What is crypto currency??

 

Crypto Currency Explain …

1 money v/s currency

2 centralize v/s decentralized

3 fiat currency 

4 digital v/s physical currency

5 block chain

What is crypto currency?

Crypto currency it’s digital currency it’s not a physical currency , Cryptocurrency received its name because it uses encryption to verify transactions. This means advanced coding is involved in storing and transmitting cryptocurrency data between notecase and to public registry. The aim of encryption is to provide security and safety…

Crypto makes it possible to transfer value online without the need for a middleman like a bank or settlement processor, allowing value to transfer globally, near-instantly, 24/7, for low fees…

Uses encryption techniques to both, control the creation of monetary units and verify the exchange of money   

Bitcoin is considered to be the world best know crypto currencies and is the largest in the world according to market capitalization , followed by Ethereal ..

In traditional financial deals where two parties are using fiat money a third party organization, usually a central bank -assure that the money is genuine and the transaction is recoded .

With crypto currency a chance of private computer, a network is constantly working towards authenticating the transaction by solving complex cryptography puzzle……

For solving the puzzle these systems the rewarded with crypto currencies.

This process is called mining, at the backend of this transaction is a technology called’ block chain’ .

How does crypto currency work ??

You now know a bit about what crypto is and the types of digital currencies you may come across, That’s all well and good, you may be sensible, but how does crypto currency work, exactly?

Cryptocurrency works by writing blocks and recording transactions to the ledger. Transactions can’t be copy, or oratorical 

The registry is a archive that is:

Public

Online 24/7

Not curbed by any central bank or government.

What is Block chain?

Satoshi Takemoto- the person or a group of people. Who his said to have conceptualized an according system in the aftermath of the 2008 financial crises.

Had mooted an idea where the transaction and the value of money would be recorded digitally on a publicly available and open ledger that contains all the transaction ever made, Albeit it an , anonymous and encrypted form...

This ledger is called if block chain . Bitcoin at the thousands of crypto currencies are essentially codes recorded on a block chain that’s get  longer and longer as more people use them .

There have been voices calling  for stable coins as an alternative to volatile crypto currencies..

Private block chains have been put forward for business use. Data network  called the marketing of such profitmaking block chains without a proper security model “snake oil”;[9] however, others have argued that permissioned block chains, if carefully designed, may be more decentralized and therefore more secure in practice than 2 affluence,  ones.

What are stable coinS .??? 

Stable coin are digital currency that are backed by a fiat currency such as the US dollar thus giving it an intrinsic value.

From an investor  point of view, stable coins  become easier  to understand considering the underlying reserve asset .

There is also case being made by sovereign governments for stablecoins such as ,tether ,USD coin and diem given that it could increase the reach of their, fiat currency in the digital ecosystem.

How are crypto currencies brought….

There are two ways, the first is to

 buy it form someone and the second it’s to mine new crypto coins ,

Buying it form someone usually happens in two ways an- exchange facilitated transaction or the peer-to- peer transaction

For Indians, the simplest way to invest or trade in crypto currencies has been through one of the many exchange and trading , platforms operating in India. This inbuilt, wazir X ,coin DCX, coin switch kuber ,zebpey ,bitbns, giottus ,etc …..,

To be able  to trade or invest in crypto currency’s using INR users need. To registered  on one  of the exchange by completing in a kyc  process, 

Then a user buying crypto for the   first time  will need to load in money in the wallet of their crypto currencies exchange .

The cryptocurrency wallet is identified by a unique address represented by a randomly generated combination of numbers and later ...

There are two way to load money into a cryptocurrency wallet through net- banking  or through an-e – wallet.

Here’s where’s the first entry barrier arises .

Despite the supreme court ordered that quashed  the RBI director prohibiting banks from  allowing

 their system to be used  for virtually currency transaction several large bank  don’t offer their financial infrastructure for the investment and trade in crypto.

Among the wallet  that operate in the country, only Mobikwik is supported on platform such as wazir X and coin DCX.

 

Once the transaction in through, the purchased  crypto currency holding is reflected in the exchange wallet’s