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What is cryptocurrency?
I’m sure many of you are curious of this so called “21st-century money of the future” and due to its increasing recognition and security, the cryptocurrency market looks bright ahead.
This is one of the most frequently asked questions out there. What is cryptocurrency? To make it simple, cryptocurrency is a digital version of money where the transactions are done online.
A cryptocurrency is a medium of exchange just like your normal everyday currency such as the USD, but designed for the purpose of exchanging digital information through a process known as cryptography.
The first ever-successful cryptocurrency emerged from the invention of Bitcoin, by Satoshi Nakamoto. This was then followed by the birth of other types of cryptocurrency competing against Bitcoin.