What Is Cryptocurrency?

 What Is Cryptocurrency?

What Is Cryptocurrency?

 

A cryptocurrency is simply put ``Money” there are two (2) types of money in the world, one is fiat: This is the one we all use as means of exchange for goods and services ``it is also called paper money’’ like Naira, Dollar, Yen e.t.c it is very popular and it's acceptable as means of exchange. The other is called cryptocurrency it is also called digital money because it cannot be touched e.g. Bitcoin, Dash, Electric cash, TRX, Bitcoin Vault e.t.c. it is powered by blockchain. technology. Blockchain Technology is to cryptocurrency what the Internet is to email. You cannot access yahoo mail or Gmail without the internet.

A cryptocurrency is an encrypted, digital asset that can be used as a medium of exchange and a storage of value. The unique cryptography, or computationally secure code, of each cryptocurrency, control its money supply, preventing devaluation, as well as the means by which units can be created, stored, and transferred securely.

The rate at which cryptocurrency is growing is so alarming, that most Government that has fought it has come back to introduce theirs or something so close to it, America fought it, it became so popular that no single wealthy person in America without cryptocurrency, China fought and came back to introduce their called digital yuan, Senegal fought it and later introduced theirs, Britain is discussing theirs, Nigeria is not left out e.t.c.

There is no doubt that Cryptocurrency is the future currency.  In 2007 a bitcoin was lower to a dollar today a Bitcoin worth over $50,000,000.00 you can imagine buying and keeping just 10 of it then. If you are without cryptocurrency, you need to think twice.