CRYPTO CURRENCY


    

CRYPTO CURRENCY is a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority.

It typically does not exist in physical form (like paper money) and is typically not issued by a central authority.

Cryptocurrencies typically use decentralized control as opposed to centralized digital currency and central banking systems. 

When a cryptocurrency is minted or created prior to issuance or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.

Cryptocurrencies are passed from person to person online. Users don’t deal with each other through banks, PayPal or Facebook. They deal with each other directly. Banks, PayPal and Facebook are all trusted third parties. There are no trusted third parties in cryptocurrency! 

Cryptocurrencies have the power to change our lives forever. They can help you take back control of your money and your information. Some people will ignore them and hope they go away. Others will join the party. Which will you be?

In this guide, I’ve told you everything you need to know about cryptocurrency.

Now it’s your turn...

By Aakanksha Jain

Dated- 27 May 2021

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