What is Cryptocurrency?

Qadir AK June 1, 2017

Less than a minute

What is cryptocurrency is oftentimes canvass. Today there are lot more cryptocurrencies like Ethereum, Altcoins and so on. The great feature of Cryptocoin is, it is not issued by any central authority.

What is Cryptocurrency?

Digital currency or Cryptocurrency is a form of exchange, for instance, $ (USD). Specifically, these currencies are to exchange digital information through definite process and principles of cryptography.

Now you might think, what Cryptograph is: It is widely referred to control the creation of new coins. Bitcoin is the first cryptocurrency initiated in the year 2009 by a group called pseudonym Satoshi Nakamoto.

Cryptocurrency overview

Furthermore, these transactions can proceed with low processing fees. It can also avoid the steep fees usually charged by financial institutions, banks, and wire transfers.

cryptocurrencies are easy to transfer funds between parties in a transaction. It involves with private and public keys. These keys are concern for security during transactions.