What is cryptocurrency cryptocurrency or crypto is a digital currency it exists only online it's called crypto because it uses encryption or a code to verify and secure transactions cryptocurrency is purchased from crypto Brokers and stored in digital wallets unlike conventional banking crypto isn't tied to a centralized Bank nor is it overseen by a regulating Authority instead crypto is a peer-to-peer virtual payment system you can exchange crypto with anyone anywhere transactions are done through a decentralized public Ledger.
Called a blockchain a blockchain is a list of records of all crypto transactions the records are called blocks which are linked together using cryptography a blockchain can issue new units of crypto new crypto is created by mining mining uses computer power to solve complicated mathematical problems that generate currency mining requires a lot of processing power which is why crypto companies exchange crypto rewards for the use of a Miner's computing power and electricity to sum up when you buy crypto you don't get something tangible instead you own a virtual key that lets you move a unit of crypto from one person to another without going through a third party trading cryptocurrency is relatively easy but trading comes with big risks due to a high volatility and lack of regulation in the crypto Market if you decide to invest in cryptocurrency here's
How to start step one pick a crypto platform to set up your account there are currently over 500 cryptocurrency exchanges that offer different currencies and account options or you may choose a traditional online broker to buy and sell crypto buy crypto for your account through your chosen exchange or broker most crypto exchanges let you purchase crypto using regular money such as the US dollar euro or British pound popular payment services such as PayPal cash app and venmo also allow users to buy sell or hold cryptocurrencies as mentioned before crypto is stored in digital wallets there are many different wallet companies crypto exchanges may offer Wallets on their platforms to make trading easier once you have crypto in your wallet what can you buy with it Apple takes some digging on your part because not every e-commerce retailer accepts crypto some luxury retailers and car dealers accept crypto you may also use a cryptocurrency debit card such as bitpay to spend crypto at retailers who don't accept it directly but is cryptocurrency safe the blockchain technology behind crypto as well as the two-factor authorization required for transactions make it difficult for cyber criminals to tamper with transactions cyber criminals are more likely to Target crypto exchanges rather than your wallet but they still perpetrate frauds and scams to con people out of their crypto include fake websites Focus exchanges celebrity endorsements and online dating scams Kaspersky VPN secure connection is your key to safe and fast crypto trading it keeps your data encrypted and your online activity invisible.
