Last Updated on August 18, 2021 by admin
What is Cryptocurrency and How Cryptocurrency Works?
Cryptocurrency – What is Cryptocurrency? How to earn money from Cryptocurrency – Is it Legal in India? how to invest in Cryptocurrency ?
Read : How To Earn Money Online Without Investment from Home?
Cryptocurrency
What is Cryptocurrency? Nowadays every person talks about it because today in the age of this technology, every person wants to move with the times and wants to grow, so today we will know in this post what is cryptocurrency?
What is Cryptocurrency?
Cryptocurrency meaning :- Meaning of crypto currency is “encryption currency”. Or Cryptocurrency means currency made from encrypted technology.
Cryptocurrency is a digital currency that is created using an encrypted technology that is used to regulate the units of currency. With the help of Encrypt, transparency is brought in the transactions of Cryptocurrency.
In today’s time people use online money in many things like online net banking online shopping where they use their bank account credit card or debit card.
In such a situation, if they want to do money transactions, then it is necessary to deposit money in their account. That’s why cryptocurrency has become the most famous in today’s time. Because crypto currency itself is a complete digital currency, for which you only have to buy it. And with the help of that currency you can do any digital transaction.
In today’s time, there are many cryptocurrencies in the market like bitcoin, libra, there are many types of cryptocurrencies, including India’s Jio coin.
Types of Cryptocurrency
In today’s time, many types of crypto currency have come in the market. But only a few selected such currencies have come which are very popular in today’s time and are also performing well. So we will know about the same crypto currency below.
- Bitcoin.
- LiteCoin.
- Peercoin
- Ethereum.
- Dogecoin
Bitcoin
What is bitcoin?
Bitcoin is the first cryptocurrency to be made into crypto currency. Which was created in 2009 by a person named Santoshi Naka Moto. This currency is a decentralized currency that you can use online because no government of any country has any control over bitcoin. we will shortly publish details post about Bitcoin. So subscribe our blog and keep visiting.
What is Litecoin?
Lite coin is also a crypto currency, which is a decentralized cryptocurrency like bitcoin. Which is not controlled by the government of any country.
It was created in 2011 by a person named Charlie Lee, who was an employee of Google. He also contributed in making Bitcoin successful, after which he created Lite Coin. Litecoin works faster than Bitcoin and this is the reason why Lite Coin is also very popular among people like Bitcoin.
What is Cryptocurrency?
What is Peercoin?
Peercoin is also a decentralized crypto currency. It is also not controlled by any government and Peercoin works exactly like bitcoin and the technology it has is also very similar to crypto currency. For this reason the encryption of its transactions It is also similar to bitcoin and this is the reason why people like Peercoin as well as bitcoin.
What is Ethereum?
Ethereum is one of the most popular crypto currency after bitcoin. This cryptocurrency is a crypto currency built on the technology of the decentralized blockchain.
Ethereum cryptocurrency has become so famous after bitcoin that in today’s time people prefer to use ethereum currency more than bitcoin.
What is Dogecoin?
There is a very interesting story behind Dogecoin becoming a cryptocurrency. At the time when bitcoin was the most famous in the world of crypto currency and its name was running the most. At that time a person named Cat Markus created a currency named Doge Coin, their purpose was to make fun of bitcoin first. But to make Doge coin their name Seeing the popularity, Doge Coin was made a cryptocurrency which uses the technology of encryption like Litecoin and in today’s time Doge Coin is used like bitcoin.
Read also : Stock Market Investment Strategies.
How Cryptocurrency works?
Cryptocurrency transactions are done using peer to peer technology which means direct transfer of crypto currency from one computer to another computer.
Crypto currency is sent to the people like a blockchain and it works in the same way as a bank keeps track of all its transactions. In the same way crypto currency keeps track of all the transactions of the transaction.
Thousands of bitcoin miners around the world keep a close eye on the transaction of bitcoin transactions and explain the mathematics of their transactions. Such people are called bitcoin miners and due to these, bitcoin is the most secure currency in today’s time.
Bitcoin miners are like the color of the bank in a way. The way the bank clerks calculate the transaction from the bank account, in the same way the people who mined bitcoin calculate the transaction of bitcoin in the language of the court. On such a successful transaction, the person mining the bitcoin is given 12.5 bitcoins.
How to buy Cryptocurrency ?
In today’s time it is very easy to buy crypto currency if you want to buy crypto currency then you do not have to worry much to buy crypto currency because you can buy bitcoin lite coin peercoin from uni coin zebpay or waxirx in India website. You can buy all types of crypto currency on these websites. You can register free by the link given below.
Create account on WazirX .
Create account on Zebapay.
Which you can buy with the help of your money, for which you can also use credit card, debit card or net banking.
Is it legal Cryptocurrency India ?
The question of whether crypto currency is legal in India or not is in the mind of every person. Then the answer to this question is that crypto currency is a currency which is a decentralized digital currency.
There is no control of any government of any country on this currency, for this reason the government of India has neither banned it nor does it stop you from buying it.
So you can buy any crypto currency if you want but at your own risk. The Indian government says that it is a currency over which no government has any control.
So if you invest in such currency and if you incur any loss then it will not be their responsibility then if you want to invest in crypto currency then you can do as per your understanding and your wish.
Advantages of Cryptocurrency?
Crypto currency is a digital currency that you can use in any country. The price of cryptocurrency is the same in all countries because no government of any country has any right on it. Cryptocurrency is a very secure digital currency, so you can use it anywhere in which you do not have to worry about being online fraud.
The expired crypto currency is not the currency of any country. So it does not have any effect on the economic condition of any country.
Disadvantage of Cryptocurrency?
Bitcoin is a digital currency and there is no control of the government of any country on it. So its price can fall more and more and this is the reason why if you invest in crypto currency, then you will benefit as much. There may be more damage than that.
Cryptocurrency is a currency that is used between 2 people, for this reason any wrong type of work can also be done by using this currency. Such as using cryptocurrency to buy weapons or buy drugs. Cryptocurrency is used and this is one of the reasons why the government of all countries forbid every citizen from buying crypto currency.
The biggest problem of crypto currency is that if your crypto currency account is hacked once then you can not get your crypto currency back because if someone hacked your crypto currency account once and did the transaction. Transactional coins are never returned.
How to earn money from Cryptocurrency?
It is very easy to earn money from crypto currency. Although there are many ways to earn money from cryptocurrency. But there are only a few ways to earn money from crypto currency legally, about which we have written a post. you will get it soon.
Read How To Earn Money Online Without Investment from Home.
Conclusion :
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