Cryptocurrency is an digital currency which is an alternative form of payment created using encryption algorithm.
THINGS TO KNOW ABOUT CRYPTOCURRENCIES
●It is secured by Cryptography
●It doesn't rely on Central Banks or trusted third parties to verify transaction
●It is powered by Blockchain
●A Cryptocurrency wallet is needed to use it.
Before we dive in fully,
Here are keywords to learn about in Cryptocurrency world:
Block - collection of transaction data on a cryptocurrency network.
Blockchain - a technology that maintain records of transaction and keeps track of crypto and its owner.
NFTs - non-fungible tokens.
DeFI - decentralized finance.
Private key - necessary to sign transactions and write them in blockchain.
Bitcoin (CRYPTO:BTC) - first and most valuable cryptocurrency [founded by Satoshi Nakamoto in 2009]
Bitcoin Mining - process by which Bitcoin transactions are validated digitally on the Bitcoin network and added to the blockchain ledger. It is done by solving complex cryptographic hash puzzles to verify blocks of transactions that are updated on the decentralized blockchain ledger.
CGT(Capital Gain Tax) - tax you pay when you make money from trading crypto.
GPU(Graphics Processing Unit)
ASIC(Application Specific Integrated Circuit) - a chip designed To mine a certain cryptocurrency.
Altcoin.
CRYPTOCURRENCIES
●Bitcoin
●Ethereum
●Solana
●Tether
●Binance Coin
●Cardano
●Shiba Inu,etc.
CRYPTO EXCHANGE
●eToro●Binance.com
●Coinbase ,etc.
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