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Cryptocurrency and blockchain technology is one of the major advancements witnessed in recent times. Digital currency is almost taking the place of physical money due to its advantages.
Today, the crypto market is worth over a trillion US dollars. Crypto has gained mass adoption while its popularity has increased despite its ups and downs. The number one cryptocurrency, Bitcoin, has become a legal tender in El Salvador (2021) and the Central African Republic (2022). The volume of Cryptocurrency holders continues to grow because, unlike fiat cash, it’s accessible to everyone. Taking Bitcoin as an example, you can easily buy bitcoin with gift cards.
Although Bitcoin, Ethereum, and other cryptocurrencies have enjoyed huge success, many still don’t know about cryptocurrency.
In this post, we’ll learn about cryptocurrencies and their real use cases. Those who have been in the dark will see the opportunities that abound in cryptocurrency.
What is Cryptocurrency?
Cryptocurrency is a digitally encrypted, decentralized currency that is not linked to or regulated by any government or central bank.
It is based on blockchain technology, which is a distributed ledger framework. Bitcoin is the first cryptocurrency created which has led to the creation of others alike known as altcoins. It was created by an individual with the pseudonym Satoshi Nakamoto as a solution to the global financial crisis of 2008.
Cryptos are categorized as virtual or digital currencies….