NFT is non fungible token. Non fungible tokens are tokens that cannot be exchanged. NFTs are usually images (there are many more types). For example, if you draw a picture for the first time, you can't draw a picture in the same way a second time even if you want to. These are called NFTs. And nft has disadvantages in cryptocurrencies. With NFT you can invest, you can sell and profit again if you want. All the topics I have discussed here are very few. You need to know all these things in detail. And this is the reason to know all these things. I mentioned earlier that currency changes a lot over time. So, just like paper currency is in use, cryptocurrency is in circulation. But cryptocurrency has not reached that level yet but slowly we can see cryptocurrency market attracting and taking over in many ways. This means that the time of paper currency is coming to an end. Transactions through cryptocurrency will be introduced in the future. And as far as I have seen many people still have no idea about cryptocurrency. Especially those people who do not know about cryptocurrency in their countries completely ban cryptocurrency. Cryptocurrency is not a trivial matter and it takes a lot of time to learn about it completely. And if cryptocurrency takes the place of paper currency once it will become very difficult for those people who have no idea about cryptocurrency. So it is important to know about cryptocurrency now, so that there is no problem later.

Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.